Springfield, Oregon–(Newsfile Corp. – March 28, 2023) – Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A), announces that the Company has entered into a definitive Stock Purchase Agreement dated March 27 2023 (the “Agreement”) with a non-arm’s length entity owned by Silo board member Michael Hartman (“Buyer”) for the sale of Silo’s wholly-owned subsidiary SW Holdings, Inc. (“SWHI”) for a USD $150,000 purchase price paid out of any net proceeds from licensing or other revenue after any current lienholders are satisfied.

The purchase price is financed at 6% interest per year. This debt is secured by the shares and the assets of SWHI in second position behind former branding partner Marley Green, LLC’s secured creditor position. For additional consideration, SWHI shall pay to Silo Wellness into perpetuity (following the clearing of all currently existing secured debt) a 50% royalty payment of any licensing fees or other revenue produced by SWHI or 50% of any assets sold. At any time within 60 days of the closing of the transaction, Buyer can opt to pay USD $50,000 cash (or $75,000 for the following 180 days) to satisfy the purchase price and reduce the revenue/royalty payment from 50% to 25%. The Company also agreed to pay $10,000 cash to Buyer at closing to contribute to attorney fees and closing costs.

The board (with director Michael Hartman abstaining as the owner of Buyer) with the advice of its auditors has determined that disposing of this liability-laden asset is in the best interests of the Company. None of the assets in SWHI are currently revenue generating and there is over CAD $4.4M of debt on SWHI’s books pursuant to the terminated brand licensing agreement previously filed on SEDAR. Assets of SWHI include a patent application (“Metered dosing compositions and methods of use of psychedelic compounds“) which still requires time and extensive capital in order to potentially create value. The Company has been focusing its efforts on its Jamaica psychedelic retreat revenue plan as well as developing the Oregon psilocybin opportunity and has determined it does not have resources or interest in developing this asset, especially since there is so much debt to be cleared before any capital investment has the potential for a return.

“It is a pointless endeavor for us to advance this asset given the Marley debt that is marooned in this subsidiary,” stated Silo founder and CEO Mike Arnold, an Oregon lawyer. “We attempted to negotiate terms as previously disclosed to no avail. Mr. Hartman as the lead inventor of the patent-pending intellectual property is in the best position to attempt to extract value out of this debt-soaked asset. If he manages to do so, we would be entitled to royalties after any secured debt is cleared. We are very excited for this creative resolution and to finally be done with the Marley transaction and its debt.”

In addition to the IP portfolio, SWHI also owns a now closed functional mushroom e-store, which generated minimal revenue the last year it was operational. The other remaining asset is the Silo Wellness trademark covering dietary supplements and pharmaceutical preparations and medicines, which do not cover psilocybin or retreats, or anything related to existing or anticipated operations.

Debt Restructuring and Oregon Psilocybin Therapy

The Company has been focused on advancing its Oregon psilcoybin therapy center agenda and on restructuring debt. At the time of the SWHI sale, there were no material assets on the balance sheet and there were secured liabilities at CAD$4.4M. This transaction clears that debt from the parent company’s consolidated balance sheet. The Company also recently announced other debt restructuring activities this year resulting in over $1,000,000 of debt converted to equity as well a letter of intent to restructure over $1,000,000 of additional debt with its largest creditor. “The Silo team is very relieved to have successfully removed or have pending to remove over $6,400,000 of debt since February,” Arnold stated. “We endeavor to continue working on clearing debt and advancing our strategy in Oregon.”

Contact:

Mike Arnold, CEO
541-900-5871
IR at silo wellness dot com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. SEE PRIOR PRESS RELEASES FOR CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

FT. LAUDERDALE, FL / ACCESSWIRE / January 25, 2023 / Kaya Holdings, Inc., (“KAYS” or the “Company”) (OTCQB:KAYS), a pioneer in the U.S. cannabis industry, announced today that it has launched Fifth Dimension Therapeutics (“FDT”), which will seek to provide psychedelic “mind care” treatments to veterans suffering from PTSD, addicts seeking to break addiction, individuals with eating disorders, and others with a wide array of treatment resistant mental health disorders.

More

The Company is pleased to announce that one of its senior employees, Bryan Arnold, has been enrolled in one of the first training courses to qualify for an Oregon Psilocybin Facilitator License, permitting him to oversee the cultivation of psilocybin mushrooms and related products as well as operate up to five (5) state licensed facilitation clinics where psilocybin treatments will be administered. Bryan is expected to complete his training and apply for licensure in April.

