LAKE OSWEGO, OR, March 29, 2022 (GLOBE NEWSWIRE) -- PSYC Corporation (OTCPink: PSYC) (“PSYC” or the “Company”) a media leader for the emerging sector of medicinal psychedelics and authorities behind Psychedelic Spotlight, a top ranking psychedelic news and information platform, is pleased to announce the Company successfully secured $350,000 in equity-based financing.
Pursuant to the terms of the investment, a total of 17,500,000 shares of PSYC common stock were sold at a price of $0.02 per share and include warrant options for the right to purchase up to an additional 20M shares over the next 12 months. The investment was completed by Trent Sullivan of Jackson, Tennessee and is a private, accredited investor.
“We are incredibly grateful to Mr. Sullivan for the resounding faith he is demonstrating in the future of PSYC by way of this investment,” said PSYC CEO, David Flores. “Much of the intent here is to leverage the use of this financing to aid in the advancement of certain initiatives, such as commencing with the audit of our 2021 financials, expanding our monetization strategies related to Psychedelic Spotlight, and continuing to explore diversification opportunities for Spotlight Media Corp. We also believe this should be viewed as a very important strategic shift for the Company to a more equity-based capital structure, particularly as we begin to ramp things up with our corporate development efforts. Our success in securing this investment reinforces our commitment to PSYC’s long-term vision and strategy, on which we continue to execute, for the benefit of our shareholders.”
Newly minted PSYC CFO, Craig Schlesinger, added, “Our ability to secure equity financing despite these current market conditions is a message to the psychedelics community that we’re here to stay, and we’re just getting started. This quarter we’ve seen psychedelic companies with product risk and in ancillary media fold; however, we continue to build an organic, grass roots shareholder movement. We still face a long road ahead with plenty of challenges, but we’re excited to enter this new phase of equity financing to bolster our performing assets, while developing and diversifying our portfolio in the psychedelic & digital media sectors. Mr. Sullivan recognizes and shares our team’s vision, and we’re grateful for his confidence in PSYC’s long term growth and value.”
About PSYC Corporation (OTCPink: PSYC)
At PSYC Corporation we are integrating media, creativity, and technology to develop and deploy thought-provoking ideas and solutions that are fostering and transforming the approach to some of society’s most pressing matters.
PSYC has expressed its intent and commitment to positioning itself at the forefront of the psychedelic revolution and as a resource center for discovering and understanding the latest research and business opportunities surrounding psychedelic inspired medicines. In conjunction with the FDA’s more open-minded approach to psychedelic medicines, and as several major U.S. cities continue to approve the decriminalization of psilocybin, we believe investors are speculating that the psychedelic boom could be bigger than that of cannabis. PSYC is your source for current investment related news specific to psychedelic medicines and cutting-edge research improving overall health, moving this sector into the mainstream.
We are dedicated to a forward-thinking approach that embraces groundbreaking new technology and innovations and through the vision of business development we intend to continue to evolve into these unchartered territories as the industry leaders of the future.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors, including the effect of COVID-19 and the success of the current vaccine distribution, the adverse effect of the Omicron variant, that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website and is not incorporated by reference into such reports.
Disclaimer: PSYC Corporation does not in any way encourage or condone the use, purchase, sale or transfer of any illegal substances, nor do we encourage or condone partaking in any unlawful activities. We support a harm reduction approach for the purpose of education and promoting individual and public safety. If you are choosing to use psychedelic substances, please do so responsibly.
Corporate Contact:
PSYC Corporation (PSYC)
www.psyccorporation.com
(702) 239-1919
info@psyccorporation.com
OTCPINK: PSYC
