Springfield, Oregon--(Newsfile Corp. - October 17, 2022) - Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) ("Silo Wellness" or the "Company"), Oregon's only publicly traded psychedelics company, is pleased to announce it has closed its acquisition of 100% of Dyscovry Science Ltd. ("Dyscovry"), a Toronto-based biotechnology company focused on biosynthetic manufacturing of psilocybin and its derivatives targeting a physiological condition, irritable bowel syndrome.
"Bringing the Dyscovry team into the Silo Wellness family is a key component to our pharmaceutical vision which began with our July 2019 priority date for our patent-pending metered-dosing modalities for psilocybin, mescaline, DMT, and 5-MeO-DMT," stated Silo Wellness founder and CEO Mike Arnold, an Oregon attorney. "With our presence and founding in Oregon along with our psychedelic retreat operational experience in Jamaica [with psilocybin and 5-MeO-DMT] and Oregon [with ketamine], Dyscovry's portfolio will allow us to further our goal of covering both tracks of the psychedelic industry under one roof: psychedelic healing now via jurisdiction-by-jurisdiction "adult use" and pharmaceutical biotech."
Terms of the transaction, which was an arm's length acquisition with no finder's fees paid, can be found in the Company's September 27, 2022 press release announcing the signing of the September 26, 2022, definitive agreement. Upon closing of the transaction, CFO Winfield Ding has resigned from the board of directors and Dyscovry founder Gerard Lee of Toronto has been appointed director. Winfield Ding will continue as Chief Financial Officer.
ABOUT DYSCOVRY
DYSCOVRY SCIENCE LTD is an innovative Toronto-based biotechnology company conducting research to establish a world-leading position in the development of fungal- and plant-derived therapeutics through its proven drug discovery and development processes, its growing intellectual property portfolio, and regulatory and manufacturing expertise.
Story continues
Dyscovry is led by an experienced team with government, university and private collaborations focusing on biosynthesis of psilocybin and investigating a quantifiable anti-inflammatory effect of psychedelics - believed to be mediated through 5-HT2A activation - and how this relationship pertains to disorders that affect the large intestine. Dyscovry is focused on indications such as Irritable Bowel Syndrome (IBS) that inflict suffering on a double digit percentage of the entire human global population. This suffering includes the physiological symptoms but also the secondary psychological symptoms from living with this disease.
ABOUT SILO WELLNESS
Silo Wellness is a growth-oriented holding company focused on psychedelic opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 in Oregon and headquartered in Toronto, Silo Wellness has a presence in both Jamaica and Oregon. Silo Wellness is a publicly traded company on the Canadian (CSE: SILO) and Frankfurt (FSE: 3K7A) exchanges and trading on the OTCQB Venture Market (OTCQB: SILFF).
For more information about Silo Wellness or to book a Jamaican psychedelic retreat, please visit http://www.silowellness.com.
Silo Wellness Company Contact:
Mike Arnold, President541-900-5871IR at silo wellness dot com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking information may relate to anticipated events or results including, but not limited to Dyscovry's development of certain technologies and products; Dyscovry's initiation of research, clinical trials and timing thereof; Dyscovry's successful completion of clinical trials; the Company's ability to fund Dyscovry's as well as the company's pre-existing capital requirements; and any potential success in perfecting any patent claims. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, regulatory, political and social uncertainties and the potential impact of COVID-19. Such risks and uncertainties include, among others, the risk factors included in Silo Wellness's continuous disclosure documents available on http://www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Silo Wellness assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140629
See the rest here:
- Psychedelic Drug Effects, Side Effects & Dangers - January 25th, 2023
- Psychedelics Decriminalization Project In Berkeley, Cal Includes ... - January 6th, 2023
- Ancient mummified child was drugged with psychedelics before ritual ... - December 14th, 2022
