Psycheceutical Inc. Announces Initial Corporate Update
Psycheceutical, Inc., a bioscience company, has begun the process to update its OTC Markets profile after being fully acquired by Blue Water Ventures International Inc. (OTCPK: BWVI) on January 20, 2022. The merger makes Psycheceutical a wholly-owned subsidiary of BWVI, which will now focus on developing psychedelic drugs and drug delivery technologies. The company also plans corporate actions including a name and symbol change and aims to enhance the safety and efficacy of psychedelic compounds using patented delivery methods. CEO Chad Harman emphasized the importance of becoming a publicly-listed entity.
- Successful acquisition of Psycheceutical by BWVI, allowing focus on psychedelic drug development.
- Psycheceutical plans to enhance safety and efficacy of psychedelic compounds through patented delivery technologies.
- Strong leadership team with over 100 years of combined experience in pharmaceutical development.
- Potential risks from forward-looking statements regarding financial performance and product development.
- History of negative cash flows and limited operating history raising concerns about future profitability.
MIAMI, Feb. 11, 2022 /PRNewswire/ -- Psycheceutical, Inc., a bioscience company dedicated to the development and commercialization of psychedelic medicines, today announced the process to update OTC Markets has begun.
On Jan. 20, 2022, Psycheceutical, Inc. announced that it has been fully acquired by Blue Water Ventures International Inc. (OTCPK: BWVI). BWVI acquired Psycheceutical, Inc. by way of a merger, resulting in Psycheceutical becoming a wholly-owned subsidiary of BWVI. Since the acquisition has been completed, BWVI intends to cease its previous business activities and will focus solely on the development of psychedelic drugs and drug delivery technologies.
Psycheceutical, Inc. is removing barriers to care by employing two next-generation patented delivery technologies, via systemic and non-systemic routes of administration, to increase the safety and efficacy of psychedelic compounds.
Post final merger regulatory approval, the company will consummate related corporate actions, including a name and symbol change. The company is also in the process of updating the OTC Markets Corporate Profile to reflect the change in control.
"This is a very exciting time for our company and for the overall industry," commented Psycheceutical CEO Chad Harman. "Becoming a publicly-listed company is a critical step in our corporate maturation and will support our mission to deliver technologies that enhance and improve the safe delivery of psychedelic medicines."
Once the company transition is complete for all corporate actions, the company will commence regular updates for communications on company initiatives, technology developments, clinical and commercialization pathways.
About Psycheceutical, Inc.
Psycheceutical, Inc. is using cutting-edge delivery technologies to develop safe and effective psychedelic pharmaceutical medicines. Powered by a team with more than 100 years combined experience in development, regulatory approval processes, and commercialization across the pharmaceutical industry, Psycheceutical is on a mission to bring safety and efficacy to psychedelic compounds. Learn more at Psycheceutical.com.
Forward-Looking Statements
Certain statements in this news release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and is therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified using forward-looking words such as "will", "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "potential" or "continue", or the negative thereof or similar variations. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including the history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; lack of product revenue; compliance with laws and regulations; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early-stage product development; clinical trial risks; regulatory approval processes; the novelty of the psychedelic inspired medicines industry; as well as those risk factors discussed or referred to herein. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.
Media Contact:
Dianne Gleason
highmountaincomms@gmail.com
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SOURCE Psycheceutical, Inc.
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