Psyched Wellness Initiates the Next Pre-Clinical Trial Study on AME-1

Toronto, Ontario, April 27, 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 Clinical Research Organization partner, KGK Science, has commenced the next preclinical trial study with AME-1.

This new study is a 14-day oral toxicity study of AME-1. It will provide the level of dose(s) that will be selected and administered for a subsequent long term 90-day oral toxicity study. The importance of this study is to determine dose-dependent effects along with determining the highest dose that is safe to use for a longer-term study. This is another key milestone in the further understanding of the effects of Psyched Wellness’ AME-1 extract under a scientific methodology in pursuit of a safe dose for human consumption.

“This represents another milestone event in the scientific study of AME-1. The results of this study will further increase the knowledge and further identify the physical and chemical properties of AME-1” Says Brian Tancowny, scientific advisor for Psyched Wellness.

"The pre-clinical trial we are currently conducting is part of a number of smaller studies that need to happen in a specific order and, when completed, will combine to provide the foundation off of which our future products will be developed,” says Jeff Stevens, CEO of the Company. “As we embark on a new study or complete a study, we add significant value to the Company as we are pioneering a path to market for AME-1 derived health and wellness products.”