Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF), a venture capital company investing in early-stage technology and cannabis companies, said Monday that its wholly-owned subsidiary Titan Shrooms & Psychedelics Inc, has made its first investment in Netherlands-based Red Light Holland Corp., which focuses on the production, growth and sales of truffle-based products.
"We believe Codebase shareholders will benefit from Red Light Holland's unique approach with its focus on truffles and whole fungi medicine, moving away from synthetic alternatives," said Brian Keane, a director with Codebase Ventures.
"Titan's initial investment is the first step in building a portfolio to give our shareholders a front row seat to the mushrooms and psychedelics sector as it builds significant momentum,” he added.
READ: Codebase forms Titan Shrooms & Psychedelics to invest in mental health treatments using magic mushrooms
For most, psychedelic drugs conjure up images of the 1960's, hippies tripping out on LSD or magic mushrooms. However, early studies are finding that psilocybin – the active agent in magic mushrooms could treat addiction, depression and anxiety.
CBS’s probing 60 Minutes program recently drilled deep into how cancer patients with painful anxiety over their illness have found more peaceful acceptance after participating in a study that involved intensive therapy and being given a drug that was once a symbol of the 60's counterculture.
“Titan's mandate is to leverage its deep relationships globally to offer the best exposure available at the forefront of this burgeoning sector, to the benefit of Codebase shareholders," said Keane.
Titan Shrooms & Psychedelics will focus on identifying investment opportunities that meet with its investment mandate. Building on its initial $50,000 debt facility with Red Light Holland provided on January 23, Codebase may invest up to $2 million in such opportunities going forward.
Strategically based in the Netherlands
Red Light Holland Corp is “strategically based” in the Netherlands, a jurisdiction where selling truffles is legal, noted the company,
Red Light Holland believes in the entourage effect of ‘whole fungi' medicine and is designed to profit off of the entire truffle, including the proven psilocybin compound, to the highest degree.
The company said Red Light Holland is distinguishing itself from other clinically studied treatments that use a very expensive synthetic compound in an isolate state; and use none of the fungi entourage effects, which Red Light Holland believes are critical to the efficacy of the medicines that the company aims to produce.
Titan Shrooms & Psychedelics is actively seeking investment opportunities at the forefront of the mushroom and micro-dosing psychedelic healthcare sector. Codebase is not averse to taking management positions in companies in which they are investing.
Codebase Ventures, which consists of a small, hands-on team of financial and technology experts, invests in emerging technologies. It makes strategic investments in ambitious founders who aim to upend large markets.
Contact the author Uttara Choudhury at [email protected]
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