Life Science News

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with respect to a strategic investment (the "Transaction") with Orthogonal Thinker, Inc. ("Orthogonal Thinker") an arm's length third-party investor, pursuant to which the Company will issue 12,555,180 units of the Company (the "Units") for aggregate gross proceeds to the Company of US$495,000. Each Unit will consist of one common share of the Company ("Common Share") and one Common Share purchase warrant (each, a "Warrant") exercisable for one Common Share at a price per Common Share of C$0.05 for a period of two years after the date of issue. Within 180 days of closing of the Transaction ("Closing"), Orthogonal Thinker will purchase additional Units (or convertible debt) for aggregate gross proceeds of US$505,000 based on the prevailing market price of the Common Shares.

At Closing, it is anticipated that David Nikzad and Jason Hobson of Orthogonal Thinker will join the board of directors of the Company (the "Board"). Additionally, Mr. Nikzad will be appointed Co-Chief Executive Officer and Mr. Hobson will be appointed Chief Operating Officer of the Company.

Douglas K. Gordon, Chief Executive Officer of Silo Wellness, said, "We are very excited to ally Silo Wellness with Orthogonal Thinker. David Nikzad and his team at Orthogonal Thinker have done amazing things and we welcome their strategic advice and industry-leading vision."

David Nikzad, cofounder and Chief Executive Officer of Orthogonal Thinker, said, "We chose to invest in Silo Wellness because of its firm commitment to helping people in need with psychedelics through retreats in Jamaica and the Bob Marley brand partnership. We look forward to advising Silo Wellness on how to best grow Marley One and psychedelic retreats."

Summary of Investor Rights Agreement

Concurrent with the closing of the Transaction, the Company and Orthogonal Thinker will enter into an investor rights agreement (the "Investor Rights Agreement"), pursuant to which Orthogonal Thinker shall be entitled to designate two nominees (each, an "Investor Nominee") for election to the Board and shall be entitled to appoint the Chief Executive Officer of the Company and the Chief Operating Officer of the Company. The Investor Rights Agreement will also provide that Orthogonal Thinker will receive an additional two Investor Nominees for election at the next shareholder meeting of the Company (the "AGM").

For so long as Orthogonal Thinker owns at least 10% of the issued and outstanding Common Shares (on a fully-diluted basis), Orthogonal Thinker will be entitled to certain participation and top-up rights further set out in the Investor Rights Agreement. In addition, the Investor Rights Agreement provides Orthogonal Thinker with certain registration rights with respect to its Common Shares.

Closing Conditions

The Transaction is subject to customary closing conditions and applicable regulatory approvals, including receipt of certain voting support agreements from certain shareholders of the Company with respect to the AGM.

ABOUT Silo Wellness

Silo Wellness is a growth-oriented holding company focused on functional mushroom and psychedelic opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 and headquartered in Toronto, Silo Wellness has operations in Jamaica and Oregon. Silo Wellness is a publicly-traded company on the Canadian (CSE: SILO) and Frankfurt (FSE: CK70) exchanges and trading on the OTCQB Venture Market (OTCQB: SILFF).

Silo Wellness offers a diverse and growing portfolio of functional mushroom products, psychedelic wellness retreats in Jamaica and Oregon, cultivation of psychedelic mushrooms and truffles in Jamaica, development of a brick-and-mortar smart shop in Jamaica, and intellectual property, focused initially on the commercialization of its metered-dosing psilocybin nasal spray.

In March 2021, Silo Wellness announced a multi-year licensing agreement with the family of legendary musician Bob Marley for the exclusive worldwide rights to brand, market and sell a distinct product line of functional and psychedelic mushrooms. The Marley One line of functional mushrooms is available at www.MarleyOne.com.

For more information about Silo Wellness, please visit www.silowellness.com.

For further information, please contact:

Silo Wellness Media Relations:
hello@trailblaze.co

Silo Wellness Investor Relations:
(778) 383-6740
ir@silowellness.com

ABOUT ORTHOGONAL THINKER

Orthogonal Thinker is a holding company focused on health and well-being through clean-label, whole plant products, including psychoactive compounds. Orthogonal Thinker utilizes deep learning technology and emotional intelligence (EI) to elevate and empower humanity with plant medicine to set a new standard for health and mental wellness: a "New Standard of Farma."

