PSYC Provides Update on Progress with PsycheDev Inc.

Rhea-AI Summary

Global Trac Solutions, Inc. (OTCPink: PSYC) has announced significant progress in its partnership with PsycheDev, Inc. since acquiring a 15% stake in January. The upcoming app focuses on enhancing mental well-being through interactive sessions and proven tools. Key advancements include completed prototypes and a Montreal-based development agency secured for app creation. CEO Justin Roy expresses optimism for a soft launch by Q3 2021. The collaboration aligns with the growing interest in digital mental health tools amid expanding acceptance of psychedelic therapies.

Positive

• Acquired a 15% equity stake in PsycheDev, indicating a strategic investment.
• Development of the PsycheDev app is progressing, with prototypes and wireframes completed.
• Engaged a qualified advisor in Kelli Foulkrod to enhance app development.

Negative

• None.

‘One-of-a-Kind’ Psychedelic Support App on Target for Q3 Launch

LAKE OSWEGO,OR, April 21, 2021 (GLOBE NEWSWIRE) -- Global Trac Solutions, Inc. (OTCPink: PSYC) (“Global” “PSYC” or the “Company”) the first publicly traded digital media company within the emerging sector of medicinal psychedelics, is pleased to provide an update regarding the partnership and investment it entered into in January with PsycheDev, Inc. (“PsycheDev), a Canadian-based digital mental health solutions startup.

Since the execution of a Joint Venture Partnership (the “JV”) with PsycheDev in January whereby PSYC acquired a 15% equity stake in the company, PsycheDev has made steady progress with the development of their one-of-a-kind app that will focus on optimizing user’s mental wellbeing and ability to enhance their personal psyche and achieve "peak performance" through interactive and guided sessions as well as a variety of practical and proven tools and exercises.

Of note, PsycheDev has added Kelli Foulkrod, MS, LPA, LPC, RYT, a highly-experienced and trained transpersonal psychotherapist and psychedelic integration therapist as a key advisor to its development team. Ms. Foulkrod is also a member of the PSYC Advisory Board. Additionally, PsycheDev has completed the first prototypes and wireframes of the user interface and graphic design associated with the app, and has identified a Montreal-based app development agency that will be responsible for the initial development of the app.

Justin Roy, Founder and CEO of PsycheDev, remains optimistic in the company’s ability to meet its established goal of a soft launch of the app by mid-to-late Q3 of this year.

"The whole team is working passionately right now to align every detail in the most effective way possible,” Said Justin Roy. “The pieces are coming together really well, and we are excited to keep moving forward with the planned launch. It's very inspiring to see that the solutions we are developing are no longer strictly ideas but more and more concrete every day. I think that all the efforts put into planning and preparation will show once we introduce the app later this year. I truly see it as a completely new approach to personal and professional development, inspired by the most promising ideas from research in plant medicine."

“We are quite encouraged with the ongoing progress Justin continues to make with the PsycheDev app,” Said Global Trac Solutions, Inc. CEO, David Flores. “Moving this app from concept to development is a huge undertaking, and I have a deep appreciation for the diligence and dedication he continues to demonstrate to ensure it is executed in the most effective manner possible. I also remain incredibly convinced of the value that the PsycheDev platform and app has the potential of delivering to a fairly large segment of our society once it is fully launched. From my perspective, popularity and interest in digital mental health tools designed to enhance and optimize mental performance and wellbeing is only growing larger across the globe and is coinciding with a more open approach to certain plant-based therapies. For this reason, among others, I believe the timing of PsycheDev’s app is about as opportunistic, in my opinion, as possible, and I look forward to PSYC playing an integral role in their eventual market launch.”

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, 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 believe in 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 truly are 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, 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

FAQ

What is the launch target for the PsycheDev app?

The PsycheDev app is targeted for a soft launch by mid-to-late Q3 2021.

How much equity did PSYC acquire in PsycheDev?

PSYC acquired a 15% equity stake in PsycheDev.

Who is involved in the development of the PsycheDev app?

Kelli Foulkrod, a trained psychotherapist and advisor, is a key member of the development team.

What are the main features of the PsycheDev app?

The app focuses on mental well-being, offering interactive sessions, tools, and exercises to optimize user performance.

What does PSYC aim to achieve in the psychedelic sector?

PSYC aims to position itself at the forefront of the psychedelic revolution and provide resources for research and investment opportunities.