Psyched Wellness Announces Supply Chain Disruption in the US
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) has announced a supply chain disruption at its sole US manufacturing facility on July 27, 2024. The facility, operated by a third-party contractor, produces Psyched's proprietary extracts AME-1 and Calm. In response, the company has suspended online sales to prioritize supporting retail partners and monthly subscribers for the next 8-12 weeks using existing inventory.
CEO Jeffrey Stevens stated that the company is focused on securing additional co-manufacturers to resume production as soon as possible. This disruption highlights the importance of a reliable supply chain for Psyched Wellness's operations and its commitment to maintaining product availability for customers.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) ha annunciato una disruzione della catena di approvvigionamento presso il suo unico stabilimento di produzione negli Stati Uniti il 27 luglio 2024. Lo stabilimento, gestito da un appaltatore terzo, produce gli estratti proprietari di Psyched AME-1 e Calm. In risposta, l'azienda ha sospeso le vendite online per dare priorità al supporto dei partner commerciali e degli abbonati mensili per le prossime 8-12 settimane utilizzando l'inventario esistente.
Il CEO Jeffrey Stevens ha dichiarato che l'azienda è focalizzata sul garantire ulteriori co-manufacturers per riprendere la produzione il prima possibile. Questa disruzione evidenzia l'importanza di una catena di approvvigionamento affidabile per le operazioni di Psyched Wellness e il suo impegno a mantenere la disponibilità dei prodotti per i clienti.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) ha anunciado una disrupción en la cadena de suministro en su única instalación de fabricación en EE. UU. el 27 de julio de 2024. La instalación, operada por un contratista externo, produce los extractos patentados de Psyched AME-1 y Calm. En respuesta, la compañía ha suspendido las ventas en línea para priorizar el apoyo a sus socios minoristas y suscriptores mensuales durante las próximas 8-12 semanas utilizando el inventario existente.
El CEO Jeffrey Stevens indicó que la empresa está enfocada en asegurar fabricantes colaborativos adicionales para reanudar la producción lo antes posible. Esta disrupción resalta la importancia de una cadena de suministro confiable para las operaciones de Psyched Wellness y su compromiso de mantener la disponibilidad de productos para los clientes.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF)는 2024년 7월 27일 미국의 유일한 제조 시설에서 공급망 중단을 발표했습니다. 이 시설은 제3자 계약자가 운영하며, Psyched의 독점 추출물 AME-1과 Calm을 생산합니다. 이에 따라 회사는 다음 8-12주 동안 기존 재고를 사용하여 소매 파트너와 월간 구독자를 지원하는 데 우선순위를 두기 위해 온라인 판매를 일시 중단했습니다.
CEO 제프리 스티븐스는 회사가 가능한 한 빨리 생산 재개를 위해 추가 공동 제조업체 확보에 집중하고 있다고 밝혔습니다. 이번 중단은 Psyched Wellness의 운영에 있어 신뢰할 수 있는 공급망의 중요성과 고객을 위한 제품 가용성을 유지하려는 노력의 중요성을 강조합니다.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) a annoncé une perturbation de la chaîne d'approvisionnement dans sa seule installation de fabrication aux États-Unis le 27 juillet 2024. L'installation, exploitée par un entrepreneur tiers, produit les extraits propriétaires AME-1 et Calm de Psyched. En réponse, l'entreprise a suspendu les ventes en ligne pour prioriser le soutien aux partenaires de vente au détail et aux abonnés mensuels pour les 8 à 12 prochaines semaines en utilisant l'inventaire existant.
Le PDG Jeffrey Stevens a déclaré que l'entreprise était axée sur la sécurisation de fabricants supplémentaires afin de reprendre la production dès que possible. Cette perturbation met en évidence l'importance d'une chaîne d'approvisionnement fiable pour les opérations de Psyched Wellness et son engagement à maintenir la disponibilité des produits pour les clients.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) hat am 27. Juli 2024 eine Störung in der Lieferkette in seiner einzigen Produktionsstätte in den USA bekannt gegeben. Die Einrichtung, die von einem Drittanbieter betrieben wird, produziert die proprietären Extrakte AME-1 und Calm von Psyched. Als Reaktion darauf hat das Unternehmen den Online-Verkauf eingestellt, um die Unterstützung für Einzelhandelspartner und monatliche Abonnenten in den nächsten 8-12 Wochen mit bestehendem Inventar zu priorisieren.
CEO Jeffrey Stevens erklärte, dass das Unternehmen darauf fokussiert ist, zusätzliche Co-Hersteller zu sichern, um die Produktion so schnell wie möglich wieder aufzunehmen. Diese Störung hebt die Bedeutung einer zuverlässigen Lieferkette für die Abläufe von Psyched Wellness hervor und bekräftigt das Engagement des Unternehmens, die Produktverfügbarkeit für die Kunden aufrechtzuerhalten.
- Existing inventory allows support for retail partners and subscribers for 8-12 weeks
- Company is actively seeking additional co-manufacturers to resume production
- Supply chain disruption at sole US manufacturing facility
- Suspension of online sales due to production issues
- Potential loss of revenue from online sales during disruption period
- Risk of extended production delays if new manufacturers are not secured quickly
Toronto, Ontario--(Newsfile Corp. - August 6, 2024) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) ("Psyched"), a life sciences company focused on the production and distribution of health and wellness products, announces that on July 27th, 2024, it was notified of a supply chain disruption at its sole manufacturing facility in the United States. The facility is operated by a third-party contractor and is used by Psyched to produce its proprietary extracts AME-1 and Calm.
Psyched has an existing inventory of products, and consequently the Board and management have determined that online sales will be suspended until such a time that a new contract manufacturer is secured. This will allow Psyched to continue to support its retail sales partners and monthly subscribers for the next 8-12 weeks from current inventories.
Jeffrey Stevens, CEO of the Company says, "We know that our many customers need a reliable supply of high-quality AME-1 based products. We are focused on diligently securing additional co-manufacturers to resume production of AME -1 and Calm as soon as is reasonably possible."
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 mushroom-derived products and associated consumer packaged goods. The Company's objective is to create premium mushroom-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/219067
FAQ
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