Psyched Wellness Receives Positive Results From Its 14 Day Oral Toxicity Preclinical Study

Toronto, Ontario, July 6, 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 mushrooms, is pleased to announce the company has received the results from the 14-day oral toxicity preclinical study conducted by KGK Science, a licensed CRO in Canada. The significant information obtained from the test results showed no treatment-related adverse effects on treated animals during the study period in several key measures, allowing the next preclinical 90-day oral toxicity study to further identify a safe, effective dose for human consumption.

“This is a major milestone for Psyched Wellness in the development of its Amanita muscaria-derived products which will help with promoting stress relief, relaxation, and assisting with restful sleeping,” said Brian Tancowny, Scientific Advisor, Psyched. “The 14-day and 90-day toxicological assessments of AME-1 will importantly form the foundation for all of our future preclinical studies,” Mr. Tancowny said.

This study consisted of thorough toxicology assessments on Psyched Wellness proprietary extract of Amanita Muscaria, AME-1. The 14-day oral toxicity preclinical study summarized the NOAEL (No Observed Adverse Event Level) of Amanita muscaria extract, when administered once daily for 14 consecutive days.

The Company is pleased to announce that there were no adverse clinical signs of toxicity and neither mortality nor morbidity observed in both genders for vehicle and test item-treated animals during the study period. There were no treatment-related adverse effects observed in all the treatment groups of both genders in comparison with the vehicle control groups during the study over several indicators including: body weight and normal body weight gain, feed consumption, hematology parameters, coagulation, clinical chemistry, gross necropsy, and organ weights. All parameters studied were found to be normal during the duration of the study period, and no observed adverse event level occurred.

Jeff Stevens, CEO of Psyched, said: “Our scientific team is doing a great job executing on the individual studies that make up our pre-clinical trials. I am pleased to share the positive results of our 14-day toxicity study and look forward to communicating the results from our previously announced 90-day toxicity study when available”.