From Coast to Coast, Regions are Decriminalizing Natural Psychedelics

VANCOUVER, BC / ACCESSWIRE / February 12, 2020 / Codebase Ventures Inc. ('Codebase' or the 'Company') (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF), an investment company, on behalf of its subsidiary, Titan Shrooms and Psychedelics, is pleased to provide an overview of the rapidly changing environment for natural psychedelics in the USA.

There is a growing body of scientific research, as reported by 60 Minutes,¹ indicating that psilocybin can be used to effectively treat mental illnesses such as anxiety, depression and PTSD - and more so where these conditions are entrenched and current drugs are not proving effective. A study reported in the journal Nature,² showed that 47% of patients with treatment resistant depression who received psilocybin were showing positive outcomes 5 weeks post treatment.

In addition, the FDA has granted 'breakthrough therapy' status to both the Usona Institute and Compass Pathways, allowing clinical trials to advance - a measure the organization deploys where evidence indicates there could be substantial improvement over currently available treatments.³

As a result of this movement, stigmas are being reduced and cities and regions are moving quickly to decriminalize natural psychedelics such as psilocybin including:

• Santa Cruz, California
• Denver, Colorado
• Oakland, California

Pending measures underway in:

• Chicago, Illinois
• Oregon
• Iowa
• Vermont
• Michigan
• Washington, D.C.

'Although in early stages, this rapidly developing field is being validated by the medical establishment, legislative bodies and most importantly patients who are seeing benefits,' said Mr. George Tsafalas. 'Titan Shrooms and Psychedelics is working to add to its portfolio so that Code shareholders can benefit from the continued acceptance and growth in this sector.'

¹ https://www.cbsnews.com/news/psychedelic-drugs-lsd-active-agent-in-magic-mushrooms-to-treat-addiction-depression-anxiety-60-minutes-2019-12-29/

² https://www.nature.com/articles/s41598-017-13282-7

³ https://pharmaphorum.com/news/fda-tags-psilocybin-drug-as-clinical-depression-breakthrough-therapy/

About Codebase Ventures Inc.

Codebase Ventures Inc. is an investment company, led by technology and business experts who invest early in great ideas in sectors that have significant upside, including the cannabis sector. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow's standards with platforms, protocols and innovations - not just products. We invest early, support those founders, take their ideas to market and work tirelessly to help them realize their vision.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Ivy Lu, Investor Relations or George Tsafalas, CEO
Telephone: 1 (778) 806-5150
E-mail: [email protected]

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'predicts', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Codebase Ventures Inc.