| Agreement to acquire established Canadian Psychedelics company Halucenex Life Sciences Inc. (ASX:CPH) 
Highlights - Halucenex is a Psychedelic-Assisted Psychotherapy (PAP) company
- Halucenex focuses on the commercialisation and R&D of novel psychedelic molecules for the treatment of Post Traumatic Stress Disorder (PTSD), Depression and other mental illnesses
- Agreement provides Creso Pharma with entry into the emerging global market for psychedelics medicines - estimated to be worth up to US$100Bn
- Acquisition marks the first 100%-owned psychedelic medicines company on the ASX
- PTSD therapeutics market is expected to grow to US$10.5Bn by 2025 and mental illness in Canada has an economic burden of C$51Bn per annum ,
- Halucenex operates a 6,000 sq. ft. medical clinic dedicated to the treatment of mental illness located adjacent to an emergency hospital
- On receipt of its Dealer's License, Halucenex will be permitted to possess and conduct R&D of psychedelic molecules including psilocybin
- Focused on synthetic psilocybin, the active ingredient in magic mushrooms which has been shown to have considerable evidence-based mental health benefits
- Path to early revenues through strategic affiliation with Veterans Affairs Canada and Veteran support groups via veteran and advisor David Fraser, retired NATO general
- Multiple near-term value catalysts - licencing deals and clinical trial milestones pending
- Delivers a new highly lucrative industry vertical and additional future revenue stream
- Highly experienced team with a track record of commercialising successful businesses
- Halucenex will benefit from significant synergies including Creso Pharma's experienced pharmaceutical product development team, industry leading advisers, a comprehensive global distribution network and a top-tier premium cannabis cultivation facility
- Bruce Linton is a Director of Psychedelic company Mind Med (MMED:NEO, Market Cap $1.5bn)
- The largest psychedelic company in the world is Compass Pathways Ltd (CMPS:NASDAQ, Market Cap $2bn)
Creso Pharma Limited (ASX:CPH, FRA:1X8) ('Creso Pharma' or 'the Company') is pleased to advise that it has signed an agreement to acquire Halucenex Life Sciences Inc. ("Halucenex"), an established psychedelics company focused on developing treatments for Treatment Resistant Depression in individuals suffering from PTSD, and other mental health illnesses (Acquisition). Based in Nova Scotia, Canada, Halucenex is a life sciences development company focused on researching, developing and licencing novel psychedelic molecules for the global pharmaceutical and nutraceutical markets. Halucenex is currently focused on progressing clinical trials to research the efficacy of psilocybin to treat and alleviate Treatment Resistant Depression in individuals suffering from PTSD and other mental illnesses. The proposed acquisition provides Creso Pharma with a first mover advantage into the psychedelic medicines sector and marks the first 100%-owned psychedelic medicines company listed on the ASX. The acquisition of Halucenex is transformational for Creso Pharma. The Company will emerge as a best-in-class provider of cannabis, cannabinoids and psychedelics alternative medicines to meet the large unmet need for treatments to improve mental health and well being. 
Halucenex plans to target two significant markets: Mental illness and the market for PTSD treatments.
Image Source: CPH Presentation 
The estimated market size for psychedelics medicines is US$100bn.
Image Source: CPH Presentation Management Commentary Non-executive Chairman Adam Blumenthal said: "This is a major milestone for Creso Pharma and marks our evolution into a broader based pharmaceutical business. Creso will now sell its trusted cannabis products and progress the commercialisation of a range of psychedelic-assisted psychotherapy treatments. Our entry into this market provides the Company with another lucrative vertical and an additional near term revenue stream. "Mental health and PTSD are becoming detrimental to our society and this has been highlighted in the last 12 months. These conditions have been exacerbated by COVID-19 and the available treatments are shown to have limited effectiveness and many side effects. Psychedelic-assisted therapy is a new alternative treatment route, which has considerable promise. "The acquisition of Halucenex will strengthen our presence in Canada, as well as provide a number of opportunities in drug development which will inevitably lead to further new market entries and commercialisation opportunities." Halucenex Founder & CEO Mr Bill Fleming said: "Halucenex is excited to be acquired by Creso and looks forward to levering its strategic relationships and expertise in the pharmaceutical industry. Halucenex has an early advantage in that it has applied for the Controlled Substances License, it has a laboratory for research on psychedelic compounds and a medical clinic to conduct micro and macro dose trials. "Our ability to design a clinical protocol and fast track a phase 2 Treatment Resistant Depression clinical trial will allow us to be one of the first companies to demonstrate the efficacy of psilocybin in Canada." Creso's Strategic Advisor Mr Bruce Linton added: "Public policy towards psychedelics is rapidly shifting and we are witnessing a massive regulatory wave which will change the way that mental health and wellness is achieved and maintained. Thru this acquisition Creso is directly and immediately in the search for science driven outcomes." "Vision and discipline came together in making this acquisition." 
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