Toronto, Ontario-- March 2, 2021 -- InvestorsHub NewsWire
-- Psyched Wellness Ltd. (CSE:
PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the
"Company" or "Psyched"), a life
sciences company focused on the production and distribution of
artisanal functional and psychedelic mushrooms, is pleased to
announce the company has received the results from its Maximum
Tolerated Dosage (MTD) study conducted by KGK Science, a licensed
CRO in Canada.
"I am pleased to share the positive results from the individual
studies that our CRO is conducting in the pre-clinical study on our
behalf for AME-1," added Jeff Stevens, CEO of Psyched Wellness.
"Today's results pushes us one step closer to our goal of applying
to the FDA for a New Dietary Ingredient and to Health Canada for a
Natural Health Product Number."
This study is the first set of thorough toxicology assessments
on the Company's Amanita Muscaria extract, AME-1. The MTD study
summarizes the maximum tolerated dose and LD50 thresholds for
AME-1. This significant set of information obtained permits for the
next step of pre-clinical studies involving a 14- and 90-day oral
toxicity to further identify a safe, effective dose for human
consumption.
"This is a key first step in the toxicological assessment of
AME-1 that is the foundation for the next set of preclinical
studies further identifying the properties of AME-1," says Brian
Tancowny, scientific advisor to the Company. "For centuries Amanita
Muscaria has been embraced by cultures due to its restorative and
rejuvenating qualities and with these results, Psyched Wellness is
well on its way to delivering a clinically tested and medically
approved product that will effectively treat, repair and nurture
the mind, body and soul."
For further information, please contact:
Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
Tel: 647-400-8494
Email: jstevens@psyched-wellness.com
Website: http://www.psyched-wellness.com
For media relations, please contact:
Anne Graf
KCSA Strategic Communications
agraf@kcsa.com
786-390-2644
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
and Statements
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
Psyched Wellness Ltd. current belief or assumptions as to the
outcome and timing of such future events. Forward-looking
information is based on reasonable assumptions that have been made
by Psyched at the date of the information and is subject to known
and unknown risks, uncertainties, and other factors that may cause
actual results or events to differ materially from those
anticipated in the forward-looking information, including, without
limitation, (i) the accuracy of the Toxicology Assessment, (ii) the
safety of Amanita Muscaria consumption and the safety and
purity of any extracts thereof, and (iii) the uses and potential
benefits of Amanita Muscaria. Given these risks, uncertainties,
and assumptions, you should not unduly rely on these
forward-looking statements. The forward-looking information
contained in this press release is made as of the date hereof, and
Psyched is not obligated to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws. The
foregoing statements expressly qualify any forward-looking
information contained herein. Factors that could cause actual
results to differ materially from those anticipated in these
forward-looking statements are described under the caption "Risk
Factors" in Psyched Wellness Ltd. management's discussion and
analysis for the six months ended May 31, 2020 and covering the
subsequent period up to July 27, 2020 ("MD&A"), dated July 27,
2020, which is available on Psyched Wellness Ltd. profile
at www.sedar.com.
This news release does not constitute an offer to sell or
the solicitation of an offer to buy, and shall not constitute an
offer, solicitation or sale in any state, province, territory or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state, province, territory or
jurisdiction.
This news release includes data that has been obtained from
third party sources, including the findings from the Toxicology
Assessment. The Company believes that the data is accurate and that
its estimates and assumptions are reasonable, but there is no
assurance as to the accuracy or completeness of this data. Third
party sources generally state that the information contained
therein has been obtained from sources believed to be reliable, but
there is no assurance as to the accuracy or completeness of
included information. Although the data is believed to be reliable,
the Company has not independently verified any of the data from
third party sources referred to in this news release or ascertained
the underlying assumptions relied upon by such sources.
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