Psyched Wellness Announces Vantage Hemp Co. as Contract Manufacturing Organization Partner to Bring AME-1-derived Products to Market

Canadian brand leading the emerging functional food category partners with industry-leading extraction and manufacturing partner based in Greeley, Colorado

Toronto, OntarioJanuary 18, 2022Psyched 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 Vantage Hemp Co. as the Company’s contract manufacturing organization (“CMO“) partner, facilitating the path to market for Psyched’s AME-1-derived consumer products.

The agreement includes extraction, commercial production and bottling of the products, with the Companies working together to finalize the good manufacturing practices (“GMP“) compliance process and final product formulation through Vantage’s established production capabilities. Psyched has shipped samples of raw material and the desired extract to Vantage’s facilities which will follow the Company’s unique protocols (as outlined in provisional patents submitted last year) to have the first commercial production of AME-1 units ready for sale during the second quarter of 2022. In addition, The Companies plan to develop future products and delivery systems with AME-1 as the base and core ingredient.

“Psyched Wellness is very pleased to partner with Vantage, an established extract manufacturer that meets our high standards of pharmaceutical quality and shares our vision for the future,” said David Shisel, Chief Operating Officer of Psyched Wellness. “Together, we plan to produce and supply the highest quality products to global markets, starting with the United States before scaling distribution internationally. The AME-1-derived supplements that Psyched has been developing for the past two years are natural remedies that will improve the quality of life for many. For the first time in modern history, Psyched Wellness will present a product derived from the Amanita Muscaria mushroom that is safe for human consumption using our proprietary extract, AME-1. Psyched and Vantage both believe in the success of AME-1 as an ingredient and are ensuring that we have the infrastructure and capabilities to scale production to high volumes without sacrificing quality.”

Vantage’s manufacturing facilities and processes are ICH Q7 and WHO GMP-compliant and are managed by an expert team that specializes in medical, pharmaceutical, manufacturing and business operations, creating the highest quality products with precision and scale. In addition, Vantage’s cleanroom for the production of finished products ensures the final products are manufactured in controlled environments that mitigate contamination.

Harvinder Johal, CRO of Vantage, added, “Our partnership with Psyched Wellness ensures that this valuable therapy will be brought to market at an accelerated rate by leveraging Vantage’s science-based and data-driven ethos. We are eager to allow consumers access to this product for the improvement of their health and wellness. Applying our extraction standards to mushroom biomass ensures that the final product meets the same stringent quality standards that we apply to hemp extraction.”