Welcome to our dedicated page for Psyched Wellness news (Ticker: PSYCF), a resource for investors and traders seeking the latest updates and insights on Psyched Wellness stock.
Psyched Wellness Ltd. develops and distributes health and wellness products derived from the Amanita Muscaria mushroom. Company news centers on its consumer supplement portfolio, including Calm, Calmer, AME-1 extract and related dietary supplement formats, along with product formulation, shelf-life, safety-study and flavor-profile updates.
Recurring developments also include retail and wholesale distribution relationships in Canada and the United States, manufacturing and supply-chain matters, regulatory and policy commentary affecting botanical wellness products, and board or executive governance changes. The company’s updates often connect product commercialization with route-to-market partnerships and the regulatory risks associated with Amanita Muscaria-derived consumer products.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) has announced a supply chain disruption at its sole US manufacturing facility on July 27, 2024. The facility, operated by a third-party contractor, produces Psyched's proprietary extracts AME-1 and Calm. In response, the company has suspended online sales to prioritize supporting retail partners and monthly subscribers for the next 8-12 weeks using existing inventory.
CEO Jeffrey Stevens stated that the company is focused on securing additional co-manufacturers to resume production as soon as possible. This disruption highlights the importance of a reliable supply chain for Psyched Wellness's operations and its commitment to maintaining product availability for customers.
Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF), a company focused on Amanita Muscaria mushroom products, has expanded its retail partnerships to include Harmons, a Utah-based upscale supermarket chain. Calm, their product, will be available in 16 Harmons locations. To support this, Psyched has engaged UNFI, the largest health and specialty food distributor in North America.
The company has also appointed Kyle Nazareth as Chief Financial Officer, effective July 17, 2024. Nazareth brings over a decade of experience in managing public companies and advising on capital market transactions. He succeeds Keith Li, who served as CFO since January 2020.
Psyched Wellness continues to focus on partnering with specialty retailers offering high-quality products, aiming to differentiate itself as the first legal Amanita Muscaria-derived product for human consumption in the United States.
Psyched Wellness, a life sciences company focused on Amanita Muscaria mushroom-derived products, is set to launch Amanita Muscaria watermelon gummies in the U.S. this summer. These gummies, named "Fly (Agaric)", will be the first legal and safe gummies of their kind in the U.S., utilizing the company's proprietary extract, AME-1. The product responds to customer preference for gummies, offering convenience and flavor. Psyched Wellness plans to expand its market reach and anticipates these gummies will outperform their tincture sales. For more information, visit psyched-wellness.com or contact their sales team at sales@psyched-wellness.com.
Psyched Wellness announced the grant of 3,800,000 stock options to its directors, officers, consultants, and employees under its Stock Option Plan. These options will vest in four months and the underlying shares are subject to a four-month hold period as per CSE policies. CEO Jeff Stevens expressed the company's commitment to reward its team for securing a $7.5M USD investment from Gotham Green Partners, ensuring alignment with the company's success. The company aims to boost direct-to-consumer (D2C) sales through its online store and expand its presence in brick-and-mortar retailers. Psyched Wellness is the first to offer Amanita Muscaria products in Erewhon, Market of Choice, and Good Earth Markets. Their proprietary extract, AME-1, is the first legal Amanita Muscaria extract for human consumption in the USA, positioning the company for upcoming retail launches.
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