MIAMI, Dec. 28, 2020 (GLOBE NEWSWIRE) -- Ehave, Inc. (OTC Pink: EHVVF) (the “Company”), a leader in digital therapeutics and developer of KetaDASH, a home delivery platform for patients who have been prescribed Ketamine infusions, announced today the Company's Board of directors has elected to sell 100% of its Mycotopia Therapies subsidiary to 20/20 Global Inc. (OTC Pink: TWGL) for $350,000 while simultaneously acquiring approximately 75.77% of 20/20 Global’s outstanding shares from 20/20 Global’s management.
20/20 Global currently trades on the OTC under the symbol TWGL and is a reporting issuer with the US Securities and Exchange Commission. The transaction is expected to close January 4, 2021. Ehave Chairman and CEO Ben Kaplan will be named as Chairman and CEO of 20/20 Global, with the current 20/20 Global board stepping down upon completion of all regulatory requirements. Kaplan will remain Chairman and CEO of Ehave.
Ehave believes that Mycotopia’s business plan can be more effectively funded and monetized as its own public company. Information regarding 20/20 Global on OTCMarkets.com and other related websites will be updated after the expected January 4, 2021 closing to reflect the new business plan. Ehave continues to develop KetaDASH (www.ketadash.com) platform, which will offer home infusion of ketamine for patients whose healthcare provider has prescribed it and its other existing products.
In addition to the appointment of Ben Kaplan as Chairman and CEO of 20/20 Global, Jamaican investment banker, Mark Croskery, will also serve on the Board of 20/20. Mr. Croskery will assist with sourcing deal flow from the Caribbean, as well as South and Central America, where a plethora of psychedelic deals are on the radar. Mr. Croskery currently serves as Chairman and CEO of Croskery Capital Limited in Kingston, Jamaica. Croskery Capital Limited focuses on assisting companies with developing strategy, building boards of directors, C-Suite team corporate executive recruitment and alignment, along with troubleshooting financial-accounting and operational business issues on a professional and hands-on basis. He has served as a valued and trusted advisor to numerous companies in Jamaica, the Caribbean, South America, and Central America.
20/20 Global and Mycotopia Therapies will focus on the psychedelic space, as a majority owned subsidiary of Ehave. Ehave has also transferred its 10% interest in PsychedeliTech Inc. (“PsyTech”) to Mycotopia as part of the realignment. Additionally, Ehave will continue develop Ketadash, the Ehave Dashboard, its MegaTeam video game applications for children with ADHD, the safety and security of Electronic Health Records (EHRs), improving mental health, and combatting mental illness. 20/20 Global and Mycotopia Therapies will be a pure play on the psychedelic space. As a subsidiary of 20/20 Global, Mycotopia Therapies will own 10% PsyTech, which produces of the psychedelic professional conferences regarding the science of psychedelics and related business opportunities company along with psychedelic tour and travel related businesses.
Ehave CEO, Ben Kaplan, said, "20/20 Global will be a pure play on psychedelics and their application to mental health issues. 20/20 Global will be seeking other business opportunities in the psychedelic space including psychedelic retreats and medicinal mushrooms."
Ehave may distribute 20/20 Global shares to its shareholders in the future.
Additional Ehave Inc. Information
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About Ehave, Inc.
Ehave, Inc. (EHVVF) is a leader of digital therapeutics delivering evidence-based therapeutic interventions to patients. Our primary focus is on improving the standard care in therapeutics to prevent or treat brain disorders or diseases through the use of digital therapeutics, independently or together, with medications, devices, and other therapies to optimize patient care and health outcomes. Our main product is the Ehave Telemetry Portal, which is a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insights. The Ehave Infinity Portal offers a powerful machine learning and artificial intelligence platform with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools. Additional information on Ehave can be found on the Company’s website at: www.ehave.com.
About Mycotopia Therapy
Mycotopia Therapy focuses on helping you heal and reclaim your life. Your journey of healing is an understanding of the causes and works to mental wellness through psychedelic enhanced psychotherapy, integrated with a professional team of mental wellness practitioners and cutting-edge technology. Psychedelic therapy is a holistic and spiritual approach providing healing and has shown successful treatment for many years. Additional information on Mycotopia Therapy can be found on the Company’s website at: https://www.mycotopiatherapies.com/.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.