psychedelics – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Tue, 07 Nov 2023 16:11:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 Kaya Holdings (OTCQB:KAYS) Unveils “The Scared Mushroom(TM)”, the First U.S.-Based Psilocybin Center to be Operated by a U.S. Public Company https://mjshareholders.com/kaya-holdings-otcqbkays-unveils-the-scared-mushroomtm-the-first-u-s-based-psilocybin-center-to-be-operated-by-a-u-s-public-company/ Tue, 07 Nov 2023 16:11:03 +0000 https://cannabisfn.com/?p=2974167

Ryan Allway

November 7th, 2023

News, Psychedelics, Top News, Top Story


FT. LAUDERDALE, FL / ACCESSWIRE / November 7, 2023 / Kaya Holdings, Inc., (“KAYS” or the “Company”) (OTCQB:KAYS) has shared the company’s progress to open “The Sacred Mushroom™” Psilocybin Facilitation Center in Portland, Oregon and invites interested parties to view the project presentation.

The Sacred Mushroom™ has approximately 11,000 sq ft. and will provide visitors with access to many distinctive treatment experiences including private treatment rooms and group session areas, activity zones with yoga, listening stations, journaling chairs, and art expression, special “sensation rooms”, and a special approach to microdosing.

To read and download the report click the following link:

https://www.dropbox.com/scl/fi/0g2s330k3nbycagpt78bd/The-Sacred-Mushroom-2023-10-31.pdf?rlkey=499ov1u678mc1iqgc2zcc8v95&dl=0

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 info@kayaholdings.com 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. If you would like to speak to someone at the Company, please call ore text 954-480-3960 and someone will get right back to you.

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

Kaya Holdings, Inc is a “mind care” company with operations in medical/recreational cannabis and pending operations in the emerging psilocybin sector. KAYS is a fully reporting, US-based publicly traded company, listed for trading on the over-the-counter market under the symbol KAYS.

In 2014 KAYS became the first US public company to own and operate a medical cannabis dispensary (in Portland, Oregon). The Company still operates the original Kaya Shack™ cannabis dispensary while seeking to shift our cannabis operations to serve the European Union. KAYS has interests in three medical cannabis licenses (2 in Greece, 1 in Israel) to advance this effort.

Resuming its role as innovator and trend setter, the Company is again breaking ground in the United States with the planned introduction of psilocybin treatment centers through our majority owned subsidiary, Fifth Dimension Therapeutics, Inc. (“FDT”).

KAYS subsidiaries include:

Fifth Dimension Therapeutics, Inc. serves as the Company’s operating branch in the psychedelic treatment sector, including operation of mushroom cultivation facilities and The Scared Mushroom™ treatment centers.

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 in the United States.

Kaya Brands International, Inc., serves as the vehicle for the Company’s non-U.S. operations including cultivation activities under development 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 psychedelics and cannabis. Potential investors and shareholders are cautioned that KAYS and subsidiaries including FDT 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. Additionally, the launch of The Sacred Mushroom™ Psilocybin Treatment Center is dependent, among other matters, on final Oregon Health Authority (“OHA”) licensing and receipt of final financing from our investors.

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.

SOURCE: Kaya Holdings

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.


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Kaya Holdings (OTCQB:KAYS) Closes Additional Round of Non-Dilutive Bridge Financing Targeted to Complete The Sacred Mushroom™ Psilocybin Treatment Center https://mjshareholders.com/kaya-holdings-otcqbkays-closes-additional-round-of-non-dilutive-bridge-financing-targeted-to-complete-the-sacred-mushroom-psilocybin-treatment-center/ Wed, 18 Oct 2023 16:14:21 +0000 https://cannabisfn.com/?p=2974124

Ryan Allway

October 18th, 2023

News, Psychedelics, Top News, Top Story


KAYS’ Oregon Based Psilocybin Treatment Center is on track to be the first of its kind operated by a U.S. Public Company

FT. LAUDERDALE, FL / ACCESSWIRE / October 18, 2023 / Kaya Holdings, Inc., (“KAYS” or the “Company”) (OTCQB:KAYS) announced today that it has closed an additional round of bridge financing targeted to complete KAYS’ planned psilocybin treatment center in Portland, Oregon. The facility will operate under the name “The Sacred Mushroom™.

Total funds received from our bridge financing since the first installment was received in June 2023, are $600,000, with no commissions or fees associated with the financing. The funds are not convertible into KAYS stock. $100K of the funds are in the form of short-term financing with repayment due March 15, 2023, and $500K is due to be repaid from 10% of KAYS’ revenues quarterly, with any unpaid balance due June 30, 2025.

