Psyched Wellness Provides Comprehensive Investor Update

Toronto, Ontario–(Newsfile Corp. – March 14, 2025) – 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, is pleased to provide a corporate update to its shareholders.

Recent Developments

In August 2020, KGK Science (“KGK“), a licensed CRO in Canada, completed a GAP analysis and Path to Market for Psyched’s flagship product as a health supplement. Throughout the fall of 2024 and into 2025, Psyched engaged various industry and regulatory experts to conduct a comprehensive review of all scientific data available in the market since the initial GAP analysis by KGK, as well as the scientific studies completed by the Company. As part of this review, Psyched Wellness is pleased to announce that it will conduct a Genotoxicity Study on its proprietary Amanita Muscaria Extract (AME-1).

“As pioneers bringing Amanita-derived products to market, Psyched Wellness is committed to ensuring that our proprietary extract, AME-1, is the safest extract available to consumers,” said Jeff Stevens, CEO of Psyched. “Our team prides itself on completing the necessary scientific studies to safely bring dietary supplements to market.”

The Company is also pleased to announce the successful completion of a production run for AME-1 and Calm. This production run is expected to provide Psyched with the necessary inventory to fulfill its online and retail orders for Calm and support sufficient supply of extract for the new dietary supplement being developed by Zerkalo LLC (“Zerkalo“), consultants to Psyched. Psyched continues to work towards securing a long-term manufacturing agreement to meet its growing needs and will provide further updates, as necessary, at the relevant time.

Strategic Partnerships

Zerkalo is making significant progress in developing new dietary supplement products using AME-1. The Company looks forward to sharing updates on the products and branding at the appropriate time.

Upcoming Annual General and Special Meeting (AGSM)

The Company has scheduled its next AGSM for May 15, 2025. The meeting materials including notice of meeting and record date, management information circular, form of proxy and voting instruction form (the “Materials“) shall be available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

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.

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 researching and producing consumer packaged goods products derived from our proprietary extract of the Amanita Muscaria mushroom, AME-1.

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 and secure long-term manufacturing contract; the sufficiency of current production run for AME-1 and Calm; the success of Zerkalo in developing new dietary supplement; the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and 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/244513