Additionally, the Company is proud to welcome attorney Glenn E.J. Murphy to the FDT Board of Director. Glenn will assist FDT with introductions to pharmaceutic companies seeking data and access to psychedelic patients, as well as advising on the development of intellectual property, structure of potential joint ventures, funding opportunities, acquisitions, and other related endeavors.

“The operation of a psychedelics treatment enterprise has many parallels to the cannabis industry, and we feel that KAYS is among the companies uniquely qualified to deliver the highest quality of care to the patients wishing to avail themselves of these promising new treatments”, stated W. David Jones, a KAYS Senior Advisor and driving force behind the Company’s entry into the psychedelics arena. “We believe we can help provide meaningful benefits to the millions suffering from treatment resistant mental health conditions while significantly enhancing shareholder value.”

“We have effectively shifted our cannabis operations toward the European market where we believe a substantial market exists without the same regulatory burdens of the fragmented and nationally stymied U.S market”, adds KAYS’ CEO Craig Frank. “By bringing all we have learned from our cannabis operations to the psychedelics market, I believe we have an excellent opportunity to secure a leadership role in the ‘mind care’ market”.

The Market

Mental health disorders account for several of the top causes of disability in the United States. A 2021 Harvard University study forecasted the annual medical cost of mental health conditions to reach $6 trillion by 2030.

It is estimated by the National Institute of Mental Health Disorders that 26% of Americans over 18 years of age suffer from a diagnosable form of depression (major or clinical depression, manic or bipolar depression), and an additional 40 million American adults suffer from an anxiety disorder (panic disorder, obsessive-compulsive disorder (OCD), post-traumatic stress disorder (PTSD), generalized anxiety disorder (GAD), and social phobia, agoraphobia, and specific phobias). Depressive illnesses tend to co-occur with substance abuse and anxiety disorders

In 2021, Data Bridge Market Research estimated the current U.S. psychedelics market value to be $2.8 billion, with a forecasted 2029 market expected to reach $8.9 billion.

The Science

The growing evidence suggests that psychedelics act on the brain’s default network, or those regions of the brain that remain active when your brain is not engaged in active tasks. Psilocybin increases activity in certain neurons that respond to the neurotransmitter serotonin, which has wide- ranging functions in the human brain (many of which are being researched). Ketamine is most active in the glutamate system.

The default network provides a “framework” for the brain’s activity, providing structure and making order of all that is happening in the cortex and keeping external neurological information (delivered via our senses) distinct from internally generated activity thoughts, emotions, and memory).

Psychedelics seem to suppress the default network, relaxing the separation of our senses, memories, thoughts, and emotions, and enabling each to influence each other more easily. This ability to break down of the brain’s “framework” has led to a focus on psychedelics as a groundbreaking opportunity to address a wide range of mental health disorders.

Glenn Murphy’s Biography

Glenn has twenty-five years of private and corporate practice, including ten years in-house with the Henkel Group and more than fifteen years in private practice, Glenn’s experience has touched on most every aspect of intellectual property practice.

Glenn’s current practice primarily focuses on building and managing domestic and international utility and design patent portfolios and opining on the validity and infringement of U.S. patents. In addition to drafting and prosecuting patent applications filed in the U.S. and foreign patent offices, Glenn has briefed and argued before the U.S. Patent Office Board of Appeals, assisted with the preparation and argument of appeals before the U.S. Court of Appeals for the Federal Circuit, and assisted with the conduct of bench and jury trials in the U.S. District Courts and the U.S. International Trade Commission. He has provided due diligence and advice in acquisitions, divestments, licenses, and other transactions involving intellectual property rights. He has particular experience in building and managing domestic utility and design patent portfolios for non-U.S. clients.

After receiving his B.S. in chemical engineering in 1984 from the Pennsylvania State University, Mr. Murphy worked as an engineer for the Cochrane Division of Crane Company, designing and delivering large-scale water treatment systems for industry. In 1990 he received his J.D. with honors from the University of Pittsburgh School of Law, where he served as an editor of the school’s Journal of Law and Commerce and received the Faculty Award for Excellence in Legal Scholarship.

Mr. Murphy is a member of Ratner Prestia’s Biotechnology, General Chemistry and Polymers and Pharmaceutical Chemistry Groups. To review Mr. Murphy’s biography, please go to https://www.ratnerprestia.com/professionals/glenn-e-j-murphy/

KAYS SHAREHOLDERS AND OTHER INTERESTED PARTIES – PLEASE UPDATE YOUR CONTACT INFORMATION

We routinely receive calls and emails from shareholders asking us questions about KAYS, so we are asking all KAYS shareholders to email us and confirm their contact info. Please email [email protected] with “KAYS shareholder update” in the subject line and include your name, address, phone number and number of shares you own so that we may make sure you receive all updates and can respond to any shareholder inquiries.

