Origin Therapeutics Applauds Incoming Decriminalization for Potential to Reduce Stigma

Vancouver, B.C. June 14, 2022Origin Therapeutics Holdings Inc. (CSE:ORIG) (the “Company” or “Origin Therapeutics”), an actively managed, psychedelics industry-focused investment issuer, is applauding the recent announcement from the federal government that the possession of small amounts of some illicit drugs will be decriminalized for adults in British Columbia starting next year.

This exemption, announced on May 31 by the Federal Minister of Mental Health and Addictions Carolyn Bennett, and her provincial counterpart Sheila Malcolmson, will go into effect on January 31, 2023, and last until Jan. 31, 2026.

“This move represents a clear acknowledgment of and steps towards finding a solution to the mental health and overdose crisis in Canada,” said Alexander Somjen, CEO of Origin Therapeutics. “This also represents growing destigmatization, which can both open the door to overcoming this crisis while also supporting the innovation taking place in the psychedelics sector, which has its own stigmatization hurdles to overcome, and ironically, may ultimately also be a part of the solution to the addiction crisis.”

A growing number of nations are moving toward the removal of penalties for drug use. Canada, and Vancouver in particular, is rapidly establishing itself as a leader as Ottawa navigates decriminalization.

“Under the Controlled Drug and Substances Act, health ministers have the authority to grant exemptions for medical or scientific purposes, or purposes that are otherwise in the public interest,” added Somjen. “We believe that this initiative has the potential to push the psychedelic medicine industry forward, moving us  another step closer toward unlocking the potential of these medicines.”

Origin Therapeutics is an actively managed investment issuer focused on making equity investments in psychedelics industry-related companies ranging from drug discovery to telehealth, wellness retreats, educational media, and more. Sign up to receive updates from Origin Therapeutics at https://originpsychedelics.com/

 

-##-

 

About Origin Therapeutics

Origin Therapeutics Holdings Inc (CSE:ORIG) (the “Company” or “Origin Therapeutics”) is an actively managed investment issuer focused on making equity investments in psychedelics industry-related companies to provide investors with diverse exposure to the sector. The Company, led by a team of industry experts, leverages its management expertise, professional network, and due diligence process to identify and invest in leading and emerging companies focused on the emerging psychedelics sector.

Learn more at www.originpsychedelics.com and follow the Company on LinkedIn, Twitter, and Instagram

 

For Further Information:
Alexander Somjen
Chief Executive Officer and Director
Origin Therapeutics Holdings Inc

www.originpsychedelics.com
info@originpsychedelics.com

For media inquiries, please contact: Brittany@Exvera.com

 

Forward-Looking Information and Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, the intended use of proceeds of the Offering, the filing of the Prospectus and the obtaining of receipts for the Prospectus. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the Company’s business in general; (iii) that the proceeds of the Offering may need to be used for purposes other than as set out in this news release and other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by applicable law, the Company does not intend to update these forward-looking statements.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.