Roadman Investments Signs Definitive Agreement with Psychedelic Insights Solidifying Psychedelics Clinic Investment

Tickers: XTSX:LITT, PINX:RMANF
Tags: #Bioceuticals, #Pharmaceuticals



March 31, 2020 - TheNewswire - VANCOUVER, British Columbia - Roadman Investments Corp. (TSXV:LITT) (FWB:1QD) (OTC:RMANF) ("Roadman Investments" or the "Company") is pleased to announce the signing of a definitive agreement with Psychedelic Insights to form a joint venture for the purpose of opening up a legal psychedelic treatment center in the state of California upon the legalization or medical approval of psilocybin.

Psychedelic Insights is one of the only companies in the world that offers psychological guided psychedelic experiences with magic psilocybin truffles in their safe psychedelic space in the center of Amsterdam. The company has experienced specialists, a passion for healing people, proven results, mature IT marketing and sales infrastructure with bookings system, CRM, Mail-systems, Screening evaluation, etc. Psychedelic Insights is perfect partner for Roadman as their business is very scalable across jurisdictions.

With the liberalisation of drug policies globally we anticipate the need for qualified certified therapists and practitioners to be a major bottleneck to growth. Psychedelic Insights offers a comprehensive training program that will allow the scale across the US as new states approve treatments. Roadman Investments providing capital and Psychedelic Insights providing the expertise and operating the centers. The number of researchers, universities, and other institutions conducting and publishing scientific studies on the healing powers of psychedelics is increasing daily and is at an all-time high. Stigma is dissolving and people are starting to seek out psychedelic experiences and we expect there to be a lot of demand for these mental health services in the future.

California is a great starting point for the first Psychedelic Insights Center in the US as the state is very progressive, has the most cities that decriminalized psilocybin in the country and has the largest population.

Definitive Agreement Terms

  • - Roadman shall contribute up to $500,000 USD to the partnership in order to launch the center's operations, which the Company will source from financing or selling of assets.

    - Roadman Investments and Psychedelic Insights are jointly responsible to manage finances, arranging insurance and deposits, creating a budget, managing expenses and creating financial reports.

    - Psychedelic Insights shall contribute to establishing the center's requirements, protocols, patient intakes, promotional marketing, supplier sourcing for needed materials, overall logistical coordination and registration.

    - Psychedelic Insights is responsible for a high-quality business plan at least 5 months prior to the launch of the clinic

    - Psychedelic Insights is responsible for the coordination and hiring of mental health professionals to operate the center.

Exclusivity

Psychedelic insights grant Roadman Investments a 36-month period of exclusivity for the state of California. Neither Psychedelic Insights nor any of its representatives will, at any time solicit, encourage, discuss, negotiate or entertain any proposals from or provide financial, operating or any other non-public information to, any party other than Roadman with respect to the subject matter of the proposed partnership.

Equity Interests

Each Partner shall be entitled to each item of the Partnership's income, profit, gain, loss, cost, deduction, credit or allowance in proportion to its Partnership Interest listed below:

  • - ROADMAN INVESTMENTS CORP: 51%

    - PSYCHDELIC INSIGHTS: 40%

    - FLAGSHIP US CLINIC DIRECTOR: 9%

CEO and Director Luke Montaine stated: "Psychedelic Insights is currently one of the few operational psychedelic clinics in the world and have an amazing team that is helping people achieve personal transformations with psychedelics. This agreement will allow both companies to launch, when legally permitted to, and capture a first mover advantage in the country."

In addition, we advise that the Company will be required to secure financing of equity or debt, sell investment assets and/or seek alternative financing methods in order fund the fulfillment of the above disclosed obligations. There is risk that the license or approval for planned treatment center may not be obtained and that if approval is not obtained the Psychedelic Insights Center and joint venture will not exist.

About Roadman Investments

Roadman Investments is a Canadian Venture Capital and Advisory Firm that strives to actively drive innovation and accelerate growth within its portfolio holdings in order to realize alpha returns for its shareholders. Roadman invests capital into companies that offer breakthrough products, devices, treatments and health supplements.

About Psychedelic Insights

Psychedelic Insights is a legal, safe and healing psilocybin therapy center based in the Netherlands. You can learn more about the company here: https://www.psychedelicinsights.com/

Luke Montaine

CEO, Director

Roadman Investments Corp.

604-760-8755

Luke@roadmancorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Examples of forward-looking statements include, among others, statements we make about the Company, its subsidiaries or other Company's that the Company has invested in or is otherwise affiliated with, regarding planned research and development activities, financing arrangements, investment strategies, returns on investments, contractual obligations including but not limited to obligations to purchase materials or meet sales milestones, strategy for customer retention, growth, product development, market position, financial results and reserves, other statements relating to the financial and business prospects, management's ability it identify and evaluate investments, managements ability to obtain the necessary funding or obtain the necessary licenses and approvals to operate, specifically, the necessary licenses and approvals to open any such facilities in California or the United States of America.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets, continued volatility in the capital or credit markets the adequacy of our cash flow to fund the operations of the Company or its affiliates, strategic actions, including acquisitions and dispositions and our success in evaluating acquired businesses and our success in developing the businesses underlying these acquisitions, the occurrence of hostilities, political instability or catastrophic events, changes in customer demand, the extent to which we are successful in gaining new long-term relationships with customers or retaining existing ones and the level of service failures that could lead customers to use competitors' services, developments and changes in laws and regulations, including increased regulation of the medical, health and wellness industries through legislative action and revised rules and standards applied by the international medical, pharmaceutical, health and wellness regulatory bodies, changes in the price of inventory and other key materials and disruptions in supply chains for these materials, closures or slowdowns and changes in contracted service provider costs and labor difficulties, including stoppages affecting either our operations or our service providers abilities to conduct research and develop and produce products, management's ability to operate our business models, availability of financing to provide sufficient working capital maintain the business as a going concern, availability of financing to fund the Company's or it is subsidiaries business operations, including but not limited to, meeting the Company's obligations under the agreement with Psychedelic insights, compliance and approvals under the appropriate State and Federal laws and other factors as discussed in the Company's filings with Canadian securities regulators, which are available at www.sedar.com.

Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news is not for dissemination in the United States of America.

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