We are on a mission to enhance the wellbeing of society.Become an investor
16 July, 2021
Levitee Labs approved to list on CSE with proven revenue and cashflow in the psychedelics market
Levitee Labs was born out of an idea to transform the inefficiencies people suffering from mental health disorders, addiction, and pain management issues, tragically experience every day
Levitee is a multidisciplinary integrative wellness company with an established portfolio of cash-flowing wellness assets through its accretive M&A regimen
Mental health issues have come sharply to the fore during the lockdowns imposed on populations due to the coronavirus (COVID-19) pandemic over the past year.
Depression and anxiety due to isolation issues have been well-documented, but the issues have really been prominent for a long time with the means of alleviating mental health disorders, addiction and even pain management issues fairly diverse.
However, alternative medicine and notably psychedelic pharmacology is now being seen as a potential breakthrough treatment for these issues and one company intending to be at the forefront of these advances is Levitee Labs.
Levitee, currently a private Canadian company which is imminently looking to list its stock, is a multidisciplinary integrative wellness company with an established portfolio of cash-flowing wellness assets through its accretive M&A regimen. Through the leveraging of this M&A regimen that focuses on the centralization of complementary integrative wellness assets, it aims to transform mental health and addiction treatments through the integration of psychedelic medicines and therapies.
Proactive sat down with Levitee Labs CEO Pouya Farmand to find out more about this innovative company.
Proactive: Can you please tell us a little of the background to the creation of Levitee Labs?
Pouya Farmand: Absolutely. Levitee Labs was born out of an idea to transform the inefficiencies people suffering from mental health disorders, addiction, and pain management issues, tragically experience every day. There’s a huge gap in the current healthcare system and that was clear to us.
The system has failed to the point where the people who need the system most have a lack of control over their own lives because access to traditional services is such a large barrier. With wait times for care often greater than a year in Canada, we recognize that this lapse in patient-centric care can ultimately be the difference between life or death for many people stuck in this vicious cycle of suffering, living just day to day, trying to manage their symptoms to get by. The system clearly isn’t working for the people who need it most.
So, combining that truth with the resurrection and reemergence of psychedelic research and advocacy, we initiated our efforts to transform the traditional landscape of mental health, addiction, and pain management treatments. We thought, how can we bridge the traditional with the novel to help the people in need who have been failed by the system? From there, we saw a feasible path towards structuring a platform that serves as a solution to these unsolved issues in society.
We also thought, what about those who are just starting to experience mental health issues or physical pain? How can we catch them before they start to slip through the cracks? From there, we started to integrate more of a preventative mentality towards mental health, as well. The Levitee of society is for everybody. We want to meet people where they’re at, wherever they are on their journey towards betterment and optimization. I believe that absolutely everyone has the powerful ability to heal and elevate oneself when access to the right integrative wellness tools are available.
The integrative wellness space is ripe for transformative innovation, so we’re blending traditional health systems with the new frontier of value-based health solutions. The inclusion of evidence-based alternative medicines, psychedelic therapies and digitization, will lead to better health outcomes for patients. For us, Levitee means to uplift people and empower them to take control of their livelihood. It means supporting people to elevate their lives and create change from within so they can heal and thrive.
So how is the platform progressing?
We believe in leading change in this landscape from the inside out, so the platform we have built will provide a wide range of curative wellness tools so that all people can experience not only mental and physical optimization, but also get to the very root of symptoms related to lack of integrative well-being.
The first step to bridging the traditional landscape with psychedelic applications is to carefully create the infrastructure for change, which is why we are developing this platform. By acquiring clinics and pharmacies where patients already exist, we can immediately support patients who are proven to need psychedelic treatments the most.
We are also looking to those physicians who seek to stand on the right side of history and create an enormous impact in battling mental health through psychedelic and plant-based medicines. In this way, we will integrate psychedelic applications with existing traditional treatment modalities. Currently, we have six clinics and three pharmacies under agreements to purchase after we list.
Your go public round in February saw overwhelming interest, so when will you list Levitee shares?
