- Champignon Advances Psychedelic Clinic Expansion Announcing Terms for First U.S. Acquisition of California-Based Wellness Clinic of Orange County
- Today’s News Comes Just One Day After the Psychedelics Company Announced Dr. Roger McIntyre as its New CEO as Well as a $10 Million Bought Deal Private Placement
- According to Expertscape.com, Dr. McIntyre is the World’s #1 Depression Researcher
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496), a human optimization sciences company with an emphasis on Ketamine and psychedelic medicine announced today the company has signed a term sheet to acquire the California-based Wellness Clinic of Orange County. As Champignon continues to advance its North American psychedelic clinic expansion strategy, today’s news sets the stage for the firm to officially enter the lucrative U.S. psychedelics market.
“We are thrilled to begin executing on our North American expansion strategy by acquiring our first U.S. based, revenue-generating ketamine centre- Wellness Clinic of Orange County. This acquisition represents a major milestone as we begin to accelerate our vision of establishing significant scale and a sizable footprint of integrated ketamine centric clinics committed to providing innovative care and therapeutic options to improve the quality of life of patients suffering from chronic disease states that have failed conventional treatments,” said Champignon’s new CEO Dr. Roger McIntyre.
“This is an exceptional opportunity to both collaborate and scale with Dr. McIntyre and the world-class team at Champignon, with the objective of remaining at the forefront of innovation in this burgeoning field. We are excited for our patients, both current and future, as we work to provide them with the therapeutic options that they deserve,” added Dr. Michael Bronson of Wellness Clinic of Orange County.
According to the term sheet agreement, Champignon will acquire 100% of the Wellness Clinic and all of its subsidiary companies. In exchange, Champignon will pay over 18 months: USD $600,000, 1 million SHRM common shares and an additional 500,000 common shares if the Wellness Clinic generates top-line revenue of at least USD $1.5 million in the first 1.5 years following the deal closing. To view additional terms and conditions related to the agreement, please click here.
Source: Shutterstock
The Ketamine Wellness Clinic of Orange County
The Wellness Clinic owns and operates a state-of-the-art ketamine infusion treatment center located within the Mission Hospital’s Laguna Beach campus. The cutting-edge Clinic is an authority in Ketamine Infusion Therapy and is actively involved in research and complementary treatment protocols. Supported by a breadth of peer-reviewed studies, as well as clinical trials, intravenous Ketamine has emerged as a promising treatment option for many chronic diseases, such as depression, anxiety, post-traumatic stress disorder, fibromyalgia, and certain other pain disorders.
“Our state of the art clinic is uniquely situated within the walls of the Mission Hospital Laguna Beach campus. This proximity affords us access to all of the hospital services and ancillary behavioral health support while providing each patient a safe, comfortable, and private outpatient infusion. The goal of the Ketamine Wellness Clinic is to alleviate some of the debilitating aspects of these diseases through the use of an outpatient-based infusion of Ketamine,” states the Wellness Clinic’s website.
In addition to Ketamine Infusion Therapy, the Wellness Clinic of Orange County is also now a Certified Spravato Treatment Center. Spravato is a nasal version of Ketamine (also known as Esketamine) that can only be administered in a medically supervised healthcare setting that has been recognized as a certified treatment center. Spravato Esketamine nasal spray was recently approved by the U.S. FDA for treatment-resistant depression.
“We are very proud to have been selected to ensure the safe administration of this new medication. The Ketamine Wellness Clinic of Orange County will continue to provide our patients with a safe, comfortable, and quiet environment to receive their treatments with state of the art monitoring and care,” said the Clinic on its website.
The Wellness Clinic of Orange County’s website features several inspirational testimonials from patients describing how Ketamine therapy greatly improved their lives. Watch the video below to see for yourself.
Champignon’s New CEO is the World’s #1 Depression Researcher
Yesterday, Champignon Brands made two major announcements that will significantly accelerate the firm’s expansion efforts. First, Champignon reported that it appointed Dr. Roger McIntyre as the company’s new CEO. Dr. McIntyre is widely regarded as the world’s most recognized psychiatrist in relation to mood disorders.
According to the professional research website Expertscape, Dr. McIntyre is ranked as the top depression researcher in the world. Also, Dr. McIntyre has been named one of the World’s Most Influential Scientific Minds each year from 2014 to 2019 by Clarivate Analytics.
Dr. McIntyre is the founder and operator of the Canadian Rapid Treatment Centre of Excellence (CRTCE Clinic), which Champignon recently acquired in the AltMed acquisition.
“The CRTCE is the only center in North America and globally to demonstrate that rapid-onset treatments improve health outcomes in one to two weeks and get people back to work, which is of enormous importance to individuals, as well as payers in the private space,” stated the company via press release.
“My overarching aim as Chief Executive Officer is to establish Champignon as the apotheosis of integrated ketamine treatment delivery and the commercialization of our own IP psychedelic-based treatments. The clinical infrastructure, complementary asset base and human capital that Champignon has acquired leaves me very confident we will provide life-changing treatments for persons with depression, all the while contemporaneously rewarding our investor base. I have been honoured as a Professor of Psychiatry and Pharmacology at the University of Toronto, as well as a Professor at Universities across the United States and Asia and currently head the world’s largest clinical R&D network in depression. The Canadian Rapid Treatment Centre of Excellence, that I envisaged and successfully implemented, is the world’s first integrated clinical and R&D centre in Ketamine and psychedelic-based treatments and is identified as the most influential scientific centre for depression research,” commented Dr. McIntyre.
Gareth Birdsall relinquished the role of CEO to make way for Dr. McIntyre. Mr. Birdsall, who will stay on as a company director, should be commended for a job well done in leading Champignon to this point.
$10 Million Bought Deal
Champignon Brands also announced yesterday that the company struck a deal with Canaccord Genuity and Eight Capital to conduct a bought deal private placement. As co-lead underwriters, Canaccord and Eight Capital will purchase 11,765,000 units of the company at $0.85, amounting to gross proceeds of $10,000,250. The financing is expected to close on or about June 11, 2020.
SHRM Stock Price Action & Chart
Fueled by today’s announcement, shares of Champignon Brands’ CSE listed SHRM stock soared to new highs with the stock closing today’s trading session at $1.15, up 16.16% on the day. South of the border, the company’s U.S. SHRMF listing closed the day up 15.51% at $0.82 per share. Overseas in Germany, Champignon’s Frankfurt listed shares finished the day at $0.73, up 4.29%.
Source: Barchart
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