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New Wave: Enters into Partnership with the University of West Indies, Mona, Jamaica for Medicinal Drug Discovery

·5 min read

TORONTO, Nov. 26, 2020 /CNW/ - NEW WAVE HOLDINGS CORP. (the "Company" or "New Wave") (CSE: SPOR) (FWB: 0XM2) (OTC: TRMND) an investment issuer that provides capital and support services, announced it has entered into a joint venture with The University of West Indies, Mona, Jamaica to conduct drug discovery and highlight knowledge of medicinal plants in Jamaica.

New Wave Holdings Corp. Logo (CNW Group/New Wave Holdings Corp.)
New Wave Holdings Corp. Logo (CNW Group/New Wave Holdings Corp.)

The purpose of this joint venture/partnership is to develop techniques using local microclimate conditions and local research and commercial advantages to explore various natural products and patent opportunities and to conduct drug discovery and highlight knowledge of medicinal plants in Jamaica.

The Parties wish to explore opportunities for:

  • research and development of therapeutic drugs and natural health products that are derived from local plants and fungi;

  • commercial activities that can exploit patents, and other research results, concerning local biodiversity;

  • advancing the knowledge of medicinal plants in Jamaica;

  • increase awareness of medicinal plant health

Under the terms of the strategic partnership, New Wave Holdings will provide capital, resources and further support in drug discovery through the University faculty and facilities.

UWI will undertake research and the objective will be to highlight and further develop various components and/or compounds in early drug discovery stages and explore various plants and fungi that show significant results in the following areas: Cancerous properties, Diabetes, Hypercholesterolemia, and Inflammation. Research at the Facility will be led by various scientific professors that specialize in the key areas listed above.

Daniel Fox, CEO New Wave Holdings comments: "This will be a joint effort between New Wave and UWI brain trust to enhance awareness, innovate new remedies of therapy, and shed light on the medicinal plants and their ultimate consumer health benefits."

Both New Wave and UWI agree to work together under a model where UWI provides research services (personnel and facilities) that are funded by New Wave. The details of these research projects, the funding needed for each, the ownership of the Intellectual Property that results and the licencing terms if any would be negotiated on a project-by-project basis.

ABOUT NEW WAVE HOLDINGS CORP.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTC: TRMND) is an investment issuer focused on the burgeoning psychedelic sector and support for adaptive and progressive mental health products and therapies. In the psychedelic sector, New Wave will focus on supporting research on active psychedelic compounds, creation of consumer products based on functional mushrooms, and developing an IP portfolio focusing on psilocybin, LSD, MDMA, and ketamine derived treatments for neuropsychiatric diseases. New Wave also contains various health and beauty products within its portfolio of non-psychoactive plants and fungi as it continues to expand its product distribution through vertical integration to provide end to end solutions while capturing a high margin business model.

Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com

ABOUT THE UNIVERSITY OF WEST INDIES, MONA, JAMAICA

The University of the West Indies (UWI) Mona campus offers world class, accredited higher education programmes to Jamaica, the region and the globe. They engage in research and development designed to support the social and economic growth of the Caribbean region, the provision of community service, and the enrichment of the academic experience.

Information relating to The University of the West Indies, Mona, Jamaica, contained in this news release was provided by The University of the West Indies, Mona, Jamaica and/or its agent and has not been independently verified by the Company. The Company does not take responsibility for the accuracy of such information.

The CSE has not in any way passed on the merits of the Acquisition, and neither has approved nordisapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term isdefined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward–looking information, includingbut not limited to, applicable regulatory approval in connection with the Acquisition, the closing of theAcquisition, expansion of operations, size and quality of future tournaments and projections regardingattendance at future events. Forward–looking information is often, but not always, identified by the useof words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similarexpressions. Forward–looking information involves known and unknown risks, uncertainties and otherfactors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company's actual results could differ materially from those anticipated in this forward–looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward–looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

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SOURCE New Wave Holdings Corp.

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