- The therapeutic potential of psychedelics - Science - December 14th, 2022
- Changing Lives with Psychedelics: How Connecticut researchers are using magic mushrooms to help people overcome depression, OCD - WTNH.com - November 19th, 2022
- Penis Envy Mushroom | Legal Psychedelics | Magic Mushroom - November 7th, 2022
- Psychedelics. Discussing natural and synthetic friends. Science, News ... - November 5th, 2022
- The Harms of Psychedelics Need to Be Put Into Context - WIRED - November 5th, 2022
- Packers' Aaron Rodgers says psychedelics led to his back-to-back MVP ... - October 28th, 2022
- With Promise of Legalization, Psychedelic Companies Joust Over Future Profits - The New York Times - October 25th, 2022
- How do psychedelics work? This brain region may explain their effects - PBS - October 21st, 2022
- Why is the American right suddenly so interested in psychedelic drugs? - The Guardian - October 19th, 2022
- Can Psychedelics Cure? Science Is on the Verge of Finding Out - Newsweek - October 19th, 2022
- Large national survey suggests that the use of psychedelics is not associated with lifetime cancer development - PsyPost - October 19th, 2022
- This Pharma Company Just Scored Another Psychedelics Patent And Set Its Sights On 70 More - Small Pharma - Benzinga - October 19th, 2022
- What Made the Mushrooms Magic: Psychedelic Study Explores the Odd Evolution of Mind-Altering Fungi - The Debrief - October 19th, 2022
- Psychedelics And Wellness: The Healing Company Buys PepsiCo-Backed Superfoods Company - (HLCO) - Benzinga - October 19th, 2022
- What's on the Colorado ballot? Housing, psychedelics, school meals, alcohol, taxes and more | FOX31 Denver - FOX 31 Denver - October 19th, 2022
- DoseConnect to Sponsor the Tech Stage at Wonderland Miami by Microdose - Benzinga - October 19th, 2022
- What Is Going on With Bright Minds (DRUG) Stock Today? - InvestorPlace - October 19th, 2022
- Psychedelics May Ease Fear of Death and Dying - October 17th, 2022
- TDR's Top 5 Psychedelic Developments For The Week Of October 10 - The Dales Report - October 17th, 2022
- DEA Wants To Boost Production Of Cannabis & Psychedelics For Research In 2023 - Benzinga - October 17th, 2022
- Talk set to explore psychedelics and mental health - Reading Today - October 17th, 2022
- How does psilocybin rewire the brain? - Open Access Government - October 17th, 2022
- HYTN Awarded Controlled Drugs and Substances Dealers License Allowing for Production and Sale of Psilocybin - Yahoo Finance - October 17th, 2022
- The Healing Company acquires leading superfoods business, Your Super, and lands $150M credit facility to expand community of brands - Yahoo Finance - October 17th, 2022
- 5 Things to Know About Colorados Psychedelics Ballot Initiative - Kaiser Health News - October 15th, 2022
- Psilocybin Retreats - a Focal Point of the Growing Psychedelic Market - The Hype Magazine - October 15th, 2022
- 10 must-read weed and psychedelics books from the last decade - Leafly - October 15th, 2022
- Treating Postpartum Depression with Psychedelics - Psychedelic Spotlight - October 15th, 2022
- Clerkenwell Health raises 2.1M to test the new wave of psychedelics treatments - TechCrunch - October 15th, 2022
- Toronto Psychedelic Exhibition features the Art and History of Psychedelics - Psychedelic Spotlight - October 15th, 2022
- Elon Musk's 'Exploratory Journeys' And Charts Explaining Benefits Of Psychedelics Over Alcohol - Tesla (N - Benzinga - October 15th, 2022
- ALTRD.TV's Open Minds Documentary Explores the Promising Future of Psychedelic Medicine - Business Wire - October 15th, 2022
- IntelGenxs Collaboration with atai Life Sciences Culminates in the Initiation of First-in-Human Clinical Study of an Oral Thin Film Psychedelic Drug... - October 15th, 2022
- Psychedelics Companies And IPs: An Extended Patent Application To Protect Multiple LSD Derivatives - Bett - Benzinga - September 29th, 2022
- Congressman Says Psychedelics Show 'Real Promise' As Alternative Therapies At Committee Hearing - Marijuana Moment - September 29th, 2022
- Psychedelics and mental health: the potential, risks and hype - WHYY - September 27th, 2022
- Is Now a Good Time to Invest In Psychedelics Stocks? - The Motley Fool - September 27th, 2022
- I went to the only psychedelic dispensary in North Americaheres how they do it - The Manual - September 27th, 2022
