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New Mexico Governor Signs Bill Allowing for Psilocybin Use

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Hypha Labs (OTCQB:FUNI) announces the signing of the 'Medical Psilocybin Act' (SB 219) by New Mexico Governor Michelle Lujan, establishing the third state-legal psilocybin access system in the United States. The legislation will allow patients with qualifying conditions to access psilocybin under licensed healthcare provider supervision.

The company, known for its MicroPearls™ product line, is developing a device for home-based mushroom ingredient production with 8-day growth cycles. CEO Stone Douglass describes this legislative development as a 'watershed event' for functional mushrooms, anticipating that other jurisdictions will follow New Mexico's example.

Hypha Labs (OTCQB:FUNI) annuncia la firma del 'Medical Psilocybin Act' (SB 219) da parte della governatrice del New Mexico, Michelle Lujan, che stabilisce il terzo sistema legale di accesso alla psilocibina negli Stati Uniti. La legislazione consentirà ai pazienti con condizioni idonee di accedere alla psilocibina sotto la supervisione di un fornitore di assistenza sanitaria autorizzato.

L'azienda, nota per la sua linea di prodotti MicroPearls™, sta sviluppando un dispositivo per la produzione di ingredienti a base di funghi da utilizzare a casa, con cicli di crescita di 8 giorni. Il CEO Stone Douglass descrive questo sviluppo legislativo come un 'evento fondamentale' per i funghi funzionali, prevedendo che altre giurisdizioni seguiranno l'esempio del New Mexico.

Hypha Labs (OTCQB:FUNI) anuncia la firma del 'Medical Psilocybin Act' (SB 219) por parte de la gobernadora de Nuevo México, Michelle Lujan, estableciendo el tercer sistema legal de acceso a la psilocibina en los Estados Unidos. La legislación permitirá a los pacientes con condiciones calificadas acceder a la psilocibina bajo la supervisión de un proveedor de atención médica autorizado.

La empresa, conocida por su línea de productos MicroPearls™, está desarrollando un dispositivo para la producción de ingredientes de hongos en casa, con ciclos de crecimiento de 8 días. El CEO Stone Douglass describe este desarrollo legislativo como un 'evento crucial' para los hongos funcionales, anticipando que otras jurisdicciones seguirán el ejemplo de Nuevo México.

하이파 연구소 (OTCQB:FUNI)는 뉴멕시코 주지사 미셸 루한이 '의료 실로시빈 법안' (SB 219)에 서명했다고 발표하며, 이는 미국에서 세 번째로 법적으로 실로시빈 접근 시스템을 확립하는 것입니다. 이 법안은 자격 조건을 갖춘 환자들이 면허가 있는 의료 제공자의 감독 하에 실로시빈에 접근할 수 있도록 허용합니다.

회사에서는 마이크로펄스™ 제품 라인으로 알려져 있으며, 8일 성장 주기로 집에서 버섯 성분을 생산할 수 있는 장치를 개발 중입니다. CEO 스톤 더글라스는 이 법률 발전을 기능성 버섯에 대한 '중대한 사건'으로 설명하며, 다른 관할권들도 뉴멕시코의 사례를 따를 것이라고 예상하고 있습니다.

Hypha Labs (OTCQB:FUNI) annonce la signature de la 'Loi sur la Psilocybine Médicale' (SB 219) par la gouverneure du Nouveau-Mexique, Michelle Lujan, établissant le troisième système d'accès légal à la psilocybine aux États-Unis. La législation permettra aux patients ayant des conditions éligibles d'accéder à la psilocybine sous la supervision d'un professionnel de santé agréé.

L'entreprise, connue pour sa gamme de produits MicroPearls™, développe un dispositif pour la production d'ingrédients à base de champignons à domicile, avec des cycles de croissance de 8 jours. Le PDG Stone Douglass décrit ce développement législatif comme un 'événement décisif' pour les champignons fonctionnels, anticipant que d'autres juridictions suivront l'exemple du Nouveau-Mexique.

