Psyched Wellness Ltd C.PSYC

Alternate Symbol(s): PSYCF

Psyched Wellness Ltd. is a Canada-based health supplements company, which is engaged in the distribution of mushroom-derived products and associated consumer packaged goods. The Company is producing and developing a line of Amanita Muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives, such as promote stress relief, relaxation, and assist with restful sleeping. The Company's subsidiaries include Psyched Wellness Corp., and AME Wellness Inc.

CSE:PSYC - Post by User

Psyched Wellness Ltd

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Post by CYNOSUREon Jan 27, 2011 4:19pm

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Post# 18036882

Red Lake Program Methodical Execution

Synopsis

Nov 30, 2009 - letter of intent of option and JV with Sphere Resources Inc.for the Dome property at Red Lake.

Mar 9, 2010 - enters into an option agreement with Sphere.
May 27, 2010 - starts exploration work at Red Lake.
Sep 15 2010 - NI 43-101 filed with Sedar.
Nov 8 2010 - updated NI 43-101 filed with Sedar.
Jan 5 2011 - letter of intent with Sphere as to the funding of exploration of the expanded property at Red Lake.
Jan 27, 2011 - Sphere ( acknowledging DPH) enters into puchase agreement for Red Lake property with Global.

Lease , Explore, File NI 43-101, Buy property.

Why buy? Unless there is a positive result from the initial exploration phase and that they learned from their Nevada experience.
It is extremely positive for shareholders; this signals that the initial results are positive enough to warrant locking up control of the property assuring future results are shared only by the JV. Thus the Companies and their shareholders are beneficiaries.
The drilling program will move this SP higher.

Of course there are always less optimistic conclusions that can be surmised.

JMHO

Cy