Mind Cure Health (CAN:MCUR / US:MCURF) continues to turn heads in the psychedelics space. Mind Cure launched its IPO on September 21, 2020.
Opening trading at CAD$0.20, MCUR immediately grabbed some attention by jumping higher. By the end of the first week it was trading at CAD$0.70, more than tripling in Week 1.
As Mind Cure moves through its third week as a public company, it’s currently trading at CAD$0.66. The share price hasn’t moved – but the Company has.
Strong leadership
Mind Cure has released a series of announcements on new appointments, including some highly regarded individuals in the world of psychedelic drugs.
- (September 29th) Kelsey Ramsden, two-time Top Female Entrepreneur in Canada, was named as Mind Cure’s new Chief Operating Officer
- (October 1st) Dr. Dan Engle, a world-renowned physician in psychiatry and neurology deeply involved in psychedelic drug development, was appointed as an Advisor
- (October 6th) Hamilton Morris, an award-winning journalist and psychedelics expert, was added as an Advisor
- (October 7th) Dr. Jason Wallach, a prominent researcher and academic in psychedelic medicine, was also appointed as an Advisor
A strong hand to guide operations. Leading minds – and voices – in the world of psychedelic medicine and psychedelic drug R&D. Mind Cure is assembling the right cast for psychedelic drug success.
For investors new to Mind Cure, this Company is a functional mushrooms/psychedelic drug hybrid. It is leading with its functional mushrooms division (and Moonbeam product line) because it represents an immediate path to a robust revenue stream.
Functional mushrooms are a $23 billion market today (Mordor Intelligence). Growing rapidly.
Psychedelic Stock Watch has been watching Mind Cure’s series of appointments with interest. We’ve offered our own thoughts to investors.
Announcing new additions to a company’s management team doesn’t put any money in the pockets of shareholders – directly. But appointing the right people to achieve operational milestones does make money for investors.
So what is left for Mind Cure to do other than starting to execute on its milestones?
Mind Cure adds PR depth
Today Mind Cure has announced the appointment of health & wellness “industry tastemaker” Jon Bier.
Bier is a communications specialist and strategy expert, and the founder of Jack Taylor PR. He has achieved success publicizing some of the world’s leading health & wellness brands.
Bier will join Mind Cure’s Advisory Board to help the company get the word out on its business model and the opportunity for investors.
Today, Mind Cure is about functional mushrooms: extremely popular nootropics that target some of the most important health & wellness niches. The Company already has its Health Canada Natural Product Numbers to commence retailing Moonbeam mushrooms in Canada.
Building out a psychedelics R&D division will come. You don’t bring in people like Dan Engle, Hamilton Morris and Jason Wallach just to help sell nutritional supplements.
Mind Cure doesn’t have a psychedelic drug in a Phase 2 clinical trial like Compass Pathways (US:CMPS) -- yet. But Compass Pathways has a market cap of $1.5 billion.
Even after its move higher, Mind Cure sits with a market cap of CAD$30 million.
Corporate success doesn’t come overnight.
Compass Pathways may have launched a billion-dollar IPO, but it came after years of assembling the right team and building its own research platform.
Wouldn’t you have liked the opportunity to get into Compass Pathways when it had an enterprise value of only $30 million?
With Mind Cure Health, investors have this opportunity.
DISCLOSURE: Mind Cure Health is a client of Psychedelic Stock Watch. The writer holds shares in Mind Cure Health.