Contact Data

Investor Contact:
David Nikzad
david@orthogonalthinker.com

Media Contact:
Samantha Mullett
sam@serotonin.io
(858) 705-2529

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, among other things, to the closing of the Transaction, the appointment of Mr. Nikzad and Mr. Hobson to the Board and as officers of the Company and the Company's future business plans. 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 and the potential impact of COVID-19. 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/112678

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SILO:CNX
Psychedelics Company Silo Wellness Announces Financing Commitment of CAD$5,950,000 in Convertible Debentures

Psychedelics Company Silo Wellness Announces Financing Commitment of CAD$5,950,000 in Convertible Debentures

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, is pleased to announce that Alpha Blue Ocean ("ABO"), is supporting the Company's growth with this new CAD$5,950,000 financing arrangement. The Company entered into a subscription agreement (the "Subscription Agreement") with Global Tech Opportunities 14 (the "Subscriber"), that provides for the issuance of convertible debentures (each, a "Convertible Debenture"). The Company intends to use the proceeds to finance manufacturing of the Marley One brand for an existing purchase order and general working capital purposes. The Subscriber is an investment fund managed by Alpha Blue Ocean ("ABO").

"As a publicly-traded psychedelics company offering psychedelics to guests in Jamaica and functional mushroom products across the U.S. and U.K., we welcome this transaction and the opportunity to work with Alpha Blue Ocean," commented Douglas K. Gordon, Silo Wellness's CEO. "This new capital will allow us to strengthen our balance sheet and focus on shareholder value creation through the expansion of our business model and, most directly, the growth of our Marley One line of functional mushroom products."

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Silo Wellness Announces Successful Launch of 2022 Psilocybin Retreat Schedule and other Corporate Updates

Silo Wellness Announces Successful Launch of 2022 Psilocybin Retreat Schedule and other Corporate Updates

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, today announces several corporate updates.

On February 4, 2022, the Company completed its first Jamaican psilocybin retreat of 2022 entitled "Renew Your Purpose" (see press release of December 16, 2021). This five-day/four-night psilocybin-assisted retreat was centered around purpose and self-reflection with preparation focusing on themes present in author Jessica Huie's book PURPOSE.

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Silo Wellness Inc. Announces: Global Mushroom Brand Marley One Sponsors Metaverse Concert Series 'For the Love of Hip Hop'

Silo Wellness Inc. Announces: Global Mushroom Brand Marley One Sponsors Metaverse Concert Series 'For the Love of Hip Hop'

Virtual concert features Big Boi, Goodie Mob, Ying Yang Twins, Little Scrappy, Young Dro and more

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, today announced Marley One's sponsorship of 'For The Love of Hip Hop' - a virtual concert series exclusive to the metaverse - with the first event of the series being held on February 11. This cutting-edge digital event will kick off with performances from the Ying Yang Twins, Sleepy Brown, Lil Scrappy, Big Boi, Kurupt and more.

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Silo Wellness Appoints CEO Douglas K. Gordon to Board of Directors and Provides Corporation Updates

Silo Wellness Appoints CEO Douglas K. Gordon to Board of Directors and Provides Corporation Updates

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, is pleased to announce that the Company's Chief Executive Officer, Douglas K. Gordon, has been appointed as a director of the company. Mr. Gordon has led the company since 2020, through its pre-listing fundraising and into the public markets in March 2021, focusing on psychedelic retreats in Jamaica and the Marley One line of functional mushroom products. Mr. Gordon is the founder of CanEx Jamaica, the premier cannabis business conference and expo in the Caribbean. He has over 30 years of experience spanning finance, media, sales and marketing. Mr. Gordon has forged a vast global network with particular attention to developing business opportunities in the Caribbean and LATAM. Mr. Gordon has developed government and distribution relations in Jamaica as an experienced operator of a health and wellness distribution business and psychedelic retreats.

Mr. Gordon was the architect behind the launch of the Marley One line of mushroom products in collaboration with the Bob Marley estate. The initial Marley One product offering was launched on the e-commerce store, found at www.MarleyOne.com, and included a range of functional mushroom tinctures with unique blends highlighting the brand's connection to Jamaica. The tinctures include species such as cordyceps, lion's mane, chaga, reishi and turkey tail that offer a range of unique health and wellness benefits, from immunity and gut health to cognitive function and sleep enhancement. Additionally, the Company was approved for listing on Amazon on August 9, 2021. The approval permits the Company to make its five skus available for sale on the Amazon e-commerce website. Expected sales will depend on the sales and marketing plan, which will include marketing expenditure for targeted advertisements on Amazon to boost the profile of the Company's products on the website. This is an addition to and not in lieu of the Company's other sales platforms and opportunities, including the Company's flagship e-store. The Company has also been working with other manufacturers and sampling new functional mushroom food products in various product categories. The Company is also in negotiations with two different beverage manufacturers in two different product categories, which may or may not be successfully consummated. One has advanced to the R&D stage with functional mushroom compounds provided by the Company to the potential partner, and the Company received the first iteration of beverage samples on or about December 3, 2021.

