Silo Wellness Requests Oregon Property Owner Expressions of Interest for Collaborating on Psilocybin Licensing; Other Corporate Updates

Silo Wellness Requests Oregon Property Owner Expressions of Interest for Collaborating on Psilocybin Licensing; Other Corporate Updates

Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) ("Silo Wellness" or the "Company"), a leading global psychedelics company, announces a request for expressions of interests from Oregon property owners who may be considering participation in the regulatory regime under Oregon Ballot Measure 109. "With Silo Wellness as the only publicly traded psychedelic company with legal psychedelic retreat experience and a strong connection to Oregon, we believe we are well positioned to collaborate with other Oregonians interested in participating in this burgeoning market," stated Silo Wellness founder and Oregon lawyer Mike Arnold.

"Over the past months we have been touring properties with owners and realtors and have really turned up our search for properties that may be suitable for Oregon psilocybin as we await the final rules from the Oregon Health Authority," Mr. Arnold continued. "However, I also know that there are many property owners who may believe they are sitting on an ideal property for a facility with no interest in selling, but they may not have the legal expertise, network, or capital to make it happen. It is our goal to leverage our platform to help empower Oregonians who may each have a piece of the puzzle - facilitation experience, business experience, property, capital, or a passion for the medicine - and bring them together to help make this industry by Oregonians for Oregonians."

Parties who may be interested in entering the Oregon psilocybin industry are encouraged to contact Silo Wellness at oregon@silowellness.com.

Silo Wellness Share Consolidation

The Company is also pleased to announce that its Shareholders at its recent annual meeting have authorized the implementation of a consolidation (the "Consolidation") of the Company's common shares (the "Shares") on the basis of one (1) post-Consolidation Share for every twenty (20) pre-Consolidation Shares, which will become effective on June 20, 2022 (the "Effective Date"). Neither the Company's name, nor its trading symbols, will change as a result of the Consolidation. The Company previously announced on April 14, 2022, of its intent to commence with a share consolidation plan as a condition precedent for the Company's CAD$5,950,000 financing commitment.

The Company currently has 85,364,744 Shares issued and outstanding and 70,234,824 reserved for issuance. Following the Consolidation, there will be approximately 4,268,237 Shares issued and outstanding and 3,806,116 reserved for issuance. No fractional Shares will be issued, and any fraction of a Share will be rounded down to the nearest whole number of Shares. The Shares will trade on a post-Consolidation basis under the new CUSIP #827124207 and ISIN #CA8271242072. The Shares are expected to begin trading on a post-Consolidation basis on the Canadian Securities Exchange when markets open on the Effective Date.

The exercise or conversion price and the number of Shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted upon the effectiveness of the Consolidation.

Shareholders of record as of the Effective Date will receive a letter of transmittal providing instructions for the exchange of their Shares as soon as practicable following the Effective Date. However, shareholders who hold their common shares through a securities broker, dealer, bank or other financial institution will not be required to take any action with respect to the Consolidation and should contact that intermediary for their post-Consolidation positions.

Further details on the Consolidation are contained in the management information circular of the Company previously filed and available under the Company's profile on SEDAR at www.sedar.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 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: SILFF). Silo Wellness offers a diverse and growing portfolio, including psychedelic retreats in Jamaica and Oregon, metered-dosing intellectual property, and the Bob Marley line of functional mushroom products available at www.MarleyOne.com

For more information about Silo Wellness, 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 anticipated effective date of the Share Consolidation 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.

NOT FOR DISTRIBUTION TOUNITED 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/127808

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

Execution of Variation to Facility Agreement with PURE Asset Management, Company to Seek a Sale Transaction

Hydration solutions company The Hydration Pharmaceuticals Company Limited (ASX: HPC) (Hydralyte North America or the Company) advises that today it has signed a variation to its facility agreement with boutique asset manager and existing substantial shareholder PURE Asset Management Pty Ltd as trustee for The Income and Growth Fund (PURE or PURE Asset Management) as previously announced to the market on 17 October 2022 (Original PURE Facility).

Keep reading...Show less

Viemed Healthcare Announces Record 2023 Financial Results

Viemed Healthcare, Inc. (the "Company" or "Viemed") (NASDAQ:VMD), a national leader in respiratory care and technology-enabled home medical equipment services, announced today that it has reported its financial results for the three months and year ended December 31, 2023.

Operational highlights (all dollar amounts are USD):

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
Hand reaching out to healthcare symbols.

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

Latest Press Releases

Related News

×