- Psychedelic drugs: how to tell good research from bad - The Conversation Indonesia - September 27th, 2022
- The Connection Between Psychedelics and Grief - Psychedelic Spotlight - September 27th, 2022
- Effects of LSD and Psilocybin in Healthy Participants - Psychiatric Times - September 27th, 2022
- Cannabis And Psilocybin May Have Helped This Woman's Breast Cancer Treatment - IFLScience - September 27th, 2022
- Ketamine, psilocybin and ecstasy are coming to the medicine cabinet - Yahoo Finance - September 27th, 2022
- American Legion and Reality Center Partner to Provide Patented, Drug-Free Psychedelic Experience to Veter - Benzinga - September 27th, 2022
- Let's Bring the Informed Consent Process Out of the Shadows - Undark Magazine - September 27th, 2022
- Nicole Krauss on Death, Birth, and Middle Age - The New Yorker - September 27th, 2022
- Daily Skimm: Psychedelics, The DOJ, and iMessages - theSkimm - September 15th, 2022
- Inside the UK's new psychedelic drug trial clinic trying to treat depression and anxiety - iNews - September 15th, 2022
- What A Trip: Delix Therapeutics is Treating Mental Health at Scale with Psychoplastogens - Genetic Engineering & Biotechnology News - September 15th, 2022
- HealingMaps Announces $1 Million in Seed Funding to Power Growth in Psychedelic Therapy Industry - Yahoo Finance - September 15th, 2022
- Nav Talks The Moment He Realized He Made It; It Involves Psychedelics - UPROXX - September 15th, 2022
- Psychedelics and Psychedelic-Assisted Psychotherapy - September 7th, 2022
- Preparing for a new era of psychedelic treatment - The Hub at Johns Hopkins - September 7th, 2022
- Toronto is getting a trippy psychedelics immersive exhibition this month - Curiocity - September 7th, 2022
- Xtalks to host upcoming webinar on psychedelic know-how - Mugglehead - September 7th, 2022
- An immersive psychedelic exhibition is opening in Toronto this month | Listed - Daily Hive - September 7th, 2022
- Netflixs How to Change Your Mind Says Drugs Are the Answer Are They Right? - Goalcast - September 7th, 2022
- Yeah, Mental Health, Bro, It Starts With Self-Love | Aaron Rodgers Says His Use Of Psychedelics Has Increased His Passion For Life And The Game Of... - September 7th, 2022
- Delic Executive Chairman Matt Stang Named to World Biz Magazine's Top 100 CEOs in Innovation - Yahoo Finance - September 7th, 2022
- Cannabis and Hallucinogens Are Being Consumed at the Highest Rates on Record by Today's Young Adults - Cannabis Science and Technology - September 7th, 2022
- Aspen considers the value of psychedelics for mental wellness - The Aspen Times - August 29th, 2022
- Oregon's Psychedelics Law Comes Down To Individuals: Which Counties Will Ban Them? - Benzinga - August 29th, 2022
- The Black mothers finding freedom in mushrooms: They give us our power back - The Guardian - August 29th, 2022
- Psychedelic Water CEO Pankaj Gogia Talks About The Future Of Psychedelics - Exclusive - Health Digest - August 2nd, 2022
- Biden Administration Says Task Force Is Needed to Advance Psychedelics Research - Green Entrepreneur - August 2nd, 2022
- Legalizing the trip: One 'shroom advocate's playbook - POLITICO - August 2nd, 2022
- 'The result was a rebirth. I finally got where I wanted to go': Celebs who have tried psychedelics - The Daily Post-Athenian - August 2nd, 2022
- Texas' first Ceremonial Psychedelic Treatment Center WITHIN opens in Austin - PR Web - August 2nd, 2022
- Postdoctoral Research Fellow in Psychedelics, Neurodevelopment and Electrophysiology job with UNIVERSITY OF SYDNEY | 303322 - Times Higher Education - August 2nd, 2022
- Unlimited Sciences Announces Groundbreaking New Study to Observe Ayahuasca's Effects on Trauma - Business Wire - August 2nd, 2022
- Good Trip? How Psychiatrists Got Serious About Using Psychedelics to Treat Mental Health - Robb Report - July 25th, 2022
- The hope and hype of psychedelic therapy - ABC News - July 25th, 2022
- Microdosing Psilocybin Mushrooms May Improve Mental Health and Mood - Healthline - July 25th, 2022
- TDR's Top 5 Psychedelic Developments For The Week Of July 18 - The Dales Report - July 25th, 2022
- Psyched Up: The race to make psychedelic drugs part of mainstream medicine - ABC News - July 25th, 2022
- Keeping the Hippie Dream Alive - The New York Times - July 25th, 2022
- DEA Sued Over Delays To Open Records For Psychedelics And Cannabis - Benzinga - Benzinga - July 25th, 2022