View from The Sacred Mushroom™ – Mount Hood can be seen above the Portland, Oregon skyline from our 7th-floor facility.

We believe that KAYS is presently the only U.S. public company engaged in securing an Oregon Health Authority (“OHA”) license to open a psilocybin treatment center, aiming to create a setting that is unmatched by any other facility and providing access to relief from treatment-resistant mental health conditions, including depression, anxiety, additions, and eating disorders.

Approximately every 40 seconds someone in the world commits suicide.Psilocybin may soon be available as a mainstream medical treatment for treatment-resistant depression (TRD) and other mental health diseases, potentially providing a new lease on lifefor millions worldwide for whom current medications do not work.

Our Treatment Model
A recently published report on psilocybin treatment prices in Oregon showed that Initial prices for one facility range from $300 for a group microdose session to $3,500 for an individual high-dose session, with another facility pricing first-time full-dose treatments at $15,000 (these prices do not include the cost of the psilocybin, which can run from $300 to $500).

KAYS expects its planned model facility to offer a superior setting, broader activity and treatment options, integrated cultivation and processing, and accessible pricing, thereby enabling us to deliver a superior treatment experience at a much lower price than the competition, while still achieving profitability.

The Sacred Mushroom™ has approximately 11,000 sq ft. and will provide visitors with access to our microdosing café, private treatment rooms and group session areas, and activity zones with yoga, listening stations, journaling chairs, and art expression for distinctive, effective, and positive psilocybin treatments.

Timeline
KAYS expects to complete its initial license application within the next 30 days, and subject to OHA approval, intends to bring the facility online within 90 days. KAYS plans to operate The Sacred Mushroom™ as part of its Fifth Dimension Therapeutics, Inc. subsidiary (“FDT”), which also plans to work cooperatively with select pharmaceutical companies to maximize the curative potential of psilocybin.

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 info@kayaholdings.com 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. If you would like to speak to someone at the Company, please call ore text 954-480-3960 and someone will get right back to you.

About Kaya Holdings, Inc. (www.kayaholdings.com)
Kaya Holdings, Inc is a “mind care” company with operations in medical/recreational cannabis and pending operations in the emerging psilocybin sector. KAYS is a fully reporting, US-based publicly traded company, listed for trading on the over-the-counter market under the symbol KAYS.

In 2014 KAYS became the first US public company to own and operate a medical cannabis dispensary (in Portland, Oregon). The Company still operates the original Kaya Shack™ cannabis dispensary while seeking to shift our cannabis operations to serve the European Union. KAYS has interests in three medical cannabis licenses (2 in Greece, 1 in Israel) to advance this effort.

Resuming its role as innovator and trendsetter, the Company is again breaking ground in the United States with the planned introduction of psilocybin treatment centers through our majority-owned subsidiary, Fifth Dimension Therapeutics, Inc. (“FDT”).

KAYS subsidiaries include:

Fifth Dimension Therapeutics, Inc. serves as the Company’s operating branch in the psychedelic treatment sector, including operation of mushroom cultivation facilities and The Scared Mushroom™ treatment centers.

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 in the United States.

Kaya Brands International, Inc., serves as the vehicle for the Company’s non-U.S. operations including cultivation activities under development 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 psychedelics and cannabis. Potential investors and shareholders are cautioned that KAYS and subsidiaries including FDT 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. Additionally, the launch of The Sacred Mushroom™ Psilocybin Treatment Center is dependent, among other matters, on final Oregon Health Authority (“OHA”) licensing and receipt of final financing from our investors.

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.

SOURCE: Kaya Holdings

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.


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Can Psilocybin / Oregon’s Silo Wellness “Change your Mind?” – Anderson Cooper’s CNN Documentary with Journalist Tripping on Camera this Sunday; Debt Settlement Updates https://mjshareholders.com/can-psilocybin-oregons-silo-wellness-change-your-mind-anderson-coopers-cnn-documentary-with-journalist-tripping-on-camera-this-sunday-debt-settlement/ Thu, 15 Jun 2023 00:21:50 +0000 https://cannabisfn.com/?p=2973821

Ryan Allway

June 14th, 2023

News, Psychedelics, Top News, Top Story


Springfield, Oregon–(Newsfile Corp. – June 14, 2023) – Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) (“Silo” or “the Company”), a pioneer in psilocybin wellness retreats, is excited to announce its feature this Sunday on a groundbreaking CNN documentary episode of The Whole Story with Anderson Cooper.

