Will cannabis investors eventually warm up to psychedelics?
Cannabis companies and investors are looking at adding to the green they have been harvesting for years by tossing psychedelics into the mix. Hallucinogens are becoming a popular market for recreational and medicinal uses today, much like cannabis. Is it possible that the biggest cannabis investors will also be including hallucinogens in their portfolios?
Why the shift?
Terry Booth, a co-founder of Aurora Cannabis, has moved his priorities to include psychedelics. He has invested his cannabis earned dollars in Red Light Holland. Psyched Wellness Corp had also gained his attention since he joined the board in May. Bruce Linton, the now director of Toronto's Mind Medicine Inc, was the former CEO of Canopy Growth Corp. He currently sits as chairman of the advisory board for Red Light Holland, whose brand is focused on truffles.
Interest in the emerging psychedelics is perhaps two-fold, according to Linton, who believes that he could help to provide a more significant medical impact with the use of psychedelics. Secondly, the rules and regulations surrounding cannabis and the plant's policies are outdated in his views, but he prefers to follow proper regulation compared to decriminalization.
Ronan Levy, the executive chairman of psychedelics therapy company, Field Trip, has some particular views for entrepreneurs whose interest in the cannabis industry is to be observant of the regulatory and legal risks inherent to cannabis. What is most interesting about this is that psychedelics appear to have a more precise legal understanding than the cannabis plant.
Transparency for the psychedelic space is more evident than it is in the cannabis space. There is a driving scientific, academic force that is given to psychedelics seeking regulatory approvals. In Levy's eyes, this manner is better than the political grassroots path that cannabis has taken. The scientific approach allows for easier market participation. Psychedelic research also appears to be more persuasive in its findings. This, according to Levy, could be due to the more extensive lab studies the hallucinogen possesses.
Discussions on the switch of cannabis investors' interests to hallucinogens must include the psychedelics medical impact. The ongoing stigma attached to the cannabis space could persuade cannabis investors to see the psychedelics' potential, which could create a meaningful change and impact on the medicinal space.
Get ready, get set, let's go!
Ronan Levy acknowledges the amount of excitement surrounding the psychedelic space today but warns us that the game has only just begun. Regulations are primarily uncertain, just like in the cannabis space. He also suggests that whichever business opportunity you take in psychedelics to take the steady and sure long game.
Stress, anxiety, and depression are notably rising today, and more people are turning to the assistance of psychedelic based psychotherapy due to the pandemic. COVID-19 has created a perfect storm scenario for psychedelic companies and cannabis investors. Mergers, buy-outs, and takeovers of psychedelic companies are accelerating in Canada, as some companies are using reverse takeovers.
The interest is looming in the psychedelic investor space, and cannabis investors are spreading out to include the next mental health, medicinal, and perhaps miracle substance, to encompasses the health and welfare of the mental health society as we know it today.