About Kaya Holdings, Inc. (www.kayaholdings.com)

Kaya Holdings, Inc. (OTCQB:KAYS) is a Mind Care Company with longstanding operations as a touch-the-plant, vertically integrated legal cannabis business operating a number of majority-owned subsidiaries to retail, cultivate, produce and distribute premium medical and recreational cannabis products. The Company is evolving into a full mind care enterprise with the planned introduction psilocybin at-home and in-facility treatments, as permitted by law. KAYS is a fully reporting, US-based publicly traded company, listed for trading on the OTCQB Tier of the over-the-counter market under the symbol KAYS.

Summary of Operations

KAYS corporate structure includes the following four majority-owned subsidiaries, each responding to various demands and opportunities in the cannabis or psychedelic industry:

Fifth Dimension Therapeutics, Inc., serves as the Company’s operating branch to the psychedelic treatment sector, including operation of mushroom cultivation facilities, in-facility treatment centers, and at-home treatment programs.

Marijuana Holdings Americas, Inc. owns the Kaya Shack brand of licensed medical and recreational marijuana stores (www.kayashack.com) and the Kaya Farms brand of cannabis production and processing operations that operate in the United States.

Kaya Brands International, Inc., serves as the vehicle for the Company’s non-U.S. operations including cultivation activities in Greece and Israel.

Kaya Brands USA, Inc. owns a wide range of proprietary brands of cannabis extracts, oils, pre-rolls, topicals, edibles and beverages, cannaceuticals and related accessories.

Important Disclosure

KAYS is planning execution of its stated business objectives in accordance with current understanding of state and local laws and federal enforcement policies and priorities as it relates to cannabis and psychedelics. Potential investors and shareholders are cautioned that KAYS and subsidiaries including FTD will obtain advice of counsel prior to actualizing any portion of their business plan (including but not limited to license applications for the cultivation, distribution or sale of marijuana and psychedelic products, engaging in said activities or acquiring existing production/sales operations). Advice of counsel with regard to specific activities of KAYS, federal, state or local legal action or changes in federal government policy and/or state and local laws may adversely affect business operations and shareholder value.

Forward-Looking Statements

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For more information contact Investor Relations: [email protected] or 561-400-1971.

SOURCE: Kaya Holdings, Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Psilocybin therapy is being investigated by Zollaris for the treatment of mental health and other unmet medical needs

HAWKESBURY PROVIDENCE, Ontario, Feb. 16, 2022 /PRNewswire-PRWeb/ — Zollaris Laboratories Corporation. (hereafter, “Zollaris”) receives authorization from the Health Canada, Office of Controlled Substances for analytical investigation of several psilocybin powders currently permitted under license and available in Canada. The Health Canada license permits Zollaris to proceed to screen suitable candidates and drug preparations to be used in clinical trials to be initiated in 2022. Health Canada has recognized the importance of Zollaris’ analytical research infrastructure, drug development and manufacturing programs aimed at producing a molecular standardization of psilocybin form factors.

Psilocybin therapy is an approach being investigated for the treatment of mental health challenges where current drug therapies have known and unwanted adverse effects and present high potential to addiction. Psilocybin is a psychoactive ingredient found in some species of mushrooms, often referred to as “magic mushrooms” and which have been the focus of renewed interest for medical use in mental health where current therapeutics are not ideal. With this license, Zollaris can enter the pharmaceutical drug development arena to develop future therapeutics.

Under the title of “Drug Development Pathways to Bring Psilocybin (and Psilocin) to the Pharmaceutical Market”, Zollaris Labs will complete the necessary steps in order to produce the first standard of Psilocybin to be sold under USP certification.

Zollaris investigational program is a pivotal passage to get pharmaceutical grade Psilocybin powders with a Made in Canada stamp, in our fully licensed GMP Facility.

ABOUT ZOLLARIS

Zollaris Corporation is a 30,000 state-of-the-art facility located in Hawkesbury, ON. The facility was commissioned in 2019 and founded by experience pharmaceuticals leaders. Zollaris has several categories of licenses which enable it to contract manufacture, perform technical analysis of natural products (“NPNs”), cannabinoids and psychedelic’s for customers and its own brands to be sold in the appropriate medical and recreational channels.

Forward-looking statements

Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company’s inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company’s research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of future clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company’s public disclosure record on file with the relevant regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation.

Media Contact

Pascal Houde, Zollaris laboratories Corporation, 1 4168554545, [email protected]

SOURCE Zollaris laboratories Corporation

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.