The psychedelics space is heating up, and major players have taken notice.
The market is bolstered by a growing number of decriminalization movements across the United States, as well as an increasing number of market participants, including names like Champignon Brands (CSE: SHRM), Hollister Biosciences (CSE: HOLL) and Revive Therapeutics (CSE: RVV).
Cannabis companies are joining the market, as are notable leaders from the marijuana space. Notable names include former Canopy Growth Corp (NYSE: CGC) CEO Bruce Linton, now a director for Toronto’s Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) and chairman of the advisory board for Red Light Holland (CNSX: TRIP), a brand focused on truffles.
In June 2020, Aurora Cannabis (NYSE: ACB) co-founder Terry Booth left his cannabis venture. In doing so, Booth has shifted attention towards psychedelics, investing in Red Light Holland. Booth also joined Psyched Wellness Corp.’s board in May 2020.
What’s the Appeal of Psychedelics?
Those who spoke to Benzinga for this article believe that the interest in the emerging space stems from creating a medical impact as well as cannabis regulatory frustrations.
Linton told Benzinga that his interest in the market was two-fold.
One, the decision was driven by a belief that Linton could provide …