The episode, entitled ‘Magic Mushrooms: Can They Change Your Mind?’ takes an unprecedented step in mainstream media coverage of psychedelic therapies: CNN Correspondent David Culver undergoes psilocybin therapy on camera, providing viewers with a firsthand perspective on the transformative journey. This is a follow-up on Mr. Culver’s CNN story featuring Silo Wellness last November.

“We’re honored to be part of this monumental moment in mainstream media,” said Oregon attorney Mike Arnold, CEO of Silo Wellness. “This isn’t just a milestone for Silo Wellness, but for the entire field of psychedelic therapy. It’s a significant step towards greater understanding and acceptance.”

Silo Wellness, known for its distinctive retreats in the beautiful landscapes of Jamaica with plans in Oregon, is proud to have facilitated this transformative experience. The episode gives the public an intimate view of participants’ personal healing journeys under the guidance of Silo’s experienced team.

The episode is set to premiere this Sunday, June 18 at 8pm ET/PT. This represents a prime opportunity for potential investors, current shareholders, and the general public to gain an inside look at the innovative work being done at Silo Wellness.

“By showcasing our approach to psilocybin therapy and its profound potential on a platform like CNN, we’re playing a part in normalizing and destigmatizing these treatments, creating value for our shareholders and improving the narrative around mental health care,” added Arnold.

Other Corporate Updates – Debt Settlement

Silo Wellness intends to issue 11,078,959 shares of its common stock to settle the CAD$166,184.38 account payable debt in an arm’s length transaction subject to the statutory four-month hold. The number of shares is determined based on CAD$0.015 per share, the 20-day volume-weighted average price (VWAP) as of Monday, June 12, 2023. Pursuant to CSE Policy 6.2(5) (adopted April 3, 2023), the Company intends to close on the share issuance no sooner than five days. The price protection expires July 22, 2023. In accordance with the previously announced debt restructuring plan, the Company intends to issue shares to settle additional accounts payable and other debt.

Regarding the intended shares for debt announced on April 24, 2023, the Company no longer intends to settle that debt at this time. The parties have agreed to extend the closing of that transaction to contemplate additional opportunities.

For more information about Silo Wellness or to book a Jamaican psychedelic retreat, please visit www.silowellness.com.

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

About Silo Wellness

Silo Wellness’s mission is to provide psychedelics to those suffering as quickly and inexpensively as possible. Silo is currently Oregon’s only publicly traded company actively providing psychedelics to clients. The Company was founded in 2018 by an Oregon trial lawyer in anticipation of Oregon legalizing psilocybin on January 1, 2023, and currently offers Jamaica psilocybin retreats at an all-inclusive seafront resort. The Company has a right of first refusal on all psilocybin mushrooms with Oregon first-mover cultivator Satya, Inc., and announced in January its intended Portland-area rural psilocybin service center with overnight dorm room accommodations (if land use permits are granted).

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the ability of Silo Wellness to actually increase or maintain revenue and even stay viable as a public company given the capital and revenue deficiencies previously announced. Obtaining profitability and scaling in Jamaica continues to be an uncertain risk along with accomplishing anything licenses in Oregon and then becoming profitable. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.

Such factors include, but are not limited to: general business, economic, competitive, regulatory, political and social uncertainties, potential impacts of COVID-19, uncertainties regarding the finalization of definitive agreements with the property owner, and the risk of commoditization in the psychedelic market. Such risks and uncertainties include, among others, the risk factors included in Silo Wellness’s continuous disclosure documents available on www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Silo Wellness assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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.


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Kaya Holdings, Inc.’s V.P. Bryan Arnold Among First Ten (10) State Licensed Psilocybin Facilitators in U.S.A. https://mjshareholders.com/kaya-holdings-inc-s-v-p-bryan-arnold-among-first-ten-10-state-licensed-psilocybin-facilitators-in-u-s-a/ Wed, 24 May 2023 14:32:09 +0000 https://cannabisfn.com/?p=2973164

Ryan Allway

May 24th, 2023

Psychedelics, Top News


KAYS’ Fifth Dimension Therapeutics Plans to Open “The Sacred Mushroom™” Psilocybin Centers in Oregon, Marking Entry into the Global Psychedelics Market, which is Forecast to Exceed $8 Billion by 2029.

