CannaGlobal Appoints World-Class Board and Announces Rebranding to GoodCap Wellness

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Toronto, February 1, 2021 — GoodCap Wellness Inc. (“GoodCap” or the “Company”), a leading research and development company focused on the medical benefits of mushroom-derived compounds, today announced it has changed its corporate name to GoodCap Wellness Inc. The GoodCap Wellness brand identity embodies the Company’s strategy to be a world leader in psilocybin and mushroom-related drug and product development. The Company has unveiled its new website, goodcapwellness.com, which will include an updated investor presentation in the coming weeks. The company was formerly named Cannaglobal Canada Co. Inc.

GoodCap also announced appointment of a world-class Board of Directors including industry experts in pharmaceutical drug development, biotechnology, brand creation, and business development, with track records in building successful companies and bringing drug products to market. CEO Steve Sadoff says that, “We have added some of the most accomplished people in the fields of drug and product development to our team, and we are excited about the contributions that they are already making to the business. In particular, we are excited to welcome Rochelle Stenzler as our Chair. Rochelle is a proven board leader in the life science and healthcare industries, whose experience will serve us well at GoodCap.” The new Board of Directors includes:

· Rochelle Stenzler (Chair) served as Chair of the Board of Cynapsus Therapeutics Inc., listed on TSX and NASDAQ, until it was acquired for US$635M by Sunovion Pharmaceuticals Inc. in 2016. She is currently the Chair of Spartan Bioscience Inc., a leading Canadian biotechnology company whose rapid COVID-19 test was recently approved by Health Canada. Ms. Stenzler served as a Board Director and Vice Chair of the Humber River Hospital in Toronto for nine years, and also serves as an Advisory Board member to Social Capital Partners. She was previously the president of Revlon Canada and PharmaPlus Drugmarts.

· Dr. Joseph Elliot is founder and President of Biopharm Management Inc., a consulting practice which has been advising nascent life sciences companies for more than 20 years. Dr. Elliot has held senior technical and international marketing positions with Pharmacia Canada Inc. (now Pfizer) and Connaught Laboratories Inc. (now Sanofi-Pasteur Vaccines). He is a former venture capitalist and has founded and managed multiple start-up companies in therapeutics, diagnostics and natural health products. Dr. Elliot holds a PhD in Medical Sciences.

· Carol Coughlin is a highly experienced public and private company director and audit committee chair, a Board Leadership Fellow (NACD), and an accomplished healthcare CFO who has served as Director and Chair of the Financial Affairs Committee at the University of Maryland Medical Center since 2015. For more than 15 years, she has served as a Growth Advisor and CFO, working with privately held companies to transform client enterprise value through implementation of best practice financial and operations strategies. Prior to that, she was CFO for four healthcare companies with extensive experience in profitable and sustainable growth, turnarounds, and mergers & acquisitions.

· Ted Chung has more than twenty years of success in branding, corporate consulting, and communication strategy. Based in Los Angeles, he is the founder of a premiere diversity agency working with clients ranging from the largest streaming platforms & television studios to global consumer packaged goods brands. Ted is also a Co-Founder of venture capital firm Casa Verde Capital and has launched Emmy-nominated media platforms.

· Lorne Gertner co-founded Cynapsus Therapeutics (formerly Cannasat Therapeutics) which sold to pharmaceutical giant Sunovion in 2016 for US$635M. As a pioneer within disruptive industries, he co-founded and is the former chairman of PharmaCan Capital Corporation, now doing business as the publicly traded (TSX) Cronos Group Inc., which is Canada’s first publicly traded merchant bank in the medical marijuana sector. He is also a co-founder of Tokyo Smoke, which is now owned by Canopy Growth after being acquired in 2018.

· Steve Sadoff is the co-founder and CEO of GoodCap and its wholly owned subsidiary, Sansero Life Sciences Inc. He has more than 15 years of experience developing and launching products in highly regulated markets including nutraceuticals, pharmaceutical, beverage alcohol and natural health. With a proven track record of growing sales, building brands, and leading product development teams for Novartis, Jamieson Laboratories, AB InBev, and Bacardi, Steve has led the successful introduction of nearly 100 innovative products.

The new Board of Directors will help GoodCap accelerate its R&D initiatives to realize the benefits of mushroom-based products to promote and treat physical and mental health.

GoodCap’s wholly-owned R&D subsidiary Sansero Life Sciences Inc. is currently developing a revolutionary, low-dose psilocybin drug product aimed at displacing antidepressants as a safer and more effective daily solution. GoodCap is taking a proactive approach to Sansero’s identification and capture of intellectual property assets, ensuring that key technologies are protected at multiple steps of the supply chain for the drug product. The company expects to provide a detailed update about key regulatory and intellectual property milestones from Sansero’s research and development efforts in the coming weeks.

GoodCap recently launched its functional mushroom retail brand, A Good Mushroom, which focuses on promoting wellness and vitality through functional mushroom products readily available for consumption. A Good Mushroom recently opened its first retail concept in Toronto located at 298 Markham Street, serving a wide variety of functional mushroom products.

About GoodCap Wellness GoodCap Wellness Inc. (goodcapwellness.com) is a leading Canadian drug development and retail experience company devoted to harnessing and applying the physical and mental health benefits of mushrooms and mushroom-derived compounds. GoodCap’s wholly-owned R&D subsidiary, Sansero Life Sciences, is a leader in formulation, research and development of psilocybin-based therapeutic products and is dedicated to discovering natural therapies for neurological disorders and mental health conditions. GoodCap, through its retail brand A Good Mushroom, sells functional mushroom and lifestyle products at its retail location in Toronto.

 

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Press Contact

Corey Herscu for GoodCap Wellness Inc.

corey@verbfactory.com

(416) 300-3030