Psyched wellness submits a
PROVISIONAL PATENT application for ame-1
Toronto,
Ontario, March 17,
2021 - InvestorsHub NewsWire - Psyched Wellness Ltd.
(CSE:PSYC, OTCQB:PSYCF, FRANKFURT: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 submitted a provisional patent
application
with
the United States
Patent and Trademark office, to cover the Company's unique extraction
processes for its proprietary Amanita
muscaria extract AME-1.
The application was
submitted on March 12, 2021 as App. No.
63/160,721,
and discloses and claims muscimol extraction from Amanita
mushrooms, and more particularly, enhanced muscimol extraction processes
from Amanita muscaria, including by
distillation and refluxing and/or pressing, resulting in a liquid
or powder extract useful for preparations for human
health.
"We have invested a
lot of resources to develop AME-1 using a unique extraction
protocol that we have developed," said David Shisel COO of
Psyched Wellness. "We believe that AME-1 has great potential and
will be the
foundation for many future
products."
Jeff Stevens, CEO
of Psyched Wellness said, "Filing this provisional patent
is key milestone for PSYC and our shareholders. We recognize the
patent frenzy that is taking place in the sector and although we
are the only company (we are aware of) studying Amanita Muscaria
and,
specifically,
Muscimol, it is critical
to protect our work
and our shareholders from others infringing on our intellectual
property. I
see this as the first of many provisional patents to
come."
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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