Psyched Wellness Provides Update on Antioxidant and Anti-Inflammatory Study of Muscimol

Toronto, Ontario, February 4, 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 share an update on the previously announced study to determine the therapeutic values of muscimol for antioxidant and anti-inflammatory purposes via a nerve derived immunity and neuroprotective modulation models.

The study, led by Brian Tancowny, a scientific advisor to the company, is focused on determining the effectiveness of the Company’s AME-1 extract and the active compound muscimol from the Amanita Muscaria mushroom for potential dual antioxidant and anti-inflammatory properties. An initial set of preclinical tests examining potential allergenicity have been completed and results demonstrate that AME-1 does not have any allergenic properties in an invitro cell-based mast cell model. These initial findings support that AME-1 is not allergenic and as such will not show signs of hypersensitivity when used in a supplement form. Subsequent studies are being conducted to further support these findings and antioxidant and anti-inflammatory studies are also underway.

“These early results are very encouraging from a scientific and health standpoint to demonstrate that AME-1 has no underlying danger and triggering a protective response.” says Brian Tancowny, a scientific advisor to the Company.

Jeff Stevens, CEO of Psyched Wellness said, “The research from these studies supports what we already believe—that this special compound will have therapeutic benefits. It is our job to continue to work hard to uncover AME-1’s potential, and our research and development team will continue to examine all potential ways that Amanita Muscaria can have positive impacts on health and wellness.”