Psyched Wellness Commences Next Pre-Clinical Study on AME-1

Toronto, Ontario, June 28, 2021 – 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 that the company and its CRO partner, KGK Science, has commenced the next preclinical study, a 90-day oral toxicity study of AME-1.

This new study will examine the effects of Amanita Muscaria on rodents and will involve a repeated dose 90-day oral toxicity study of AME-1. It aims to provide information on the possible anatomical responses which may arise from repeated exposure over a period of time, covering post-weaning maturation and growth into adulthood of the test animals. The study will provide information on the major toxic effects, indicate target organs and the possibility of accumulation of test chemical, and can provide an estimate of a no-observed-adverse-effect level (NOAEL) of exposure which can be used in selecting dose levels for chronic studies and for establishing safety criteria for human exposure.

“Once we have the data from both the 14-day oral toxicity study and 90-day oral toxicity study, we will be able to confidently determine safe dosage levels for AME-1” Says Brian Tancowny, scientific advisor for Psyched Wellness.

"The data from these studies will provide Psyched with the foundational knowledge from which all of our consumer products will be derived. This is a very exciting time for the Company, as we look forward to sharing the data from these studies in the near future and continuing to execute on our near- and long-term business objectives” says Jeff Stevens, CEO of the Company.