FT. LAUDERDALE, FL / ACCESSWIRE / May 24, 2023 / Kaya Holdings, Inc., (“KAYS” or the “Company”) (OTCQB:KAYS), congratulates Bryan Arnold, a dedicated 9-year Kaya employee and Vice President with KAYS subsidiary Fifth Dimension Therapeutics, Inc. (“FDT”), for being among the first graduates of the Changa Institute and among the first ten (10) state Licensed Psilocybin Facilitators in the United States. The Company is proud of Bryan and look forward to his contribution as we seek to develop and launch “The Sacred Mushroom™” Psilocybin Centers in accordance with Oregon State law.

Kaya Holdings, Tuesday, May 23, 2023, Press release picture
KAYS’ Fifth Dimension Subsidiary Vice President Bryan Arnold is one of the first people to be licensed to facilitate psilocybin experiences in the United States outside of clinical trials in over 50 years.

As reported by Bloomberg in July of 2022, “the rise in stress levels and the growing rate of chronic diseases throughout the world is predicted to propel the global psychedelic medicines market expansion… the value of the Global Psychedelic Therapeutic Market is expected to grow from US$ 3.61 billion in 2021 to US$8.31 billion by 2028, with a CAGR of 13.2%.”

In January 2023 KAYS announced the launch of its FDT subsidiary to provide psychedelic “mind care” treatments to veterans suffering from PTSD, addicts seeking to break addiction, individuals with eating disorders, and people with treatment resistant depression and other mental health disorders. We are pleased to report this milestone and will update shareholders as we move forward with our plans to open our first Psilocybin Service Center to service the growing Psychedelics Market.

“An uncomfortable fact is that approximately every 40 seconds someone around the world commits suicide,” stated W. David Jones, KAYS Senior Advisor for Business Development and Financial Operations. “Picture a football stadium filled with 65,000 fans. That’s how many people die from suicide every month, and this doesn’t even consider the toll on the millions of family members and friends who are left behind, or the more than 100 million people struggling through their lives because of ineffectual mental health treatments” continued Jones. “We are moving to establish a unique facility dedicated to helping people leverage the power of psychedelics for richer, fuller, and more joyful living, pursuant to Oregon Health Authority requirements and statutes.”

“My experiences at the Changa Institute transformed my understanding of psychedelics”, says Bryan Arnold, Vice President of the Company’s Psychedelic unit. “I have gained a tremendous respect for the power of psychedelics and am excited by the potential it has to help people with certain mental health conditions. Being part of the KAYS team introducing psychedelics to the people of Oregon is both a responsibility and an honor, and The Sacred Mushroom™ will reflect our deep respect for psychedelics and the potential they hold to help or heal,” Arnold continues.

Changa Institute Graduates First Licensed US Psychedelic Facilitators:

https://psychedelichealth.co.uk/2023/04/03/changa-institute-first-licensed-us-psychedelic-facilitators/

Updated Information about Kaya Holdings, Inc. http://icont.ac/4QBdX

Kaya Holdings, Inc. (OTCQB:KAYS) is a Mind Care Company with longstanding operations as a touch-the-plant, vertically integrated legal cannabis business. The Company is evolving into a full mind care enterprise with the planned introduction of psilocybin and ketamine treatments, as permitted by State Law, as we seek to expand our medical cannabis business overseas. 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.

Shareholder Hotline: For more information, please call 954-480-1270 or email info@kayaholdings.com to speak with our new Corporate Communications Manager regarding your investment in KAYS.

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 info@kayaholdings.com 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.

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 and in-facility treatment centers.

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. Success of our business plan including the launch of “The Sacred Mushroom™” Psilocybin Facilitation Centers depends on many factors including receipt of requisite funding to build out and staff the Centers.

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.

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.


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MindBio Therapeutics Corp (CSE: MBIO) Reveals Scientific Paper in World-First Take-Home, LSD-Microdosing Clinical Trial in 80 Healthy Participants https://mjshareholders.com/mindbio-therapeutics-corp-cse-mbio-reveals-scientific-paper-in-world-first-take-home-lsd-microdosing-clinical-trial-in-80-healthy-participants/ Wed, 10 May 2023 05:36:26 +0000 https://cannabisfn.com/?p=2973086

Ryan Allway

May 9th, 2023

Psychedelics, Top Story


  • MindBio clinical trial published in Peer Reviewed Paper Biological Psychiatry
  • First of 8 significant publications on LSD-Microdosing from a Phase 1 clinical trial
  • Phase 1 Clinical trial produced outstanding mood responses in healthy participants
  • MindBio is developing a Microdosing treatment protocol combining big data and drug and formulation development

