- Reset withdraws its offers under the Prospectus lodged with ASIC on November 9, 2023, and will remain a subsidiary of Little Green Pharma (ASX:LGP)
- The withdrawal follows from the AIM stock exchange’s decision that PAP is currently not allowed in the United Kingdom
- Despite this setback, the company maintains an optimistic outlook on the global progress of psychedelics and anticipates the legalisation of PAP services in the UK in the near future
- LGP last traded at 13.8 cents
Reset Mind Sciences has withdrawn its offers under the Prospectus lodged with ASIC on November 9, 2023, and will remain a subsidiary of Little Green Pharma (ASX:LGP).
The decision follows a ruling by the AIM stock exchange that psychedelic-assisted psychotherapy (PAP) is currently not permitted in the United Kingdom. This prevents UK funds from investing and postpones Reset’s ability to list on a UK exchange.
Despite this setback, the company maintains an optimistic outlook on the global progress of psychedelics and anticipates the legalisation of PAP services in the UK in the near future.
At that point, Reset intends to resume engagement with regulators.
In the interim, Little Green Pharma will continue to advance its prominent position in the global psychedelics industry.
LGP last traded at 13.8 cents.