Sponsored by Lithium Chile

From psychedelics to AI

Numinus Wellness (TSX: NUMI) is set to get into the artificial intelligence business. The firm this morning announced that it has entered into a letter of intent to acquire MedBright AI Investments (CSE: MBAI) to “AI-enable mental health clinics” within the US, while announcing a name change to Numinus Intelligence.

The merger is expected to combine AI-enabled clinical solutions from MedBright with that of data and experience from Numinus in an effort to improve the firms clinical operations and to capitalize on reimbursable healthcare options. The transaction is also expected to strengthen Numinus’ balance sheet, adding cash and securities of over $5.0 million.

You can read more on the matter here.

What’s going on?

• Conservatives Advance Lead in Vote Intention; Liberals and NDP Now Just Tied (theDeepDive)

• OpenAI competitor Anthropic announces its most powerful AI yet (CNBC)

• Indian Students No Longer Want to Come to Canada, Application Rate Falls 83% In March (theDeepDive)

• College Clampdown on Track to Halve Student Arrivals to Canada (Bloomberg)

• Interest in Chilean Lithium Projects Soars with Over 50 Companies Expressing Interest (theDeepDive)

• Bank of Canada Considered Waiting Until July to Cut Rates (Bloomberg)

• Senate Passes ADVANCE Act, Allowing Biden to Sanction Rosatom (theDeepDive)

• Trump Media shares sink 12% as DJT slide accelerates (CNBC)

• US to redirect Patriot air defence orders to Ukraine (FT)

• Elon Musk’s Ambitious Vision for “Everything App” X: The Next Venmo (theDeepDive)

• Senators approve bill to fight foreign interference after voting down amendment (Globe)

What’s the latest?

• Claude Release: Anthropic has unveiled its most advanced AI model, Claude 3.5 Sonnet, surpassing its previous model Claude 3 Opus in speed and capability. This new model excels in understanding nuance, humor, and complex instructions, making it proficient in generating high-quality content with a natural tone and coding capabilities.

• WestJet Strike: The threat of a strike by WestJet airplane mechanics has been averted for now, as both sides agreed to resume negotiations, leading to the cancellation of nearly 50 flights. The Canada Industrial Relations Board is still deliberating on whether to impose a collective agreement via binding arbitration, as proposed by WestJet.

• Renters To Buyers: According to a Royal LePage survey, the majority of Canadian renters have no plans to purchase a home, with only 27% intending to buy within the next two years. This figure increases to 40% among renters aged 18 to 34, but 69% of all renters do not plan to buy in the near term. High mortgage rates and insufficient income are major barriers, with 54% of those not planning to buy citing income concerns

• EV Concerns: Automakers in Canada, including Toyota and Honda, doubt the country will meet its target of 100% electric vehicle sales by 2035 due to insufficient consumer demand, high vehicle costs, and inadequate charging infrastructure. While the government’s incentive program has helped, challenges like range anxiety and the need for more chargers persist.

• Birth Rate Problem: The OECD reports a sharp decline in birth rates among its member countries, dropping to an average of 1.5 children per woman in 2022 from 3.3 in 1960. Economic uncertainties and the high costs associated with raising children are significant factors influencing this trend. Particularly low fertility rates were observed in Korea (0.7), Italy, and Spain (1.2), while Israel had the highest rate (2.9), followed by Mexico and France (1.8).

The current state of the silver bull market

The stock market and stuff

• Meta’s Threads API Goes Live (theDeepDive)

• Nvidia solidifies position as world's most valuable company (Reuters)

• EMX Royalty Borrows $35 Million From Franco-Nevada To Repay Sprott Loan (theDeepDive)

• Ocado Falls After Sobeys Puts Brakes on Vancouver Warehouse (Bloomberg)

• A Massive Ad Campaign Is Labeling Tether As “Tethered To Corruption” (theDeepDive)

In the juniors

• Verses AI Secures US$10 Million Investment From UAE-Based G42 (theDeepDive)

• Aurora Cannabis Sees Q4 Growth In Medical Cannabis While Consumer Segment Declines Materially (theDeepDive)

• Analyst Reverses ‘Never Just One Cockroach’ Stance on Verano Holdings, Goes Long After $50M Buyback Announcement (theDeepDive)

• Numinus Wellness To Acquire MedBright AI In Bid To Add Artificial Intelligence To Portfolio (theDeepDive)

FULL DISCLOSURE: Lithium Chile is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Lithium Chile. The author has been compensated to cover Lithium Chile on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.