Key Takeaways; Cannabis Sector

• Verano Holdings Took a Major Step Toward U.S. Exchange Uplisting with 1-for-5 Reverse Stock Split
• Trulieve Became First U.S. Cannabis Company to Uplist to the New York Stock Exchange

Key Takeaways; Psychedelic Sector

• Optimi Health Expanded Commercial Psilocybin Supply for Depression Treatment and Clinical Research
• Clearmind Medicine Highlighted Early CMND-100 Trial Findings Ahead of Investor Webinar
• MIRA Pharmaceuticals Secured Global Rights to Key Drug Candidates, Strengthening its Pipeline Strategy

Below is a weekly roundup of what happened this week in the cannabis and psychedelic sectors. In this ever-evolving landscape, we explore the major developments and groundbreaking initiatives happening among companies operating in these industries; from advancements in medical research, therapeutic applications to shifts in legal frameworks and current market trends.

Top Marijuana Companies for the Week

#1: Verano Holdings

Cannabis multi-state operator Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNO) approved a 1-for-5 reverse stock split as part of its strategy to prepare for a potential listing on a major U.S. stock exchange, joining a growing wave of cannabis companies positioning themselves for broader access to U.S. capital markets.

The reverse stock split, which is expected to take effect around June 11, will consolidate every five existing shares into one new share, reducing Verano’s outstanding share count from approximately 364.4 million to 72.9 million shares. While the transaction does not alter the company’s overall market value, it is expected to increase the share price proportionately and help satisfy listing requirements for larger U.S. exchanges.

Management believes the move could also improve institutional investor access and interest as regulatory reforms continue to reshape the cannabis industry. “The Reverse Stock Split marks another significant step forward for Verano and our future and builds on a series of strategic initiatives we’ve executed to position Verano ahead of growth and U.S. capital markets opportunities,” said Verano founder and Chief Executive Officer George Archos.

Archos added that the decision follows recent momentum surrounding federal cannabis policy reform. “On the heels of the historic medical cannabis rescheduling announcement and in anticipation of prospective reforms that may follow in the near future, the reverse stock split is a prudent strategic measure that prepares the Company for listing on a major U.S. exchange,” he said.

The move builds on Verano’s broader efforts to position itself for future market opportunities, including the company’s redomiciling from British Columbia to Nevada in late 2025. The company currently operates one of the largest footprints in the U.S. cannabis industry, with 162 dispensaries, 14 cultivation and processing facilities, and more than 1.1 million square feet of cultivation capacity across 13 states.

The company’s shares will continue trading under the symbol “VRNO” on Cboe Canada and OTCQX following the reverse split.

Verano’s announcement follows a similar move by fellow cannabis operator Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF), which also recently completed a 1-for-3 reverse stock split of its subordinate voting shares, highlighting a broader industry trend as major U.S. cannabis companies prepare for potential up-listings amid an evolving regulatory environment.

#2: Trulieve

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) achieved a historic milestone for the U.S. cannabis sector after receiving approval to list its subordinate voting shares on the New York Stock Exchange (NYSE), becoming the first American cannabis company to trade on a major U.S. exchange.

The company’s shares are expected to begin trading on the NYSE under the ticker symbol “TRLV” on June 10, marking a significant step forward for both Trulieve and the broader cannabis sector.

Trulieve founder and Chief Executive Officer, Kim Rivers, described the uplisting as a landmark achievement made possible by recent federal regulatory changes. “As the first U.S. cannabis company to list on a major U.S. exchange, we are excited for the opportunity to expand our shareholder base, increase liquidity, and raise awareness for the benefits of medical marijuana,” Rivers said. “Uplisting to the NYSE is a major advancement for Trulieve and the industry,” she added.

The listing follows the federal reclassification of medical marijuana to Schedule III in April 2026, a move that created a pathway for state-licensed medical cannabis businesses to gain greater access to U.S. capital markets. The policy change stemmed from an executive order signed by President Donald Trump in late 2025 and was subsequently implemented by federal regulators.

Trulieve operates 206 medical cannabis dispensaries supported by approximately 3.5 million square feet of production capacity registered with the U.S. Drug Enforcement Administration, making it one of the largest medical cannabis operators in the country.

Rivers said the company remains focused on expanding patient access while leveraging its strong financial position. “Since inception, Trulieve has focused on serving medical patients with compassion, care, and high-quality products,” she said. “With robust cash generation and meaningful catalysts ahead, including expansion in Georgia and Texas, Trulieve is well positioned to deliver on our promise to increase access to medical cannabis for U.S. patients.”

The NYSE approval is widely viewed as a watershed moment for the cannabis industry, signaling that federal reforms are beginning to unlock access to major U.S. exchanges for compliant medical cannabis operators. Industry observers expect the move could pave the way for additional multi-state operators to pursue similar up-listings in the months ahead.

Trulieve shares will continue trading on the Canadian Securities Exchange under the symbol “TRUL” until June 9, while existing shareholders are not required to take any action in connection with the NYSE listing.

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Top Psychedelic Companies for Week

#1: Optimi Health

Optimi Health Corp. (NASDAQ: OPTH) completed a new Good Manufacturing Practice (GMP) production run of its 5mg psilocybin capsules, strengthening supply for patients with treatment-resistant depression (TRD) in Australia while also supporting upcoming clinical trials in the United States and Europe.

