Psyched wellness
provides update on
antioxidant
and anTI-INFLAMMAtory
study of
muscimol
Toronto,
Ontario, February
4, 2020 –
InvestorsHub NewsWire -- 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
share an
update on the previously
announced study
to determine the therapeutic values of muscimol
for antioxidant and anti-inflammatory
purposes via a
nerve derived immunity and neuroprotective
modulation
models.
The
study,
led by Brian Tancowny, a scientific advisor to the
company, is focused on determining the
effectiveness of
the Company's AME-1 extract and
the active
compound muscimol from the
Amanita
Muscaria mushroom for potential dual antioxidant and
anti-inflammatory properties. An initial set of preclinical
tests
examining
potential
allergenicity have been completed and results demonstrate that AME-1 does not
have any
allergenic properties in an invitro cell-based mast cell
model. These
initial findings support that AME-1 is not
allergenic and as such will not show signs
of hypersensitivity when used in a supplement
form.
Subsequent studies are being conducted to further support these
findings and antioxidant and anti-inflammatory
studies are
also
underway.
"These early
results are very encouraging from a scientific and health
standpoint to demonstrate that AME-1 has no underlying danger
and triggering a protective response." says Brian Tancowny, a scientific advisor to the
Company.
Jeff Stevens, CEO
of Psyched
Wellness said, "The research from these
studies supports what we already
believe—that this special compound will have therapeutic benefits. It
is our job to continue to work hard to uncover AME-1's
potential,
and our research and development team will continue to examine all
potential ways that that Amanita Muscaria can have positive impacts
on health and wellness."
For further
information, please contact:
Jeffrey
Stevens
Chief Executive
Officer
Psyched Wellness
Ltd.
Tel:
647-400-8494
Email:
jstevens@psyched-wellness.com
Website:
http://www.psyched-wellness.com
For media
relations, please contact:
Anne
Graf
KCSA Strategic
Communications
agraf@kcsa.com
786-390-2644
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 and
Statements
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 Psyched
Wellness Ltd. current belief or assumptions as to the outcome and
timing of such future events. Forward-looking information is based
on reasonable assumptions that have been made by Psyched at the
date of the information and is subject to known and unknown risks,
uncertainties, and other factors that may cause actual results or
events to differ materially from those anticipated in the
forward-looking information, including, without limitation,
(i)
the accuracy of the Toxicology Assessment, (ii) the safety of
Amanita Muscaria
consumption and the safety and purity of any extracts thereof, and
(iii) the uses and potential benefits of Amanita
Muscaria. Given
these risks, uncertainties, and assumptions, you should not unduly
rely on these forward-looking statements. The forward-looking
information contained in this press release is made as of the
date hereof,
and Psyched is
not obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. The foregoing
statements expressly qualify any forward-looking information
contained herein. Factors that could cause actual results to differ
materially from those anticipated in these forward-looking
statements are described under the caption "Risk Factors" in
Psyched Wellness Ltd. management's discussion and analysis
for the six months ended May 31, 2020 and covering the subsequent
period up to July 27, 2020 ("MD&A"), dated July 27, 2020, which
is available on Psyched Wellness Ltd. profile at www.sedar.com.
This news
release does not constitute an offer to sell or the solicitation of
an offer to buy, and shall not constitute an offer, solicitation or
sale in any state, province, territory
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, province, territory or
jurisdiction.
This news
release includes data that has been obtained from third party
sources, including the findings from the Toxicology Assessment. The
Company believes that the data is accurate and that its estimates
and assumptions are reasonable, but there is no assurance as to the
accuracy or completeness of this data. Third party sources
generally state that the information contained therein has been
obtained from sources believed to be reliable, but there is no
assurance as to the accuracy or completeness of included
information. Although the data is believed to be reliable, the
Company has not independently verified any of the data from third
party sources referred to in this news release or ascertained the
underlying assumptions relied upon by such sources.
