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Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) ("Silo" or "the Company"), a pioneer in psilocybin wellness retreats, is excited to announce its feature this Sunday on a groundbreaking CNN documentary episode of The Whole Story with Anderson Cooper.
The episode, entitled 'Magic Mushrooms: Can They Change Your Mind?' takes an unprecedented step in mainstream media coverage of psychedelic therapies: CNN Correspondent David Culver undergoes psilocybin therapy on camera, providing viewers with a firsthand perspective on the transformative journey. This is a follow-up on Mr. Culver's CNN story featuring Silo Wellness last November.
"We're honored to be part of this monumental moment in mainstream media," said Oregon attorney Mike Arnold, CEO of Silo Wellness. "This isn't just a milestone for Silo Wellness, but for the entire field of psychedelic therapy. It's a significant step towards greater understanding and acceptance."
Silo Wellness, known for its distinctive retreats in the beautiful landscapes of Jamaica with plans in Oregon, is proud to have facilitated this transformative experience. The episode gives the public an intimate view of participants' personal healing journeys under the guidance of Silo's experienced team.
The episode is set to premiere this Sunday, June 18 at 8pm ET/PT. This represents a prime opportunity for potential investors, current shareholders, and the general public to gain an inside look at the innovative work being done at Silo Wellness.
"By showcasing our approach to psilocybin therapy and its profound potential on a platform like CNN, we're playing a part in normalizing and destigmatizing these treatments, creating value for our shareholders and improving the narrative around mental health care," added Arnold.
Other Corporate Updates - Debt Settlement
Silo Wellness intends to issue 11,078,959 shares of its common stock to settle the CAD$166,184.38 account payable debt in an arm's length transaction subject to the statutory four-month hold. The number of shares is determined based on CAD$0.015 per share, the 20-day volume-weighted average price (VWAP) as of Monday, June 12, 2023. Pursuant to CSE Policy 6.2(5) (adopted April 3, 2023), the Company intends to close on the share issuance no sooner than five days. The price protection expires July 22, 2023. In accordance with the previously announced debt restructuring plan, the Company intends to issue shares to settle additional accounts payable and other debt.
Regarding the intended shares for debt announced on April 24, 2023, the Company no longer intends to settle that debt at this time. The parties have agreed to extend the closing of that transaction to contemplate additional opportunities.
For more information about Silo Wellness or to book a Jamaican psychedelic retreat, please visit www.silowellness.com.
Contact:
Mike Arnold, CEO
541-900-5871
IR at Silo Wellness dot com
About Silo Wellness
Silo Wellness's mission is to provide psychedelics to those suffering as quickly and inexpensively as possible. Silo is currently Oregon's only publicly traded company actively providing psychedelics to clients. The Company was founded in 2018 by an Oregon trial lawyer in anticipation of Oregon legalizing psilocybin on January 1, 2023, and currently offers Jamaica psilocybin retreats at an all-inclusive seafront resort. The Company has a right of first refusal on all psilocybin mushrooms with Oregon first-mover cultivator Satya, Inc., and announced in January its intended Portland-area rural psilocybin service center with overnight dorm room accommodations (if land use permits are granted).
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.
In this news release, forward-looking statements relate to, among other things, the ability of Silo Wellness to actually increase or maintain revenue and even stay viable as a public company given the capital and revenue deficiencies previously announced. Obtaining profitability and scaling in Jamaica continues to be an uncertain risk along with accomplishing anything licenses in Oregon and then becoming profitable. 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, potential impacts of COVID-19, uncertainties regarding the finalization of definitive agreements with the property owner, and the risk of commoditization in the psychedelic market. Such risks and uncertainties include, among others, the risk factors included in Silo Wellness's continuous disclosure documents available on 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/169986
