Toronto-based Neural Therapeutics (CSE: NURL) announced on Thursday a twofold milestone, with both the completion of a C$518,500 capital raise and the receipt of formal permission from the Canadian Securities Exchange to begin listing its shares for trading, another sign that the international psychedelics industry is making slow but steady progress.
The news is a significant step forward for the ethnobotanical drug discovery company, which is developing new therapies such as “sub-hallucinogenic doses of mescaline” to treat drug disorders such as alcohol and opioid dependence.
In a press release, the company said it raised the half million on March 7 from the issuance of just over 17.2 million shares of Neural stock at C$0.03 per share.
While the CSE has formally given Neural Therapeutics permission to list, its shares have not yet begun trading. The launch is “expected to occur shortly,” the company said, and it promised…
