- Champignon Brands Announces New Arrangement with Major Canadian Pharmacy Chain to Dispense the Firm’s Ketamine Treatment
- The Company Also Announced the Successful Close of its Acquisition of Psychedelics Clinic Operator AltMed
- Shares of SHRM Stock Experienced a Major Technical Breakout on Friday, 2 Days After TCI Alerted Readers That a Breakout Was Likely Imminent
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496), a leading human optimization sciences company focused on applying novel and natural treatment protocols to address a broad range of disorders and deficiencies with an emphasis on psychedelic medicine, announced Thursday it has a new deal in place with a top Canadian pharmacy chain that will strengthen the company’s Ketamine topicals prescription fulfillment capabilities.
The company’s arrangement is with one of Canada’s leading retail pharmacy chains and will provide Champignon with a central fill and compounding infrastructure for its proprietary Ketamine formulations. The new strategic relationship will also see the company’s Ketamine products dispensed throughout the pharmacy’s network.
The company stated via press release: “Champignon will leverage the Pharmacy’s existing infrastructure to distribute or ‘central fill’ topical ketamine prescriptions to a network of Canadian medical and pain/addiction clinics. These compounded products will provide Champignon with an accretive revenue stream with robust margins.”
The two companies have already begun to design a custom, Level B Clean Room that will be located within the Pharmacy’s current footprint. Champignon will utilize the Clean Room to compound and package its multiple Ketamine formulations such as Ketamine topicals and off-market intranasal Esketamine. The company anticipates the Clean Room’s construction will be finished by the third quarter of 2020 and will contain all design specifications per new NAPRA guidelines.
Champignon Brands CEO Gareth Birdsall commented on the firm’s new Ketamine relationship:
“With this arrangement, Champignon boasts complete vertical integration with respect to our rapid onset Ketamine treatments and therapies. From novel formulations to product development at a purpose-built GMP and DIN licensed pharmaceutical facility, and now automated prescription fulfillment and on-site compounding infrastructure, we have managed to capture the entire product lifecycle.”
Champignon stated that its new central fill capabilities will optimize the firm’s prescription fulfillment infrastructure while also advancing its Ketamine data collation initiatives for the following indications: concussion/traumatic brain injury (TBI), anxiety and treatment-resistant depression.
The network of Canadian medical and pain/addiction clinics will use Champignon’s Ketamine-based formulations to conduct chart reviews and patient studies under human ethics approval from Health Canada. Champignon will use the data produced from the chart reviews/studies to expedite future Phase 1 human clinical trials and for peer-reviewed publishing mandates.
“The data collated by our network of clinics as physicians prescribe our ketamine products for a variety of indications will assist with improving the success outcomes of our planned trials for later this calendar year,” added Birdsall.
AltMed is a Done Deal
In other news, Champignon Brands announced the closing of its AltMed acquisition. AltMed is a Canadian Ketamine clinic operator, psychedelic medicine IP aggregator and novel drug discoverer. With the acquisition now complete, Champignon will look to utilize AltMed’s suite of assets to accelerate its multipronged business strategy.
AltMed gives Champignon the ability to reach consumers directly through rapid-onset medical treatments. The company plans to open at least five new clinics in key North American markets, including New York, Florida and California. Champignon expects its new clinics will be fully operational by Q4 2020.
Since Champignon first announced that it would be acquiring the Canadian Ketamine clinic operator, AltMed has increased its stake in the Canadian Rapid Treatment Centre of Excellence (CRTCE). After buying up the remaining shares in the CRTCE, AltMed now owns 100% of the fully operational Ketamine clinic.
The CRTCE is licensed by Health Canada to dose eligible patients with Psilocybin and is also the only clinic in Canada able to perform Psilocybin doses under Health Canada approval. The CRTCE is also licensed by the College of Physicians and Surgeons Ontario (CPSO) under OHPP to administer Ketamine treatments for a variety of indications including depression, bipolar disorder, PTSD) and OCD.
“The CRTCE is the only vertically integrated rapid-onset treatment centre operating from proof-of-concept to human clinical trials and publication, with study results in peer-reviewed journals by the world’s leading experts in psychopharmacology,” stated Champignon via press release.
For additional information and specific terms related to the AltMed acquisition, please refer to the company’s official press release here.
SHRM Stock Price Action & Chart
On Wednesday, April 29, 2020, we published an article informing our readers that SHRM’s stock was forming a very bullish chart pattern and based on recent price action there was a high probability of a significant near term breakout. The purpose of the SHRM technical alert was to make sure we let our readers know about it before it potentially happened.
We are pleased to report that since publishing our “Bullish SHRM Chart Update – SHRM Breakout Could Already Be Underway” article, as anticipated, Champignon’s stock has experienced another massive breakout rising as much as 24.71% since our alert.
On Friday, shares Champignon Brands’ CSE listed SHRM stock soared 10.1% to close the day at $0.98 per share, with over 2.4 million shares changing hands. SHRM also became the first psychedelics stock to cross the $1 mark rising as high as $1.06 during intraday trading. A feat that MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) narrowly missed in early March when it hit $0.99 before pulling back to the $0.60 range where it currently sits today.
Here’s a recap of how all three Champignon Brands stock listings closed Friday’s trading session:
- 🇨🇦Canada | Canadian Securities Exchange: Champignon Brands (CSE: SHRM) | +10.1% at $0.98 per share
- 🇺🇸United States | OTC Markets Exchange: Champignon Brands (OTCQB: SHRMF) | +9.1% at $0.70 per share
- 🇩🇪Germany | Frankfurt Stock Exchange: Champignon Brands (FRA: 496) | +8.33% at $0.59 per share
Congratulations to all the TCI readers that took action after reading our SHRM technical alert on Wednesday. For those that missed out on the recent breakout, don’t worry; we’re an inch into a marathon as it relates to the emerging psychedelics industry. With Champignon Brands leading the burgeoning sector forward, it’s likely only up from here.
Champignon Brands (CSE: SHRM) Stock Chart | From April 29, 2020, TCI Article
Champignon Brands (CSE: SHRM) Stock Chart | May 1, 2020
Champignon Brands is a paid client of The Cannabis Investor. The Cannabis Investor holds a position in Champignon Brands.
This report/release/profile is a commercial advertisement and is for general information purposes only. We are engaged in the business of marketing and advertising companies for monetary compensation unless otherwise stated below.