PSYC Continues to See Strong Value Potential Tied to Its Investment in The Conscious Fund
Global Trac Solutions (OTCPink: PSYC) provided a business update regarding its investment in The Conscious Fund (TCF). In January 2021, PSYC invested $125,000 in TCF, aiming to diversify within the medicinal psychedelics market. The company expressed optimism about TCF's portfolio, noting significant advancements in companies like Albert Labs, Wesana Health, Enveric Biosciences, Cybin, and Numinus Wellness. CEO David Flores highlighted the potential for increased shareholder value from this investment, despite the inherent uncertainties in such ventures.
- PSYC's investment of $125,000 in The Conscious Fund positions it well within the growing medicinal psychedelics sector.
- TCF portfolio companies have made significant advancements, enhancing the potential value of PSYC's investment.
- Albert Labs is progressing towards patient treatments with psilocybin therapy, which could generate future revenue.
- Wesana Health received FDA approval for a pre-IND meeting, indicating regulatory progress for its major depressive disorder treatment.
- Enveric Biosciences raised $25M and uplisted to NASDAQ, demonstrating strong market confidence.
- Cybin became the first psychedelic company listed on NYSE, increasing visibility and potential for investment.
- Numinus Wellness completed its uplisting to OTCQX, further legitimizing the psychedelic sector.
- No guaranteed success for companies within TCF's portfolio, highlighting investment risks.
LAKE OSWEGO,OR, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Global Trac Solutions, Inc. (OTCPink: PSYC) (“Global” “PSYC” or the “Company”) a media leader for the emerging medicinal psychedelics sector, and authorities behind Psychedelic Spotlight, a top ranking psychedelic news and information platform, is pleased to provide an update on the Company’s investment position with The Conscious Fund (“TCF”), a leading investment fund focused on early-stage ventures in the emerging psychedelic medicine sector.
In January of 2021, PSYC earned its position as a stakeholder in TCF’s impressive portfolio of evolving psychedelic-focused companies by way of its completion of a
Though it maintains there can be no assurances, the Company states that this investment was intended to diversify its positioning within the burgeoning medicinal psychedelic space and present PSYC with the potential to earn a positive return on its investment based on the anticipated success it believes many of the companies within TCF’s portfolio may achieve over the next several years.
Over the past 12 months, a solid number of the TCF’s portfolio companies have made encouraging progress in their development which, pursuant to the Company, lends to its optimistic outlook in the stake it has in the portfolio.
The Company believes that the following highlights are effective demonstrations of this progress:
- Albert Labs is closing
$4M in its Series A ahead of its listing on the CSE and is targeting late 2022 to begin treating patients with cancer related anxiety through psilocybin therapy - Wesana Health recently announced that it has received approval from the FDA granting Wesana’s request for a pre-IND (Investigational New Drug) meeting to discuss the novel therapy and proprietary protocol of SANA-013 for the treatment of Traumatic Brain Injury (TBI) related major depressive disorder (MDD)
- Enveric Biosciences (f/k/a MagicMed Industries) raised
$25M , uplisted to the NASDAQ, and recently filed 15 patent applications with claims directed to millions of individual molecules - Cybin became the first psychedelic-focused company to list on the NYSE and continues to make tremendous progress with its novel psychedelic compounds that are targeting disorders such as depression and alcoholism
- Numinus Wellness recently completed its up listing to the OTCQX and also announced in January that its research facility – Numinus Bioscience – has been included on Health Canada’s list of federally licensed psilocybin producers
“In just a years’ time since completing our initial investment with TCF, we have watched the value potential associated with their portfolio, and our investment, increase tremendously based on the exciting progress many of these companies have made in the last several months,” said PSYC CEO, David Flores.
“Acquiring a stake in TCF was always intended to be a strategic move on our part to help strengthen shareholder value by creating an element of diversification to PSYC’s holdings. And while the actual long-term success associated with any of the companies within TCF’s portfolio cannot be guaranteed, we firmly believe that many of them are demonstrating the very real capability of becoming next-generation leaders for this emerging sector of psychedelic medicine. Therefore, it is hard for us to not be encouraged by the value return potential we continue to see in our stake in TCF and we are eager to see what exciting developments are in store for many of these companies throughout 2022.”
About Global Trac Solutions, Inc. (OTCPink: PSYC)
At Global Trac Solutions we are integrating media, creativity, and technology to develop and deploy thought-provoking ideas and solutions that are fostering and transforming the approach to some of society’s most pressing matters.
PSYC has expressed its intent and commitment to positioning itself at the forefront of the psychedelic revolution and as a resource center for discovering and understanding the latest research and business opportunities surrounding psychedelic inspired medicines. In conjunction with the FDA’s more open-minded approach to psychedelic medicines, and as several major U.S. cities continue to approve the decriminalization of psilocybin, we believe investors are speculating that the psychedelic boom could be bigger than that of cannabis. PSYC is your source for current investment related news specific to psychedelic medicines and cutting-edge research improving overall health, moving this sector into the mainstream.
We are dedicated to a forward-thinking approach that embraces groundbreaking new technology and innovations and through the vision of business development we intend to continue to evolve into these unchartered territories as the industry leaders of the future. We contend that we are truly the right TRAC to follow.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors, including the effect of COVID-19 and the success of the current vaccine distribution, that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
Disclaimer: Global Trac Solutions, Inc. does not in any way encourage or condone the use, purchase, sale or transfer of any illegal substances, nor do we encourage or condone partaking in any unlawful activities. We support a harm reduction approach for the purpose of education and promoting individual and public safety. If you are choosing to use psychedelic substances, please do so responsibly.
Corporate Contact:
Global Trac Solutions, Inc. (PSYC)
www.globaltracsolutions.com
(702) 239-1919
psyc@globaltracsolutions.com
OTCPINK: PSYC
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