Silo Wellness Organizes Jamaican Psilocybin Retreat Team and Advocates to Speak to Lane County  Commissioners Regarding BM109 Optout Vote; Lane County Declines to Refer a Psilocybin Ban to Voters

Silo Wellness Organizes Jamaican Psilocybin Retreat Team and Advocates to Speak to Lane County Commissioners Regarding BM109 Optout Vote; Lane County Declines to Refer a Psilocybin Ban to Voters

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFD) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, is pleased to announce that the Silo Wellness team coordinated the presentations of eight speakers in support of psilocybin use under Ballot Measure 109 in Lane County, Oregon, (Oregon's largest county by population outside the Portland metro area) at Tuesday's public board of commissioners meeting.

"It is important that Silo Wellness help support the education of local governments and law enforcement, as we are the only Oregon-based publicly traded psychedelics company and the only Oregon-based company with experience providing legal psilocybin use [in Jamaica] through our psychedelic wellness retreats," stated Silo Wellness founder, a Lane County, Oregon, resident since 1998. "We want to prevent any misinformation comparing the roll out of this service-based wellness industry to any perceived mishaps from Oregon's experience in the cannabis space, particularly regarding diversion and impact on neighbors." In written testimony provided to the Board, Mr. Arnold explained that currently Silo Wellness is in advanced negotiations with property owners outside of unincorporated Lane County and didn't technically "have a dog in this fight" at this time.

On Monday, the Lane County Board of Commissioners placed on Tuesday's agenda potential actions on Ballot Measure 109, including the possibility of referring an "optout" ballot measure to the voters, who already voted 60% in favor of Oregon's regulated psilocybin program in 2020. After the Silo team's public comment, Springfield commissioner Joe Berney stated, "I was really persuaded by the testimony this morning from public comment. I was persuaded by compassionate use that this is therapy, and the regulatory framework is being developed." He went on to explain that he was on the side of "'doing nothing [to prevent implementation of BM109] as the voters of Lane County requested." Thereafter, the commissioners unanimously declined to refer this issue to a vote and instead requested that staff provide a report on potential time, manner, and use restrictions.

Silo Wellness organized seven additional experts and advocates in the psychedelic space including: Dr. Joshua Siegel, M.D., Ph.D, of Washington University's Program in Psychedelic Research in St. Louis, Missouri; Dr. Parag Bhatt, Ph.D., of St. Louis, pharmacologist and Silo Wellness's retreat intake coordinator; Josh Wilson of St. Joseph, Missouri, Silo's retreat customer success manager; Frank Cartwright, of London, U.K., impact investment manager and mental health advocate; Greg Biniowsky, a Vancouver, British Columbia lawyer and a Silo independent board member and audit committee member; Heather Lee of Colorado, a licensed social worker (Colorado/Oregon) and psychedelic practitioner with emphasis in cancer/end-of-life issues; and Nimi Gandhi, of Miami, Florida, marketing/creative specialist and ADHD/anxiety psilocybin success story.

The presentations to the Board were educational and impactful. Dr. Siegel explained that psilocybin is not physically addictive and has little risk of toxicity. He stated that caffeine is an order of magnitude of 10 more toxic than psilocybin, and alcohol is 100 times more toxic than psilocybin. Dr. Bhatt and Josh Wilson both discussed their experiences interacting with Silo Wellness psilocybin retreat participants and how lives are changed positively. Mr. Biniowsky commented on how he started off as a skeptic seeing "magic mushrooms" as a recreational drug but has been blown away by the scientific research and from what he has seen in his role as an advisor to Silo's retreat team, focusing on regulatory compliance and best practices.

Heather Lee gave a passionate and impactful personal story of psilocybin and how she came to terms with her recent breast cancer diagnosis. Ms. Gandhi gave a personal anecdote of how psilocybin can assist with adult ADHD and anxiety symptoms. Frank Cartwright referenced his own personal transformation through psilocybin and how it had changed his business practice to focus on societal impact and mental health. He reiterated the importance of Silo's current retreat protocols creating a safe, sustainable and accessible container for seekers of this medicine.

Mr. Arnold explained in his statement that the typical retreat has about as much community impact as a group of yoga practitioners. He concluded his written comments with this testimonial from Christopher, a Silo Wellness Jamaican psilocybin retreat participant: "These experiences and interactions have set me on a new trajectory in life. I know my place in this universe, and I owe it to every single person who made it happen."

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 a presence in both 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: SILFD).

For more information about Silo Wellness or to book a Jamaican psilocybin retreat, please visit www.silowellness.com.

Silo Wellness Company Contact:

Mike Arnold, President
541-900-5871
ir@silowellness.com

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. Forward-looking information may relate to anticipated events or results including, but not limited to the Company successfully launching operations in Oregon under Ballot Measure 109, 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/130712

News Provided by Newsfile via QuoteMedia

SILO:CNX
The Conversation (0)
Silo Wellness Announces LOI to Acquire NUGL/Kaya in a Transaction Valued at CAD $43,289,624.60; CSE to Halt Trading Until Shareholder Approval

Silo Wellness Announces LOI to Acquire NUGL/Kaya in a Transaction Valued at CAD $43,289,624.60; CSE to Halt Trading Until Shareholder Approval

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:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Jamaica Based Kaya Group Forges Partnership with Silo Wellness for Psychedelic Wellness Experiences and Retreats; Announces Share Exchange Agreement

Jamaica Based Kaya Group Forges Partnership with Silo Wellness for Psychedelic Wellness Experiences and Retreats; Announces Share Exchange Agreement

Kaya Group ("Kaya" or "the Company") (OTC: NUGL), the first medicinal Ganja herb house in the Caribbean and holistic, wellness-focused ecosystem, announced today a strategic partnership with Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) ("Silo"), a pioneer in the psychedelic and wellness space, to offer a comprehensive range of incomparable psychedelic wellness experiences and retreats in Jamaica. The partnership combines Kaya's three Kaya Herb House retail locations and Gap Café wellness center with Silo's expertise in managing psilocybin wellness retreats in Jamaica's legal psilocybin market.