According to the company, the capsules use the same formulation already prescribed under Australia’s regulated treatment framework for TRD. Optimi said it had also updated the product’s packaging configuration to improve usability for both prescribers and patients.

The production run was carried out entirely at the company’s British Columbia facility, where all stages of manufacturing; including biomass cultivation, psilocybin extraction, encapsulation, and packaging, were completed under Optimi’s Health Canada Drug Establishment Licence. The vertically integrated process allows the company to control production from raw botanical material through to finished pharmaceutical products.

Chief Executive Officer and Co-Founder of Optimi, Dane Stevens, said the achievement highlights Optimi’s ability to serve both commercial patients and clinical researchers from the same manufacturing platform. “The same 5mg psilocybin medicine prescribed in-clinic for treatment-resistant depression today, within a fully regulated framework, is the drug also being studied in clinical trials across a range of indications,” Stevens said. “We are proud to supply patients today and the researchers shaping what comes next.”

The company noted that part of the newly manufactured supply had been allocated to planned research programs in the United States and Europe, where investigators are studying psilocybin’s potential across multiple therapeutic indications.

Optimi’s facility includes pharmaceutical-grade production infrastructure and secure storage capacity authorized by Health Canada. The company is licensed to hold up to 20 kilograms of psilocybin and approximately 2,000 kilograms of biomass on-site, supporting commercial-scale manufacturing and international distribution.

The latest production milestone reinforces Optimi’s position in the emerging psychedelic medicines sector, where it supplies both psilocybin and MDMA products to regulated therapeutic and research programs.

#2: Clearmind Medicine

Clearmind Medicine Inc. (NASDAQ: CMND) announced a live webinar scheduled for June 10 that will provide investors and the public with new insights from its ongoing Phase I/IIa clinical trial evaluating CMND-100, the company’s proprietary non-hallucinogenic MEAI-based treatment for Alcohol Use Disorder (AUD).

According to Clearmind, the event, titled “Inside MEAI: Exclusive Investigator Q&A with Yale & Johns Hopkins,” will feature researchers involved in the FDA-approved multi-center study, including Dr. Anahita Bassir Nia of Yale School of Medicine and Dr. Jennifer Ellis of Johns Hopkins Medicine. The investigators are expected to discuss the latest clinical observations and emerging data from the trial.

Clearmind Chief Executive Officer Dr. Adi Zuloff-Shani will also provide an update on the company’s clinical development strategy and broader corporate progress. The webinar will be moderated by Shannon Smadella, Co-Executive Director of World Psychedelics Day and Special Advisor to Clearmind.

CMND-100 is a non-hallucinogenic oral drug candidate derived from MEAI, a proprietary compound being developed as a potential treatment for alcohol use disorder. Unlike traditional psychedelic therapies, the drug is designed to deliver therapeutic benefits without inducing hallucinations.

The webinar comes as investor interest in Clearmind continues to grow. Following the announcement, Clearmind shares surged 36.77% on Friday, reflecting market optimism surrounding the upcoming presentation and the potential of the company’s novel addiction-treatment program.

#3: MIRA Pharmaceuticals

MIRA Pharmaceuticals, Inc. (NASDAQ: MIRA) announced it had secured exclusive worldwide rights to its investigational drug candidates MIRA-55 and SKNY-1 through an amended licensing agreement with MIRALOGX LLC, giving the company full global control over development, commercialization, sublicensing, and intellectual property enforcement for both programs.

According to the company, the agreement created a unified rights structure across its core pipeline and is expected to enhance MIRA’s flexibility in pursuing future licensing, partnership, and commercialization opportunities. MIRA also noted that the amended deal does not materially change the economic terms of the previously disclosed licensing arrangements.

With this agreement, MIRA now holds worldwide exclusive rights across all three of its lead programs: Ketamir-2, MIRA-55, and SKNY-1.

“This agreement gives MIRA global development and commercialization rights across its entire pipeline,” said Chairman and CEO, Erez Aminov, of MIRA Pharmaceuticals. “As we advance Ketamir-2 into Phase 2a and move both MIRA-55 and SKNY-1 toward IND filings, having a clean, unified worldwide rights structure in place is exactly where we need to be. It strengthens our position with partners, with investors, and across every market we intend to operate in”.

MIRA-55 is being developed as a potential non-opioid treatment for chronic inflammatory pain. The cannabinoid-based compound has demonstrated pain-relieving effects comparable to morphine in preclinical studies while minimizing psychoactive activity commonly associated with cannabinoid therapies. The company also noted that the U.S. Drug Enforcement Administration has determined MIRA-55 is not classified as a controlled substance.

SKNY-1 is an oral investigational therapy targeting obesity and addiction-related disorders. The candidate is designed to influence multiple metabolic and reward-related pathways simultaneously and has shown promising preclinical results, including dose-dependent weight reduction and lipid normalization.

Commenting on this deal, Chief Scientific Advisor of MIRA Pharmaceuticals, Dr. Itzchak Angel, said the two programs address large patient populations with significant unmet medical needs. “What sets these programs apart is their differentiated approach – targeting pathways that existing therapies either miss or handle poorly,” Angel said. “Securing worldwide exclusive rights ensures we control how these assets are developed and ultimately reach patients.”