Published on
March 24, 2022

Psyched Wellness and the National Research Council of Canada Announce Preliminary Data from Studies of Neuroprotective Properties of AME-1

Toronto, Ontario--(Newsfile Corp. - March 24, 2022) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched"), a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, is pleased to announce the preliminary data from the National Research Council of Canada (NRC), from studies on the neuroprotective properties of AME-1, Psyched's proprietary extract from the Amanita Muscaria mushroom.

The study was the first in a series planned to explore the neuroprotective properties of AME-1 and examine if the anti-inflammatory properties would indeed have any potential neuroprotective activities. The preliminary findings continue to demonstrate the anti-inflammatory properties of AME-1, and indicate that AME-1 does not cause apoptosis while also having a neuroprotective effect at the cellular level.

"The preliminary evidence of this investigative study revealed more key functional properties of the AME-1 extract and its broader health and wellness benefits. The neuroprotective effect found in this study is unique, and the potential impacts from a natural product such as AME-1 are novel. The Amanita Muscaria mushroom's functional properties will be further explored, and will we continue to build our knowledge base on the amazing potential healing power of AME-1," said Brian Tancowny, Scientific Advisor to Psyched.

The first part of the analysis focused on the ability of AME-1 to protect neuronal microglial cells from inflammatory mediator-induced apoptosis (the process whereby the cell undergoes a cell programmed cell death), and monitored the cell surface expression of apoptotic markers using annexin V and propidium iodide. The results of the study showed at the cellular level that AME-1 did have a neuroprotective effect on microglial cells that were treated with a pro-inflammatory mediator, and this was determined to be concentration dependence.

The second part of the study was to determine whether AME-1 has any direct inhibitory effects on one of the pro-apoptotic cellular pathways, such as the induction of caspase-3. Caspase-3 has been published to be important in the apoptotic process and is responsible for proteolytic cleavage of key proteins in the cell nucleus. AME-1 did not increase caspase-3 activity, and thus in this pathway being investigated, did not induce any apoptotic or cell death effects. However, there was no inhibition of this pathway which can be explained by the fact AME-1 may influence another apoptotic pathway not investigated yet.

"It is exciting to see continued positive results from the studies we are conducting with the NRC, and further work is being done to examine the mechanisms of this neuroprotection as we learn more about the Amanita Muscaria," said Jeffrey Stevens, CEO of the Company. "As we focus on commercialization of our AME-1 tinctures in the United States this Spring, these studies provide evidence for the potential of many additional future uses of AME-1 to ensure we can offer consumers options for their health and wellness needs."

The NRC is an agency of the Government of Canada, and specializes in providing vital scientific and technological services to the research and industrial communities of Canada. The NRC was hired to provide their expertise in biomedical nanotechnology, but all the results of the research will belong to Psyched, and the NRC does not endorse the findings or Psyched products.

For further information, please contact:

Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
t: (647) 400-8494

Investor Contacts:
Tim Regan/Sophia Bashford
KCSA Strategic Communications
t: (347) 387-6788

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

About Psyched Wellness Ltd.:

Psyched Wellness Ltd. is a Canadian-based health supplements company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The Company's objective is to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category. The Company is in the process of developing a line of Amanita Muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping.

Cautionary Statement Regarding Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the ability of the Company to develop Amanita Muscaria-derived products; the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and (ii) the uses and potential benefits of Amanita Muscaria.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop its mushroom-derived products and associated consumer packaged goods; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the psychedelics market; risks with respect to the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and the risk that there is no potential benefit of Amanita Muscaria consumption.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.