Toronto, Ontario--(Newsfile Corp. - December 2, 2020) - Psyched Wellness Ltd. (CSE: PSYC) (OTC Pink: DCNPF) (FSE: 5U9) (formerly Duncan Park Holdings Corporation) (the "Company" or "Psyched") a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, today announced its successful up-listing from the OTC Pink Market to the OTCQB® Venture Market. Psyched will continue to trade under the symbol "DCNPF" until such time as a symbol change request is completed.
OTCQB® Venture Market is operated by the OTC Markets Group, Inc. and is designed for early-stage and developing U.S. and international companies, and offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base. To be eligible for quotation on the OTCQB®, companies must meet certain reporting requirements, have audited annual financials by a PCAOB auditor, post initial and annual verifications and management certifications. Companies must also meet a minimum bid price test and other conditions. The OTCQB® is recognized by the Securities and Exchange Commission as an "established public market" for determining the public market price, allowing broker dealers and their customers to more easily trade stocks that may have been previously forbidden due to the confines of the less rigorous Pink Open Market standards.
"We announced on November 12, 2020 that we applied to up-list to the OTCQB® Venture Market and applied for DTC eligibility. This move will provide us with greater visibility within the investment community as we continue to execute on our mission of becoming a leading player in the functional and psychedelic mushroom sector," said Jeff Stevens, CEO of the Company. "Moving up from the OTC Pink Market to the OTCQB® Venture Market will significantly broaden the universe of potential investors for Psyched Wellness".
For further information, please contact:
Chief Executive Officer
Psyched Wellness Ltd.
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. 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.