Canadian Lawyer

www.canadianlawyermag.com 5 Altshuler at Aird & Berlis. "A lot of our clients have taken a bit of a breather from their traditional capital markets work and have been working more [on] operations." Psilocybin and psilocin are regulated as controlled substances, listed in schedule 3 of the Controlled Drugs and Substances Act, explains Chandimal Nicholas, a partner in the intellectual property group at Cassels Brock & Blackwell LLP. Although the restrictions and penalties imposed for the improper use of psilocybin are less significant than with harder drugs, he says they are still burdensome. "Health Canada was now kind of taking notice that this was the next big industry, and they're taking stock of who had what license and what people were doing," says Nicholas. "You can get an exemption under s. 56 of the Controlled Drugs and Substances Act. But they only grant that exemption in two circumstances: one, for the purposes of scientific research, and two, for the purposes of clinical trials." Although Nicholas agrees that there has been a slow down in recent months in the area, there is still a lot of interest from clients. "The word I'm hearing is that the science is promising [and] that there is a lot of evidence to suggest that these active ingredients, psilocybin, psilocin, can poten- tially be effective in a variety of different conditions, whether they be PTSD or other "Health Canada was now kind of taking notice that this was the next big industry, and they're taking stock of who had what license and what people were doing." Chandimal Nicholas, Cassels Brock & Blackwell LLP DEALER'S LICENSES FOR PSILOCYBIN Health Canada reviews all holders of dealer's licenses for the use and exploitation of psilocybin. According to regulatory lawyers at Cassels Brock & Blackwell LLP, the following are some of the typical questions they ask: mental health conditions." Ronan Levy, a former practising corporate lawyer, was so optimistic that he founded Field Trip Health, dedicated to psychedelic therapies. He worked in cannabis as well after he stopped practising law but is effusive about the potential for psychedelics. "I personally believe this is going to fundamentally disrupt most c urrent approaches through psychiatry." Levy is also confident that governments will loosen the laws to make these drugs more widely available to clinicians. "We've been very active in lobbying the government, to the Canadian Psychedelic Association, and the feedback from across the political spectrum has been really posi- tive with respect to access to psilocybin assisted therapies." Detailed list of activities conducted with psilocybin Detailed information on research List who you are or are intending to sell or provide psilocybin to How you are producing the psilocybin Preparation(s) for drug production in dosage form (quantity per capsule, tablet, etc.) Security measures of the cultivation location for cultivating fungi Supplier of starting material(s) for production Total yearly quantity of psilocybin, if producing raw material Details on the supplier of the substance, if not producing

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