Psyched Wellness Ltd. Adds Professor David Nutt to the Board of Directors

Psyched Wellness Ltd. (CSE: PSYC) (OTC Pink: DCNPF) (formerly Duncan Park Holdings Corporation) (the "Company" or "Psyched") a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, is pleased to announce that Professor David Nutt has increased his role and responsibilities with the Company by moving from an Advisory Board position to being a full member of the Board of Directors.

"As a recent pioneer in the field of psychedelic medicine I have long been fascinated by the centuries-old use of Amanita Muscaria. When Psyched Wellness offered me the chance to bring this novel psychedelic mushroom into modern science and medicine, I jumped at it!" said Professor David Nutt.

About Professor David Nutt

David Nutt is a psychiatrist at the Edmond J. Safra Professor of Neuropsychopharmacology in the Division of Brain Science, Dept. of Medicine, Hammersmith Hospital, Imperial College London and is the Chair of the Scientific Advisory Board for COMPASS Pathways. His research area is psychopharmacology - the study of the effects of drugs on the brain, from the perspectives of both how drug treatments in psychiatry and neurology work, and why people use and become addicted to some drugs such as alcohol. To study the effects of drugs in the brain he uses state-of-the-art techniques such as brain imaging with PET and fMRI plus EEG and MEG. This research output has led to over 500 original research papers and a similar number of reviews and books chapters, eight government reports on drugs and 35 books, including one for the general public, Drugs: Without the Hot Air, which won the Transmission Prize in 2014.

He was previously president of the European Brain Council, the British Association of Psychopharmacology, the British Neuroscience Association and the European College of Neuropsychopharmacology. He is currently founding chair of Drug Science and holds visiting professorships at the Open University and University of Maastricht.

David broadcasts widely to the general public both on radio and television. In 2010, the Times Eureka science magazine voted him one of the 100 most important figures in British science, and the only psychiatrist on that list. In 2013 he was awarded the John Maddox Prize from Nature/Sense for standing up for science and in 2017 a Doctor of Laws hon causa from the University of Bath.

"Professor Nutt taking on a full board position demonstrates his confidence in our team and our path forward," said Jeff Stevens, Chief Executive Officer of the Company. "His added role and responsibilities will aid the team as we explore the many scientific opportunities of Amanita Muscaria."

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.

For further information, please contact:
Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
Tel: 647-400-8494
Email: jstevens@psyched-wellness.com
Website: https://www.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.

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This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Psyched Wellness Ltd. current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by Psyched at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties, and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Psyched is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Psyched Wellness Ltd. management's discussion and analysis for the six months ended May 31, 2020 and covering the subsequent period up to July 27, 2020 ("MD&A"), dated July 27, 2020, which is available on Psyched Wellness Ltd. profile at www.sedar.com.

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