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.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Milestone in Psychedelic Wellness: Silo Wellness and NUGL's  Share Exchange Paves Way for Expansion and Collaboration

Milestone in Psychedelic Wellness: Silo Wellness and NUGL's Share Exchange Paves Way for Expansion and Collaboration

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) ("Silo" or "the Company"), a pioneer in the psychedelic and wellness space, and NUGL Inc. (OTC Pink: NUGL), a multifaceted Jamaican cannabis and psychedelics lifestyle company, are thrilled to announce a strategic partnership through Kaya Group to bring a comprehensive range of psychedelic wellness experiences and retreats in Jamaica. This partnership, executed August 2, 2023, entails a significant transaction that underscores the strategic value of this collaboration.

Key Highlights of the Transaction

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Can Psilocybin / Oregon's Silo Wellness "Change your Mind?" - Anderson Cooper's CNN Documentary with Journalist Tripping on Camera this Sunday; Debt Settlement Updates

Can Psilocybin / Oregon's Silo Wellness "Change your Mind?" - Anderson Cooper's CNN Documentary with Journalist Tripping on Camera this Sunday; Debt Settlement Updates

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Moon Equity Holdings to Sell BitGift Asset to Silo Wellness in Exchange for a Dividend

Moon Equity Holdings to Sell BitGift Asset to Silo Wellness in Exchange for a Dividend

Via NewMediaWire Moon Equity Holdings Corp. ("MONI" or "the Company") (OTC: MONI) has signed a binding letter of intent ("LOI") to divest its BitGift asset to Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A), an Oregon-based psychedelics company, for a sum up to CAD$500,000. At closing, MONI plans to allocate the Silo shares as a dividend to MONI existing shareholders, based on a record date to be determined by FINRA.

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."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Hydralyte

Appendix 4E – Preliminary Final Report

Hydration solutions company, The Hydration Pharmaceuticals Company Limited (ASX: HPC) (“Hydralyte North America” or “the Company”), is pleased to report on its activities and cash flows for the 12 months ending 31 December 2023 (FY2023).

Keep reading...Show less
Doctor with Canadian flag.

Healthcare Stocks: 5 Biggest Companies in 2024

Healthcare is one of the world's most critical sectors, and healthcare stocks offer an opportunity to invest in companies that are making a difference in people’s lives while also providing a steady stream of returns.

Healthcare companies operate in a highly competitive, highly regulated environment. Often at the forefront of innovation in medicine and healthcare technology, the sector has seen a boom of activity in recent years, driven in part by advancements in technology, namely artificial intelligence, machine learning and quantum computing.

Here the Investing News Network has rounded up the biggest healthcare stocks by market cap. Data was collected using TradingView’s stock screener and was accurate as of February 7, 2024.

Keep reading...Show less
Hydralyte

Q4 FY23 Quarterly Report and Appendix 4C: Net Cash Used in Operating Activities Down 56% YoY to Record Low

Hydration solutions company The Hydration Pharmaceuticals Company Limited (ASX: HPC) (“Hydralyte” or “the Company”) is pleased to provide the following update on its operational and financial performance for the three-month period ended 31 December 2023 (the “quarter”).
Keep reading...Show less
  Tryp Therapeutics Inc

Tryp Therapeutics Announces First Patient Dosed in Phase 2a Clinical Trial for the Treatment of Fibromyalgia at The University of Michigan

Tryp Therapeutics Inc. ("Tryp" or the "Company") (CSE:TRYP), a clinical-stage biotechnology company focused on developing intravenous-infused psilocin (the active metabolite of psilocybin) for diseases with high unmet medical needs,is pleased to announce that the first patient has been dosed in a Phase 2a clinical trial being conducted by the University of Michigan in a collaboration with Tryp Therapeutics. The clinical trial is evaluating Tryp's TRP-8802 in patients with fibromyalgia.

Keep reading...Show less
Emyria Limited

Emyria’s Specialist Psychiatrist Granted Authorised Prescriber Status in MDMA-Assisted Therapy for PTSD

Emyria Limited (ASX: EMD) (“Emyria”, or the “Company”) focused on delivering and developing new treatments for mental health and select neurological conditions, is pleased to announce the Company’s distinguished psychiatry specialist has been granted "Authorised Prescriber" status by the Therapeutic Goods Administration (TGA). The authorisation enables the prescribing of MDMA according to an ethics committee endorsed care model developed by Emyria 1 and within the strict regulatory framework established by the TGA for the treatment of Post-Traumatic Stress Disorder (PTSD). 2

Keep reading...Show less
  BPH Global Ltd

Sale of Platform in East Johor Strait

Further to previous announcements made by the Board of BPH Global Ltd (ASX: BP8) (Company) regarding its strategic review of the Company’s seaweed operations, the Board is pleased to announce that the Company has entered into an agreement for the sale of the floating platform in the East Johor Strait.

Keep reading...Show less

Latest Press Releases

Related News

×