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Silo Wellness Announces Latest Psychedelic Retreat Offerings

Silo Wellness Announces Latest Psychedelic Retreat Offerings

Company adds three new psilocybin-assisted retreats in Jamaica to accommodate increased demand for psychedelic tourism

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or "the Company"), a leading global psychedelics company, today unveiled a new series of psilocybin-assisted wellness retreats for 2022. Set in Jamaica's idyllic Good Hope Villas, located in Trelawny parish, the new retreats follow the successful rollout of Silo Wellness' 2021 retreat offerings, and are designed to accommodate strong demand for psychedelic tourism on the island.

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Nirvana Life Sciences announces filing of Patent for novel isolation of 4-PO-Psilocin Prodrug Compound

Nirvana Life Sciences announces filing of Patent for novel isolation of 4-PO-Psilocin Prodrug Compound

Nirvana Life Sciences Inc. (Nirvana or the "Company") (CSE: NIRV) a western Canadian based life sciences company aimed at developing non-addictive chronic pain and relapse preventing products is pleased to report that it has filed a provisional patent application for a novel process for the isolation of a psychedelic 4-PO-Psilocin compound.

(CNW Group/Nirvana Life Sciences Inc.)

The process, developed by Nirvana's Head of Innovation, Robert August allows for the isolation of 4-PO-Psilocin, a substituted tryptamine and psychoactive prodrug that is produced alongside psilocybin and psilocin.

Its pharmacological effects are virtually identical to those produced by psilocybin since both are prodrugs. Both are metabolized in the human body to produce the psychoactive compound psilocin, which is responsible for the majority of psychoactive effects. The 4-PO-Psilocin can be purified by crystallization to an API. It can also be converted to a biologically active and water-soluble salt to yield a final compound 4-PO-Psilocin with a purity greater than 99%.

The ability to convert the 4-PO-Psilocin compound into a water-soluble salt will change the current landscape of delivery systems in the psychedelic sector. The high rate of bioavailability will lower the required volume of psychedelic compound to achieve the same result. This will substantially increase the efficacy and safety in administering psychedelic compounds in clinical settings.

Mr. Robert August , Nirvana's Head of Innovation and lead Chemist stated "We are very excited to bring this innovation to this stage of development, this will allow us to develop further compounds and delivery systems that can revolutionize the psychedelic sector ". "The Nirvana team is building a strong foundation of research for the development of novel compounds and delivery systems that can apply psychedelics to the treatment of chronic pain and addiction ".

Nirvana Life Sciences Inc. has been founded with a simple objective of researching and developing non-addictive pain management and relapse prevention products that can provide healthier outcomes for patients who live with chronic pain and/or have battled with addiction. Nirvana believes that using naturally sourced psychedelics in novel formulations holds the promise of delivering non-addictive solutions that are effective in managing pain and addiction. Nirvana's team, consisting of leading researchers from around the globe, will develop therapies that have the potential of freeing millions from addiction and saving society billions of dollars annually.

Forward Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward- looking statements") within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions, or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

SOURCE Nirvana Life Sciences Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2022/23/c3898.html

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Emerging Growth Conference 33
Date: WednesdayJune 22nd, 2022
Location: Virtual
Time: 10:00 a.m. - 10:30 a.m. EST
Attend: Register here

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 Nirvana Life Sciences Inc. (Nirvana or the "Company") (CSE: NIRV),  a Canadian based life sciences company focused on developing novel therapeutic products derived from psychedelics to produce non-addictive solutions for opioid addiction treatment and ongoing pain management  is pleased to report that it has filed a new provisional patent application with the United States Patent and Trademark Office entitled Method of Psilocybin Extraction and Method of use of Psilocybin in modulating Heroin and Memory Retrieval (the "Patent Application"). The Patent Application contains new inventive claims for extraction as well as inventive methods for use of Psilocybin to affect relapse and further demonstrates the progress that the Company is making toward developing products that can have a meaningful impact on opioid addiction.

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