VANCOUVER, BC / ACCESSWIRE / May 9, 2023 / MindBio Therapeutics Corp. (CSE:MBIO); (the “Company” or “MindBio“) is pleased to announce its scientific collaborators have recently published their first Peer Reviewed Paper in Biological Psychiatry, an official journal of Psychiatric Neuroscience and Therapeutics. MindBio scientific collaborators expect to publish a further 7 important scientific papers in the coming year, announcing significant findings from the substantial amount of data collected from wearables, blood and DNA analysis, EEG and other biometric and psychometric data collected from the Phase 1 trial.

MindBio Therapeutics, Tuesday, May 9, 2023, Press release picture
MindBio Therapeutics, Tuesday, May 9, 2023, Press release picture

Having completed the world’s first government approved take-home LSD-Microdosing clinical trial, this peer reviewed scientific paper, examines the effectiveness of LSD-Microdosing in a non-clinical laboratory environment, where healthy participants self-administered the drug at home under double blinded and placebo controlled conditions.

The Phase 1 LSD-Microdosing clinical trial of healthy volunteers were randomised into an LSD group and a Placebo group and received 14 doses every 3 days for 6 weeks. With the first dose conducted in the laboratory, the remaining 13 doses were taken at home.

Notably, there were no serious adverse events recorded and participants on dose days had substantial improvements in mood including increases in:

  1. Energy
  2. Social Connectivity
  3. Creativity
  4. Wellness
  5. Happiness

Chief Executive Justin Hanka said “The data we have collected in our clinical trials has exceeded our expectations and shows much promise for treating patients with mental health conditions such as depression and anxiety where diminished mood, compromised wellbeing and low energy are experienced.

The data is confirmatory of our dedication to progress clinical trials in continuation Phase 2 LSD-Microdosing clinical trials, particularly in patients experiencing depressive symptoms”.

MindBio is fully funded for two upcoming Phase 2 clinical trials LSD-Microdosing in patients with Major Depressive Disorder and a second Phase 2 clinical trial in cancer patients experiencing emotional distress.

Receive our latest updates here: Register to receive our latest updates

Follow MindBio on LinkedIn: here
Follow CEO Justin Hanka on LinkedIn: here

For further information, please contact:

Justin Hanka, Chief Executive Officer
61 433140886
justin@mindbiotherapeutics.com

About MindBio Therapeutics

MindBio is a biotech/biopharma company focused on creating novel and emerging treatments for mental health conditions and is conducting world first take home LSD-Microdosing human clinical trials. MindBio has a leading presence in microdosing of psychedelic medicines and is advancing its drug and technology intervention protocols through clinical trials. MindBio has developed a multi-disciplinary platform for developing treatments and is involved in psychedelic medicine development, has completed Phase 1 clinical trials microdosing Lysergic Acid Diethylamide (LSD) in 80 patients, has a Phase 2 clinical trial in development microdosing LSD in patients with Major Depressive Disorder and a Phase 2 clinical trial in development microdosing LSD in late stage cancer patients experiencing existential distress. MindBio invests in research that forms the basis for developing novel and clinically proven treatments including digital technologies and interventions to treat debilitating health conditions such as depression, anxiety and other related mental health conditions.

Cautionary Note Concerning Forward-Looking Statements:

The press release contains “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “budget,” “believe,” “project,” “estimate,” “expect,” “scheduled,” “forecast,” “strategy,” “future,” “likely,” “may,” “to be,” “could,” “would,” “should,” “will” and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and conditional. Forward-looking statements are based on assumptions as of the date they are provided. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

Additionally, there are known and unknown risk factors that could cause the Company’s actual results and financial conditions to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important risk factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements, include among others: general economic, market and business conditions in Canada and Australia; market volatility; unforeseen delays in timelines for any of the transactions or events described in this press release. All forward-looking information is qualified in its entirety by this cautionary statement.

The Company disclaims any obligation to revise or update any such forward-looking statement or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: MindBio Therapeutics

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.


