Psyched Wellness Announces Commencement of Next Pre-Clinical Study on AME-1

Toronto, Ontario, October 7, 2021 – Psyched Wellness Ltd. (CSE:PSYC, OTCQB:PSYCF, FRA: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 that KGK Science, a licensed contract research organization (CRO) in Canada, is commencing the next pre-clinical trial study on Psyched’s key proprietary extract, Amanita Muscaria (AME-1).

The trial will comprise a conditioned placement preference study (CPP) in order to establish any beneficial and or adverse health effects of AME-1, providing critical evidence to determine whether the extract has any abuse potential. The study will compare the basic characteristics of the association of AME-1 treatment in a particular environment, with the association of a different environment in the absence of AME-1.

The CPP paradigm has been used in many fields such as pharmacology, behavioral science and neuroscience research to determine whether consumption of a certain substance can foster psychological or physical dependence.

David Shisel, Chief Operating Officer of Psyched, said: “In conjunction with the other studies the Company is conducting, this trial will bolster Psyched’s toxicological assessment of AME-1 and provide critical knowledge of any behavioral and neurological functional changes in a scientific setting. This is another key step in determining a safe dose of AME-1 for human consumption and moves Psyched closer to being able to bring our Amanita-based CPG products to market.”