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Filament Cultivates 20th Psychedelic Mushroom Variety and Provides Propagation Update

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Filament Health today announced that it has grown its 20th cultivar of psilocybin-containing mushrooms.

The cultivation was conducted at its Vancouver-based GMP facility, at which current production “yields the equivalent of over 25,000 therapeutic doses of psilocybin per year.”

Filament has now grown and analysed 20 varieties of psychoactive mushrooms, with 75 undergoing screening.

Ryan Moss, Director of Research at Filament, explained that the team has identified a cultivar that contains 4x the psilocybin content of well-characterised cultivars. Moss also explained that Filament has identified 8 additional psychoactive alkaloids present within fungal biomass.

Full release…

Vancouver, British Columbia, June 9, 2021 – Filament Ventures Corp., doing business as Filament Health (“Filament” or the “Company”), an exclusively-natural psychedelic drug discovery and extraction technology company, today announced it has grown its 20th cultivar of psilocybin-containing mushrooms at its GMP facility in Metro Vancouver. Filament also shared updates on its propagation research, including the discovery of a potent cultivar of psilocybin- containing fungus.

“We are excited to share that we’ve recently identified a cultivar that contains four times the psilocybin content of more commonly-known cultivars. In addition, we have identified eight additional psychoactive alkaloids present within fungal biomass, highlighting the potential for developing proprietary extract formulations,” said Ryan Moss, Director of Research at Filament. “Findings such as these emphasize the need for further research on these cultivars and other psychedelic organisms, especially given the need for a strictly standardized dose in clinical settings. Filament is dedicated to providing safe and effective natural psychedelic extracts.”

In order to identify the highest-potency cultivars, Filament has grown and analyzed twenty varieties of psychoactive mushrooms, and has 75 further cultivars undergoing screening. Filament is currently using three high-content, high-efficiency primary strains for production, and will be entering one of the non-psilocybin compounds identified into a Phase a clinical trial in partnership with the TRpR Program at UCSF. Filament’s in-house operations include propagation, extraction, research, and manufacturing using its patent-pending technologies. Current production at the Company’s 3,500 square foot facility yields the equivalent of over 25,000 therapeutic doses of psilocybin per year.

“Our research program infrastructure comprises a critical part of our strategic roadmap, and we are delighted with the resulting progress in advancing the field of natural psychedelic research,” said Filament CEO, Benjamin Lightburn. “Rather than developing synthetically-prepared versions of natural compounds, we view nature as the most potent source for new and effective therapies. Furthermore, we are encouraged by regulatory advancements such as Oregon Measure 109 and California Senate Bill 519, which advance non-pharmaceutical psychedelic-assisted therapy where naturally-derived psychedelic products will likely be preferred.”

These natural compounds are best unlocked through rigorous research and skilfully applied extraction techniques. Filament is well-poised to tackle this challenge with a management team that has decades of experience in natural extraction, purification, and standardization, as well as patent-pending versions of these processes that it leans on to produce safe and consistent product formulations.

About Filament Health

Filament is an exclusively-natural psychedelic drug discovery and extraction technology company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology commercialization, utilizing its intellectual property portfolio, in-house GMP facility, and Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

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Forward Looking Information

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning the number of therapeutic doses of psilocybin yielded from the Company’s facility and the impact of Oregon Measure 109 and California Senate Bill 519, including the impact on non-pharmaceutical psychedelic-assisted therapy. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.