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SciSparc and Clearmind Collaboration Strengthens IP Portfolio with Patent Application in the U.S. for Treatment of Depression https://mjshareholders.com/scisparc-and-clearmind-collaboration-strengthens-ip-portfolio-with-patent-application-in-the-u-s-for-treatment-of-depression/ Fri, 21 Apr 2023 17:32:34 +0000 https://cannabisfn.com/?p=2973009

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as “expects”, “will”, “anticipates”, and “estimates”; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief “snapshot” of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled “Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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Aegis Capital Corp. acted as Exclusive Placement Agent on a $3.5 Million Public Offering for Clearmind Medicine Inc. (NASDAQ: CMND) https://mjshareholders.com/aegis-capital-corp-acted-as-exclusive-placement-agent-on-a-3-5-million-public-offering-for-clearmind-medicine-inc-nasdaq-cmnd/ Mon, 10 Apr 2023 17:41:49 +0000 https://cannabisfn.com/?p=2972981

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as “expects”, “will”, “anticipates”, and “estimates”; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief “snapshot” of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled “Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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Clearmind Medicine Announces Pricing of US$3.5 Million Public Offering https://mjshareholders.com/clearmind-medicine-announces-pricing-of-us3-5-million-public-offering/ Tue, 04 Apr 2023 20:39:18 +0000 https://cannabisfn.com/?p=2972954

Ryan Allway

April 4th, 2023

Psychedelics, Top News


Tel Aviv, Israel / Vancouver, Canada, April 04, 2023 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (NASDAQ: CMND) (CSE: CMND), (FSE: CWY) (“Clearmind”), a biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced the pricing of its United States only public offering made on a reasonable best efforts basis with gross proceeds to the Company expected to be approximately US$3.5 million, before deducting placement agent fees and other expenses payable by the Company. The offering consists of 4,505,718 common shares and pre-funded warrants and 4,505,718 common warrants. The common warrants are immediately exercisable, will expire five years from the date of issuance and will have an exercise price of US$0.78 per common share. Each common share (or pre-funded warrant in lieu thereof) is being sold together with one common warrant at a combined purchase price of US$0.78 per share (or US$0.779 per pre-funded warrant after reducing US$0.001 attributable to the exercise price of the pre-funded warrants) but will be issued separately. The common warrants and pre-funded warrants will not be listed on any exchange.

The offering is expected to close on April 6, 2023, subject to the satisfaction of customary closing conditions.

The Company expects to use the net proceeds from the offering, for general corporate purposes, which may include operating expenses, research and development, including clinical and pre-clinical testing of our product candidates, working capital, future acquisitions and general capital expenditures.

The offering is not being made in Canada and residents of Canada may not purchase any securities being offered in the offering.

Aegis Capital Corp. is acting as exclusive placement agent for the offering.

A registration statement on Form F-1 (File No. 333-270859) relating to the offering of the securities was filed with the U.S. Securities and Exchange Commission (SEC) and declared effective by the SEC on April 3, 2023. The offering is being made only by means of a prospectus. A final prospectus  describing the terms of the proposed transaction may be obtained, when available, on the SEC’s website, www.sec.gov or by  contacting Aegis Capital Corp., 1345 Avenue of the Americas, 27th Floor, New York, NY 10105, by telephone at (212) 813-1010 or by email at syndicate@aegiscap.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Clearmind Medicine Inc.

Clearmind is a psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements.

The company’s intellectual portfolio currently consists of 13 patent families. The company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.

Shares of Clearmind are listed for trading on Nasdaq and the Canadian Securities Exchange under the symbol “CMND” and the Frankfurt Stock Exchange under the symbol “CWY.”

For further information visit: https://www.clearmindmedicine.com or contact: 

Investor Relations:

invest@clearmindmedicine.com

Telephone: (604) 260-1566

General Inquiries

Info@Clearmindmedicine.com

www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will issue as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F filed with the SEC on February 6, 2023 and the Company’s preliminary prospectus (Registration No. 333-270859), filed with the SEC on March 31, 2023. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites. 

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.


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Doseology Announces CEO Transition https://mjshareholders.com/doseology-announces-ceo-transition/ Fri, 31 Mar 2023 19:11:22 +0000 https://cannabisfn.com/?p=2972930

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as “expects”, “will”, “anticipates”, and “estimates”; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief “snapshot” of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled “Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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Silo Wellness Eliminates Another CAD$4,440,000 of Debt from Balance Sheet by Disposing of Subsidiary https://mjshareholders.com/silo-wellness-eliminates-another-cad4440000-of-debt-from-balance-sheet-by-disposing-of-subsidiary/ Tue, 28 Mar 2023 17:00:45 +0000 https://cannabisfn.com/?p=2972915

Ryan Allway

March 28th, 2023

News, Psychedelics, Top News


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.


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