We have now been cleared by the BCSC and the CSE, so we’re just waiting to get our effective listing date from the exchange. Keep your eyes peeled for our listing date to be announced soon.
You’ve already developed internally a portfolio of assets, what do these offer?
There are two. There is Sporeo Supply, which manufactures the first commercial-grade offering of grain spawn and substrate. This is a wholly-owned subsidiary of Levitee Labs that addresses the overwhelmingly fragmented mushroom cultivation market through its spawn and substrate sterilization facility.
Undergoing rapid development in Canada, the Sporeo facility utilizes commercial-scale cutting-edge machinery that decreases the risk of product contamination while maximizing efficiency. This feedstock is the basis for the cultivation of mushrooms, both psychedelic and functional. With the recognition of the tremendously positive effects of functional mushrooms in ongoing clinical studies, Sporeo Supply is in the process of implementing the inoculation of various functional mushrooms into its sterilized spawn. This will allow our consumers to skip the inoculation process entirely and have ready-to-grow mushroom kits at their disposal, which will consistently provide fruit strains of their choice, such as Lion’s Mane, Reishi, Turkey Tail, etc.
Our other internally developed asset, MONKE Nutraceuticals, creates solution-driven products containing powerful super ingredients proven to drive results. The brand specializes in the development and distribution of premium functional mushroom supplements to help consumers thrive by elevating their mind and body, which is the name of the two supplements blends we currently offer – Mind and Body. This nootropic supplement line has been formulated with the highest-grade ingredients and testing integrity possible. Levitee is also looking to complete continuous strategic acquisitions in 2021.
What stage is this M&A activity at?
We are disciplined stewards of capital with a solid, strategic pipeline for each vertical. Our focus is on assets that work in synergy to support people wherever they are at in their lives and their wellness journey. From preventative action against mental and physical fatigue from the inside out, all the way to truly transformative therapies that treat the whole person starting at the root of their issues.
You can think of the pipeline as being strictly focused on curative integrative wellness modalities that treat the mind and body so people can grow from surviving to thriving. Verticals include addiction and pain clinics, pharmacies, supplements, nutraceuticals, and picks and shovels for mushroom cultivation.
The pipeline does not stop there. We’re expanding into further complementary verticals as well, including technology, education, and research and development. We can share that our Phase One acquisitions have progressed in a strong fashion and are set to close in the first quarter of our listing. The Phase Two pipeline will continue to aggressively go after assets that can further substantially increase the revenue and cash flow of the company as a whole.
For example, we are looking at companies in addiction treatment with strong revenues and cash flow that also have potential for improvement, whether that be increased revenue through offering additional services or cutting costs with our drug procurement partnerships. We are being specific in our acquisition approach to ensure that our assets work together seamlessly. Integration is a common issue in mergers and acquisitions, so we are making sure we use the correct strategies and take the steps necessary to have a smooth process both pre- and post-acquisition.
So what do you think you bring to the company as its CEO?
Well, myself, I’m not a healthcare professional or a scientist, I’m a finance guy, an investment banker by background. I have been in private equity and have done over 35 transactions in the venture capital space in both private and public companies. I’ve come to specialize in growth capital, capital allocation, M&A and early-stage company formation. Therefore, I understand how to decisively identify opportunity and articulate the vision around it and to really bring the best operators around that vision.
So, you can really think of me as a capital allocator towards the best entrepreneurs with a big vision. My background has led to me being able to reliably allocate the capital we raise towards the experts on the team who operate and grow the business.
So can you give us any idea of what investors should expect from Levitee Labs?
What investors should expect from Levitee Labs in 2021 and beyond is the continued execution of our strategy, which is to develop and purchase proven cash flowing assets in the mental health, pain management, and addiction space and then layer on additional services which include evidence-based psychedelic treatment modalities, integrations of traditional mental health and addiction assets with telehealth, and more.
Our entire team is focused on this strategy and we are going to be very aggressive in our execution. That’s to say that investors should expect Levitee Labs to be the first publicly traded company on the CSE to have a platform with proven and substantial revenue and cashflow in the psychedelics space.
Contact the author at email@example.com
Would you like to know more?Contact us