Psyched Wellness Announces Supply Chain Disruption in the US

Toronto, Ontario--(August 6, 2024) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) ("Psyched"), a life sciences company focused on the production and distribution of health and wellness products, announces that on July 27th, 2024, it was notified of a supply chain disruption at its sole manufacturing facility in the United States. The facility is operated by a third-party contractor and is used by Psyched to produce its proprietary extracts AME-1 and Calm.

Psyched has an existing inventory of products, and consequently the Board and management have determined that online sales will be suspended until such a time that a new contract manufacturer is secured. This will allow Psyched to continue to support its retail sales partners and monthly subscribers for the next 8-12 weeks from current inventories.

Jeffrey Stevens, CEO of the Company says, "We know that our many customers need a reliable supply of high-quality AME-1 based products. We are focused on diligently securing additional co-manufacturers to resume production of AME -1 and Calm as soon as is reasonably possible."