Psyched Wellness Ltd

Canadian Securities Exchange:PSYCCanadaView on OTCQB

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• Psyched Wellness and Gotham Green Partners to Close Final Tranche of US$2.5M for a Total of US$7.5M Raised and Partner with Strategic Advisors to Build Consumer Packaged Goods Derived from AME-1, from 22 hours ago by Newsfile

  22 hours ago by Newsfile
  Companies Mentioned: PSYCF

  Toronto, Ontario--(Newsfile Corp. - April 19, 2024) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched Wellness"), a life sciences company focused on the production and distribution of health and wellness products derived from the Amanita Muscaria mushroom, is pleased to announce that it has entered into a master services agreement (the "Master Services Agreement") with Zerkalo, LLC, a New York partnership ("Zerkalo"), pursuant to which the Company has engaged Zerkalo to develop product development, marketing, distribution and supply chain set up for a product derived from AME-1 (the "Product"), in accordance with the terms and conditions of the Master Services Agreement and accompanying statement of work (the "SOW" and together with the Master Services Agreement, the "Transaction Documents") for a period of the greater of: (x) thirty months and (y) the time required to complete any services still outstanding pursuant to the Transaction Documents at the end of the thirty month period.

• Psyched Wellness and Gotham Green Partners to Close Final Tranche of US$2.5M for a Total of US$7.5M Raised and Partner with Strategic Advisors to Build Consumer Packaged Goods Derived from AME-1, from 22 hours ago by Dow Jones

  22 hours ago by Dow Jones
  Companies Mentioned: PSYC, PSYCF
  
  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 objectives, distribution, and development of the Company's business and products and future activities following the date hereof, including the distribution of mushroom-derived products and associated consumer packaged goods; the Company's objective to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category; the development of the Company's Amanita muscaria-derived water-based extracts products and the uses and potential benefits of Amanita Muscaria; the anticipated use of the proceeds from the Offering; Gotham exercising its rights under the Amended and Restated Investor Rights Agreement; the anticipated size, timing of the closing(s), number of placees, and tranches of the Offering; the anticipated completion of the entire Offering under the stated terms, including the satisfaction and/or waiver of the Tranche 2B Closing Conditions; the Company maintaining a first-mover advantage in bringing legal and safe products derived from the Amanita Muscaria mushroom to consumers in the United States; Zerkalo completing its services and hitting their milestones under the terms of the Transaction Documents; the Company building out a CPG brand; the impact of the partnership on the Company, its business and its shareholders; the Company bringing Amanita products to the mass market; the Company's allocation of cash towards Zerkalo; and the Company issuing the Advisor Warrants on the terms set out herein.