Hypha Labs (OTCQB:FUNI) gibt die Unterzeichnung des 'Medical Psilocybin Act' (SB 219) durch die Gouverneurin von New Mexico, Michelle Lujan, bekannt, wodurch das dritte staatlich legale Zugangssystem für Psilocybin in den Vereinigten Staaten eingerichtet wird. Die Gesetzgebung ermöglicht es Patienten mit qualifizierenden Bedingungen, unter der Aufsicht eines lizenzierten Gesundheitsdienstleisters auf Psilocybin zuzugreifen.

Das Unternehmen, das für seine Produktlinie MicroPearls™ bekannt ist, entwickelt ein Gerät zur Herstellung von Pilzbestandteilen für den Heimgebrauch mit 8-tägigen Wachstumszyklen. CEO Stone Douglass beschreibt diese gesetzgeberische Entwicklung als ein 'Wendepunkt' für funktionale Pilze und erwartet, dass andere Jurisdiktionen dem Beispiel von New Mexico folgen werden.

Positive
  • New market opportunity in New Mexico as third state to legalize psilocybin access
  • Development of innovative home-based mushroom production device
  • Potential for market expansion as other states follow similar legislation
Negative
  • Implementation timeline and regulatory requirements not specified
  • Market size and revenue potential in New Mexico unclear

‘Medical Psilocybin Act' Provides Legal Access to Citizens for the First Time

LAS VEGAS, NV / ACCESS Newswire / April 9, 2025 / Hypha Labs, Inc. (OTCQB:FUNI), a pioneer in functional mushroom sciences and the creator of the MicroPearls™ suite of products, is pleased to announce that New Mexico governor Michelle Lujan signed SB 219, the Medical Psilocybin Act, which will establish the third state-legal psilocybin access system in the United States.

The Medical Psilocybin Act will provide patients with specific qualifying conditions to obtain the psychedelic and to use it under the guidance of a licensed healthcare provider.

"Today is another watershed event for functional mushrooms and the growing acceptance of their practical use in an array of applications," stated Hypha Labs Chief Executive Officer, Stone Douglass. "And it is long overdue."

"As we embark on our journey to create the first device of its kind which will truly democratize mushroom ingredient production by allowing an individual to produce their desired ‘crops' in predictable eight day cycles from the privacy and comfort of home, transformative events like this both affirm our mission and expand our market."

"We believe as the legislative dominoes fall that other jurisdictions will see the successes in places like New Mexico as a template for their own jurisdictions," added Douglass.

"We are at a tipping point."

About Hypha Labs, Inc.
The company has developed revolutionary, cutting-edge technology focused on new methods of producing the active ingredients found in a wide array of functional mushrooms using its patent-pending mushroom accelerators. The Company is positioning itself to play an important role in the burgeoning Functional Mushroom industry in addition to being a disruptive force in future and emerging mushroom opportunities. Visit us at HyphaLabs.com.

SAFE HARBOR FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company's most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "likely" or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.

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For more information about Hypha Labs visit HyphaLabs.com

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SOURCE: Hypha Labs, Inc.



View the original press release on ACCESS Newswire

FAQ

What does the New Mexico Medical Psilocybin Act (SB 219) mean for FUNI stock?

The act establishes legal psilocybin access in New Mexico, potentially expanding FUNI's market opportunities as the third state to legalize psilocybin access.

How will FUNI's MicroPearls technology benefit from New Mexico's psilocybin legalization?

The legislation could increase demand for FUNI's home-based mushroom production device, which produces ingredients in 8-day cycles.

What is the significance of New Mexico becoming the third state with legal psilocybin access for FUNI?

It represents growing market acceptance and potential expansion opportunities for FUNI's functional mushroom products and technologies.

When will New Mexico's Medical Psilocybin Act take effect for FUNI operations?

The specific implementation date is not mentioned in the press release.
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