Toronto, Ontario–(Newsfile Corp. – August 6, 2024) – Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (“Psyched”), a life sciences company focused on the production and distribution of health and wellness products, announces that on July 27th, 2024, it was notified of a supply chain disruption at its sole manufacturing facility in the United States. The facility is operated by a third-party contractor and is used by Psyched to produce its proprietary extracts AME-1 and Calm.
Psyched has an existing inventory of products, and consequently the Board and management have determined that online sales will be suspended until such a time that a new contract manufacturer is secured. This will allow Psyched to continue to support its retail sales partners and monthly subscribers for the next 8-12 weeks from current inventories.
Jeffrey Stevens, CEO of the Company says, “We know that our many customers need a reliable supply of high-quality AME-1 based products. We are focused on diligently securing additional co-manufacturers to resume production of AME -1 and Calm as soon as is reasonably possible.”
For further information, please contact:
Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
Tel: 647-400-8494
Email: jstevens@psyched-wellness.com
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.