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.

"We're thrilled to celebrate Marley One's official arrival to the metaverse as a leading sponsor of 'For The Love of Hip Hop', a completely virtual concert series featuring a star-studded lineup of artists," said Douglas K. Gordon, CEO of Silo Wellness. "As innovative first-movers in the psychedelics and functional mushroom categories, we're always proud to support future-forward ventures - and the Marley One brand is forever married to music. From psychedelics to virtual reality, Marley One remains at the forefront of cultural moments and community events."

'For The Love of Hip Hop' will bring all the functionality of the metaverse, offering an interactive virtual experience packed with wonderful visuals and sounds for all who attend. This unprecedented way to experience music will bring people together like never before, giving them front-row access to legendary hip hop artists.

The Marley One global mushroom brand was created by Silo Wellness in collaboration with the family of legendary musician Bob Marley in 2021. The initial product offering includes a range of functional mushroom tinctures with unique blends highlighting the brand's connection to Jamaica.

Information regarding the concert series is available at https://fortheloveofhiphopmegastream.com/#home.

For more information about Silo Wellness, please visit https://www.silowellness.com/. To buy Marley One products, please visit https://marleyone.com/.

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 Corporate Information:
Mike Arnold, President/Director
541-900-5871
ir@silowellness.com

CAUTIONARYNOTE REGARDINGFORWARD-LOOKINGINFORMATION: 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 Shares for Debt and the business plans of Silo Wellness. 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113474

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Silo Wellness, Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) ("SILO") has confirmed its intention to acquire all of the issued and outstanding securities of NUGL Inc. (OTC Pink: NUGL) ("NUGL" or "TargetCo") in a transaction valued at CAD $43,289,624.60, subject to the terms and conditions set forth in the binding Letter of Intent executed on August 28, 2023 in an arms-length transaction.

Terms of the Transaction:

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Key Highlights of the Transaction
Under the terms of the agreement, Silo Wellness acquired 25,081,369 shares of NUGL in exchange for the issuance of 15,293,640 shares of Class A common stock in Silo in this arms-length transaction. In accordance with the agreement, both Silo Wellness and NUGL are bound by conditions that prohibit the transfer or sale of purchased shares for a minimum period of 12 months, unless the shares have been properly registered under the Securities Act or are exempt from registration. Pursuant to CSE Policy 6.2(5), the shares will be issued after five business days (see the Form 9 filed on the CSE website) with price protection at the 20-day VWAP of CAD$0.012. There is no finder's fee and shareholder approval is not required due to the size of the transaction.

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Moon Equity Holdings CEO, Frank Ottaviani, stated, "We are pleased to have entered into this agreement with Silo Wellness, and we are looking forward to integrating the BitGift platform into Oregon's psilocybin market and beyond. This technology will provide significant value to Silo and its clients. This transaction is timely for MONI as we've been working to finalize our previously announced acquisition of MONI by an aviation company."

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Highlights:
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A live audio webcast of the panel discussion will be accessible from the "Events" page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following such event. For more information, please visit investor section of compasspathways.com.

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