Toronto, Ontario--(Newsfile Corp. - November 26, 2020) - Psyched Wellness Ltd. (CSE: PSYC) (OTC Pink: DCNPF) (formerly Duncan Park Holdings Corporation) ("Psyched") a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, is pleased to announce that Kevin Feeney has joined the advisory board of the Company to work with the team on identifying novel uses for Muscimol, the psychoactive constituent of Amanita Muscaria.
"When Jeff and David contacted me about Psyched Wellness and their interest in the therapeutic potential of the famed Amanita muscaria mushroom, I was enthused," says Kevin Feeney. "Amanita Muscaria has a long history of use for treating a number of ailments including anxiety, insomnia, pain, and inflammation. While this mushroom has been largely overlooked in both standard and alternative medicines, its potential applications are rich and largely unexplored, and shows promise in such disparate areas as treating alcohol and benzodiazepine withdrawal as well as alleviating cognitive impairments related to Lyme disease and Alzheimer's. I look forward to working with Jeff, David, and the rest of the Psyched Wellness team to explore this underappreciated medicine and help bring a quality product to market."
Kevin Feeney, PhD, JD, is a cultural anthropologist and lawyer currently working as a Program Director and Instructor in Interdisciplinary Studies - Social Sciences at Central Washington University. His primary research interests include examining legal and regulatory issues surrounding the religious and cultural use of psychoactive substances, with an emphasis on peyote and ayahuasca, and exploring modern and traditional uses of Amanita muscaria, with a specific focus on medicinal use and preparation practices. He has recently published an edited volume on Amanita muscaria (Fly Agaric: A Compendium of History, Pharmacology, Mythology, and Exploration) and has also been published in the International Journal of Drug Policy, Journal of Psychoactive Drugs, Human Organization, and Curare, among other books and journals (Research articles and other writings can be found at: https://www.researchgate.net/profile/Kevin_Feeney). He is a current board member of Cactus Conservation Institute, which is dedicated to the study and preservation of vulnerable cacti and is also a member of Chacruna's Council for the Protection of Sacred Plants.
"Adding Kevin to our team is a key development in the growth of the company as we look to expand our understanding of the medicinal potential of Amanita Muscaria," says Jeff Stevens, CEO of the Company. "His experience studying psychoactive substances and specifically Amanita Muscaria is key to identifying new novel uses of the compound for various health and wellness applications."
The Company has also issued 750,000 options at a strike price of $0.185 to certain advisors and consultants.
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.
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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.
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