Chicago - Wesana Health Holdings Inc. ('Wesana' or the 'Company') (CSE: WESA; OTCQB: WSNAF), an emerging data-driven life sciences company focused on developing innovative approaches for better understanding, protecting and improving neurological health and performance, including through the advancement of psychedelic medicines, announced its commitment to fund an initial US $1.5 million to assess the viability of Multidisciplinary Association for Psychedelic Studies (MAPS) MDMA-assisted therapy to treat traumatic brain injury (TBI).
Under the terms of the recently signed memorandum of understanding, Wesana's financial commitment will enable MAPS Public Benefit Corporation (MAPS PBC), a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), to activate a team to evaluate the scope of unmet need for TBI treatment and help to define terms of a desired joint venture between MAPS and Wesana. Use of funds will include, in part, legal support in drafting and finalizing a partnership agreement, business development and executive staff costs in evaluating viability of the treatment, and other research-related expenses including establishing ethical guidelines governing the desired agreement.
About Wesana
Wesana is an emerging life sciences company championing the development and delivery of psychedelic and naturally-sourced therapies to treat traumatic brain injury (TBI) and other neurological conditions. Through extensive clinical research and academic partnerships, Wesana is developing evidence-based formulations and protocols that empower patients to overcome neurological, psychological and mental health ailments caused by trauma.
Forward-Looking Information and Statements
This news release contains 'forward-looking information' within the meaning of applicable securities laws with respect to the Company and MAPs, including, but not limited to: information concerning the completion and timing of completion of the initial US$1.5 million funding to MAPs, information concerning the completion and timing of entering into a partnership with MAPs, expectations regarding whether the contemplated partnership will be consummated, including whether conditions to the consummation of the partnership will be satisfied, expectations for the effects of the contemplated partnership on the business of the Company, expectations regarding the markets to be entered into by the Company as a result of the contemplated partnership, the ability of the Company to successfully achieve its business objectives as a result of entering into the contemplated partnership, expectations regarding the method by which future revenue is generated, expectations regarding the safety and efficacy of MDMA-assisted therapy, including therapies that are being developed by MAPs, and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, financial position, operational or financial performance or achievements. Often, but not always, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', will', 'projects', or 'believes' or variations (including negative variations) of such words and phrases, or statements that certain actions, events, results or conditions 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Except for statements of historical fact, information contained herein constitutes forward-looking information. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including among other things assumptions about the ability of the Company to successfully negotiate and enter into definitive documentation in respect of the contemplated partnership with MAPs and satisfy any related conditions precedent; the ability of the Company to raise sufficient capital to advance the business of the Company, including to be able to fund such partnership with MAPs; development costs remaining consistent with budgets; favorable equity and debt capital markets; favorable operating conditions; obtaining and maintaining all required licenses and permits; receipt of governmental approvals and permits; political and regulatory stability; the level of demand for the Company's proposed products and services; the ability of the Company to be successful in its research and development initiatives; and the availability of third party service providers and other inputs for the Company's operations. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual performance, achievements, actions, events, results or conditions to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Furthermore, such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, financial position, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, financial position, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability of the Company to successfully negotiate and enter into definitive documentation in respect of the contemplated partnership with MAPs and satisfy any related conditions precedent; the inability of the Company to raise sufficient capital to advance the business of the Company, including to be able to fund such partnership with MAPs; and such other risks factors discussed in the Company's annual information form dated September 3, 2021 filed on the Company's profile on SEDAR at www.sedar.com and in the Company's other public filings available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided and made as of the date of this news release and the Company does not undertake any obligation to revise or update any forward-looking information other than as required by applicable law.
Contact:
Media
Nick Opich
Annie Graf
KCSA Strategic Communications
Email: Wesana@kcsa.com
Phone: 212-896-1206
T: 786-390-2644
WESANA HEALTH HOLDINGS INC. 
