Vancouver, British Columbia - TheNewswire - January 04, 2022 - Blackhawk Growth Corp. (CSE:BLR) (CSE:BLR) (OTC:BLRZF) (Frankfurt:0JJ) (the "Corporation" or "Blackhawk"), is pleased to announce that its wholly owned subsidiary, MindBio Therapeutics Pty Ltd ("MindBio"), is developing a proprietary technology and a new scientific method to objectively test the effectiveness and delivery of microdosing psychedelic medicines.

MindBio is currently undertaking the world's first clinical trial of its kind and the data will be used to develop new technology to assist with delivering psychedelic medicines. The technology will be developed and then tested and enhanced in MindBio's Phase 2 clinical trials. The novel technology will collect data from participants in microdosing clinical trials with the aim to determine an optimal microdose for individual patients.

In its Phase 1 clinical trial microdosing LSD (Lysergic Acid Diethylamide), MindBio is microdosing LSD to 80 healthy participants who take the drug at home in the same way that they would take any other medication. MindBio's strategy of microdosing of psychedelic medicines administered using smart drug delivery technology will lead to a highly scalable method for treating mental health disorders. With preparation work underway, MindBio will conduct its Phase 2 clinical trials in early 2022 microdosing patients with major depressive disorder and in patients with late-stage cancer.

"MindBio's leadership in clinical trials of psychedelic medicines has the potential to also lead to the creation of new drug delivery technologies that would allow psychedelic medicines to be administered at scale", says Frederick Pels, CEO of Blackhawk Growth. "Using the data from our Phase 1 clinical trials to develop and test the drug delivery technology in our Phase 2 clinical trials will help accelerate our pathway to commercialization."

1. https://www.beckleyfoundation.org/2018/06/13/psychedelics-promote-neural-plasticity/ 

2. https://www.cell.com/cell-reports/fulltext/S2211-1247(18)30755-1 

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Trip Pharma, Noble Hemp, Spaced Food, NuWave Foods, Digital Mind Therapeutics and MindBio Therapeutics – as well as an equity position in Gaia Grow Corp. (CSE:GAIA).

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to transaction and future operations of MindBio Therapeutics Pty Ltd. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.