Psyched Wellness Announces Changes to the Board of Directors
Toronto, Ontario, March 15, 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 Janeen Stodulski has been appointed as a director of the Corporation.
Psyched also announced that Chris Hazelton has resigned as a director of the Corporation. CEO Jeff Stevens commented that, “Chris stayed on as one of the legacy directors from Duncan Park Holdings to ensure a smooth transition as Psyched went public. We appreciate his time and effort and wish him well with his future endeavors.”
A graduate of Brock University, Janeen received her CPA designation in 1999 and her MBA from Queen's University in 2002 and most recently completed her In-Depth taxation with CPA Canada.
Janeen brings more than 30 years of diverse tax, financial, and business consulting experience to the table. She has gained extensive accounting experience through her senior roles in public practice, as a partner at MNP and Client Service Manager at Grant Thornton LLP as well as several board positions and C-suite roles in a variety of companies. Janeen's extensive expertise allows her to provide outside the box strategies and solutions in addition to comprehensive accounting services.
Ms. Stodulski has received numerous awards and appointments during her career, including an appointment to the Prime Minister's Task Force on Women Entrepreneurs, Ontario and Chapter Distinguished Service awards with CGA, Royal Bank Women Entrepreneurs finalist and Oakville Community Environmental Award.
"I am thrilled to welcome Janeen to the board and know that her experience and passion for this role will add tremendous value to the team and Psyched shareholders,” says Jeff Stevens CEO of the Company.
In connections with Ms. Stodulski joining the board she will be issued 500,000 options subject to board and exchange approvals. In addition to Ms. Stodulski option issuance, 1.5M options will be allocated to various consultants for their efforts.
The Company also wishes to disclose that it has engaged the services of the following groups:
Stockhouse Publishing for a 12-month contract totaling $100K.
Proactive Media PRO for a 12-month contract totaling $49K.
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.