Toronto, Ontario, November 25, 2020 – Psyched Wellness Ltd. (formerly Duncan Park Holdings Corporation) (CSE:PSYC, OTC Pink: DCNPF) (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 Kevin Feeney has joined the advisory board of the Company to work with the team on identifying novel uses for Muscimol, the psychoactive constituent of Amanita Muscaria.
“When Jeff and David contacted me about Psyched Wellness and their interest in the therapeutic potential of the famed Amanita muscaria mushroom, I was enthused,” says Kevin Feeney. “Amanita Muscaria has a long history of use for treating a number of ailments including anxiety, insomnia, pain, and inflammation. While this mushroom has been largely overlooked in both standard and alternative medicines, its potential applications are rich and largely unexplored, and shows promise in such disparate areas as treating alcohol and benzodiazepine withdrawal as well as alleviating cognitive impairments related to Lyme disease and Alzheimer’s. I look forward to working with Jeff, David, and the rest of the Psyched Wellness team to explore this underappreciated medicine and help bring a quality product to market.”
Kevin Feeney, PhD, JD, is a cultural anthropologist and lawyer currently working as a Program Director and Instructor in Interdisciplinary Studies – Social Sciences at Central Washington University. His primary research interests include examining legal and regulatory issues surrounding the religious and cultural use of psychoactive substances, with an emphasis on peyote and ayahuasca, and exploring modern and traditional uses of Amanita muscaria, with a specific focus on medicinal use and preparation practices. He has recently published an edited volume on Amanita muscaria (Fly Agaric: A Compendium of History, Pharmacology, Mythology, and Exploration) and has also been published in the International Journal of Drug Policy, Journal of Psychoactive Drugs, Human Organization, and Curare, among other books and journals (Research articles and other writings can be found at: https://www.researchgate.net/profile/Kevin_Feeney). He is a current board member of Cactus Conservation Institute, which is dedicated to the study and preservation of vulnerable cacti and is also a member of Chacruna’s Council for the Protection of Sacred Plants.
“Adding Kevin to our team is a key development in the growth of the company as we look to expand our understanding of the medicinal potential of Amanita Muscaria,” says Jeff Stevens, CEO of the Company. “His experience studying psychoactive substances and specifically Amanita Muscaria is key to identifying new novel uses of the compound for various health and wellness applications.”
The Company has also issued 750,000 options at a strike price of $0.185 to certain advisors and consultants.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
About Psyched Wellness Ltd.:
Psyched Wellness Ltd. is a Canadian-based health supplements company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The Company’s objective is to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category. The Company is in the process of developing a line of Amanita muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping.
Cautionary Statement Regarding Forward Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the ability of the Company to develop Amanita Muscaria-derived products; the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and (ii) the uses and potential benefits of Amanita Muscaria.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the Company’s ability to continue to develop its mushroom-derived products and associated consumer packaged goods; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company’s operations; competition within the psychedelics market; risks with respect to the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and the risk that there is no potential benefit of Amanita Muscaria consumption.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
For further information, please contact:
Chief Executive Officer
Psyched Wellness Ltd.
t: (647) 400-8494
Tim Regan/Sophia Bashford
KCSA Strategic Communications
t: (978) 505-2478