Aspen Island Therapeutics Announces Closing of Over-Subscribed Private Placement and Business Name Change to The Newly Institute
CALGARY, AB, March 31, 2021 /CNW/ - Aspen Island Therapeutics Inc. DBA as The Newly Institute (The "Newly" or the "Company") is pleased to announce that it has closed its over-subscribed private placement financing of common shares. The Newly's primary strategic intent is to be an institutional leader and establish psychedelic assisted psychotherapy clinics , both physical and virtual, from coast-to-coast in Canada, then beyond. The Company will focus on a hub-and-spoke model to support all programs around the country from its larger hub cities.
"The overwhelming support from the medical community is a testament to the strength of our team, our business and clinical model, and our opportunities for growth. We now count psychiatrists, toxicologists, pain, addiction, and sleep specialists amongst our shareholders" said Arthur H. Kwan, Chief Executive Officer.
"This is truly an exciting day for all of us at The Newly Institute," said Robert L. Tanguay, Chief Medical Officer. "We are proud to have assembled a best-in-class team of psychiatrists, physicians, and veterans to pursue our mission of treating veterans, first responders, and the general population with mental health indications, including PTSD, depression, and anxiety with psychedelic assisted psychotherapy."
With financing and staffing secured, The Newly Institute is poised to become Canada's premier operator of psychedelic assisted psychotherapy clinics with planned locations opening in Calgary and Fredericton in 2021. Future infrastructure expansion is underway in other Canadian cities.
The Newly also announces that it has registered "Newly" as a trade name and will begin to conduct business under The Newly Institute name effective immediately. The Newly Institute corporate identity embodies the Company's strategy to become a global leader in best practices and evidence based psychedelic assisted psychotherapy treatments to more effectively treat mental health ailments. As well, The Newly Institute has designed and developed an integrated model of care. The Newly has incorporated three homogeneous modules that encapsulates enhanced clinic design, revolutionary mental health treatment design, and excellent clinical outcomes.
About the Newly Institute
The Newly Institute believes that mental health treatment is in drastic need of a paradigm shift, and our practice was founded to provide long-lasting change within this industry, our community, and with our clients. By fusing a bio-psycho-social-spiritual treatment model with psychedelic-assisted therapies, patients can overcome deeply embedded traumas that prevent them from living fully in their everyday lives. Our programs are based on evidence and data, but our approach is personal because we know it's vital that people feel safe to be vulnerable during this process.
With locations slated to open in 2021 in Calgary, AB and Fredericton, NB, as well as several more Canadian cities. The Newly Institute's goal is to become Canada's largest and premier operator of psychedelic assisted psychotherapy clinics.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding the opening of psychotherapy clinics in Canada, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, timing to complete renovations, hire staff and open psychotherapy clinics in Canada; the Company's limited operating history and lack of historical profits; reliance on management; the Company's requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, including closing of future financings. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Related Links
www.thenewly.ca
SOURCE The Newly Institute
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