LAS VEGAS, NV, Jan. 05, 2024 (GLOBE NEWSWIRE) -- PSYC Corporation (OTC Pink Market: PSYC) (“PSYC”, “PSYC Corp” or the “Company”), parent company to Spotlight Media Corporation (“SMC” or the “wholly owned subsidiary”), a multimedia holding company and leading media authority for expanding industries such as medicinal psychedelics, has announced the release of a new video podcast recorded with PSYC CEO, David Flores, on January 2, 2024 for the expressed and intended purpose of providing shareholders with information on the Company’s current state of business.
During the 30+ minute conversation, hosted by Psychedelic Spotlight Director and Producer, Matthew Dunehoo, Mr. Flores candidly details some of the challenges, obstacles, and general uncertainty that PSYC is currently facing as it attempts to move forward as a multimedia-focused company within the psychedelics industry.
The Company wishes to advise those who view and listen to the recording that some of the information, remarks, and opinions covered within it by Mr. Flores may be considered speculative and are covered under the Forward-Looking Disclaimer at the bottom of this press release.
“Given the extremely critical juncture that PSYC is in at present time, I felt it was important to provide our shareholders with as detailed, insightful, and transparent of an update as possible,” said Mr. Flores.
“I understand the frustration and disappointment that many of our shareholders have experienced regarding our lack of communication in recent months, however, the Board and I have attempted to gain as clear and concise of an understanding of all the different factors at play here with the intent of providing the most accurate update possible as provided for in the Company’s video.
I want to be clear in that as of the date of this press release, the Company has not reached any final decisions on any actions that may or may not be taken related to the future operations of PSYC. We continue to diligently assess the viability of a variety of options and solutions that we believe will most reasonably, given the challenges we are faced with, protect the Company, our shareholders, employees, partners, and all other interested parties.
At this time, we can offer no guarantee as to the survivability of PSYC in the weeks and months ahead; only that we are committed to identifying the best and most logical solutions.
I have utilized this recording to the best of my ability to shed as much light and detail on the very specific challenges we are faced with along with my opinions on the value I believe we have developed for the Company over the last 3 ½ years through Psychedelic Spotlight.
I highly recommend that all our shareholders and interested parties take the time to watch and listen to it for informational purposes only.”
The podcast recording with Mr. Flores can be viewed through the following link: LINK TO PODCAST
The Company intends to provide shareholders with additional updates as more information becomes available.
Individuals interested in speaking directly with Mr. Flores may do so by emailing him at: david@psyccorp.com
Citations and Sources from Podcast:
https://www.globenewswire.com/en/news-release/2023/09/12/2741807/0/en/Psychedelic-Drugs-Market-revenue-to-exceed-USD-12-Billion-by-2035-says-Research-Nester.html
https://ir.weedmaps.com/news-releases/news-release-details/wm-technology-inc-reports-first-quarter-2023-financial-results
About PSYC Corporation (OTC Pink Market: PSYC)
PSYC Corporation (the “Company” or “PSYC”) is a forward-thinking multimedia leader for progressive and emerging market sectors such as medicinal psychedelics and cannabis.
Management’s assessment is that through the diversified collection of multimedia platforms the Company owns and operates, and most specifically through the news, information, and engaging content they each produce and publish respectively, PSYC has effectively positioned itself at the forefront of some of today’s most dynamic and opportunity-filled market sectors.
About Spotlight Media Corporation
Spotlight Media Corporation (“SMC”) (www.spotlightmediacreative.com) is a Nevada Corporation and is a privately held wholly owned subsidiary of PSYC that was incorporated on February 8, 2022.
SMC currently owns and operates Psychedelic Spotlight which, according to the Company, has emerged as a recognized industry-leading multimedia platform dedicated to covering the growing movement across society involving psychedelic-assisted healing. Additionally, SMC also operates PSPACE, a psychedelic integration and mental wellness consumer-facing platform being developed to effectively meet the demands linked to the expanding interest and curiosity across society related to the healing and therapeutic wonders of psychedelics and other plant based and holistic modalities.
SMC’s service-focused media platforms include Technical 420, On the Bids, and Mushroom Stocks which each serve publicly traded companies operating in the sectors of cannabis, mining and precious metals, and medicinal psychedelics and have become valuable informational resources for individuals following each of these respective market sectors.
Forward-Looking Statements Disclaimer Applicable to this Press Release and the Company’s Video:
No information contained in this Press Release or the Company’s video should be construed in any way whatsoever as an offer to sell or buy the Company’s securities.
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 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. No information contained in this press release should be construed as any indication whatsoever of the Company’s future, revenues, results of operations or stock price.
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, do so under medical supervision and act responsibly.
Corporate Contact:
PSYC Corporation (PSYC)
www.psyccorporation.com
www.spotlightmediacreative.com
(702) 239-1919
info@psyccorporation.com
OTC PINK MARKET: PSYC
