Psyched Wellness Announces Grant of Options
Psyched Wellness announced the grant of 3,800,000 stock options to its directors, officers, consultants, and employees under its Stock Option Plan. These options will vest in four months and the underlying shares are subject to a four-month hold period as per CSE policies. CEO Jeff Stevens expressed the company's commitment to reward its team for securing a $7.5M USD investment from Gotham Green Partners, ensuring alignment with the company's success. The company aims to boost direct-to-consumer (D2C) sales through its online store and expand its presence in brick-and-mortar retailers. Psyched Wellness is the first to offer Amanita Muscaria products in Erewhon, Market of Choice, and Good Earth Markets. Their proprietary extract, AME-1, is the first legal Amanita Muscaria extract for human consumption in the USA, positioning the company for upcoming retail launches.
- Granted 3,800,000 stock options to align team with company success.
- Secured a $7.5M USD investment from Gotham Green Partners.
- Focus on increasing D2C sales via online store.
- Expanding presence in brick-and-mortar stores.
- First Amanita Muscaria products sold in Erewhon, Market of Choice, and Good Earth Markets.
- AME-1, the first legal Amanita Muscaria extract for human consumption in the USA.
- Stock options and underlying shares subject to a four-month hold period.
Toronto, Ontario--(Newsfile Corp. - May 17, 2024) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched"), a life sciences company focused on the production and distribution of health and wellness products derived from the Amanita Muscaria mushroom, announces that it has granted 3,800,000 Stock Options to directors, officers, Consultants and employees in accordance with the terms of the Stock Option Plan. The Stock Options granted will the vest after four months. The Common Shares underlying the Stock Options are subject to a four month hold period in accordance with the policies of the Canadian Securities Exchange (the "CSE").
Jeff Stevens, Psyched Wellness Chief Executive Officer, commented, "Management and the board helped navigate the structuring and closing the
Psyched Wellness is focused on increasing D2C sales via our online store while continuing to identify key retailers that champion cool, new brands in the wellness space for our brick-and-mortar expansion. We are proud to be the first Amanita Muscaria derived products sold in Erewhon stores, Market of Choice, and Good Earth Markets. Our proprietary extract, AME-1, the first legal for human consumption extract of Amanita Muscaria in the USA, positions us to be able to work with the top retailers in the USA, and we look forward to sharing additional retail launches soon.
Psyched Wellness will be growing their route-to-market partnerships, throughout the nation. If you are interested in distributing/listing Calm, please reach out to sales@psyched-wellness.com.
Visit for more information about ordering the product directly.
For further information, please contact:
Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
Tel: 647-400-8494
Email: jstevens@psyched-wellness.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
About Psyched Wellness Ltd.:
Psyched Wellness Ltd. is a Canadian-based health supplements company dedicated to the distribution of Amanita Muscaria -derived products and associated consumer packaged goods. The Company's objective is to create premium Amanita Muscaria -derived products that have the potential to become a leading North American brand in the emerging functional food category. The Company is in the process of developing a line of Amanita muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping.
Cautionary Statement Regarding Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the ability of the Company to develop Amanita Muscaria-derived products; the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and (ii) the uses and potential benefits of Amanita Muscaria.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop its mushroom-derived products and associated consumer packaged goods; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the psychedelics market; risks with respect to the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and the risk that there is no potential benefit of Amanita Muscaria consumption.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209717
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