Psyched Wellness increases previously announced bought deal placement

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THIS PRESS RELEASE IS FOR DISTRIBUTION IN CANADA ONLY AND MAY NOT BE DISTRIBUTED IN THE UNITED STATES OR THROUGH THE UNITED STATES NEWS SERVICES.

Toronto, Ontario, 25. Januar 2021 – Psyched Wellness Ltd. (CSE: PSYC, OTCQB: PSYCF, FRANKFURT: 5U9) (the “Companies“Or”Psyched“) – a life science company that specializes in the manufacture and distribution of artisanal functional and psychoactive mushrooms – is pleased to announce that the company has decided to reduce the placement volume of the previously announced bought deal Private placement led by Canaccord Genuity Corp. (the “Lead Underwriter“) To increase.  The  lead underwriter has signed up on behalf of a consortium of underwriters (together the “Underwriter“) Agreed to acquire a total of 17,750,000 units of the company (the”units“) At a price of CAD 0.31 per unit (the”Issue price“) To buy, giving the company total gross proceeds of $ 5,502,500 bring int (the “placement“).

Each unit consists of one common share of the company (a “Common stock“) And a common stock purchase warrant (a”Warrant”). Each warrant entitles the holder to purchase one common share at an exercise price of $ 0.43 within 36 months of the completion of the placement. © www.de24.news The  Company reserves the right to bring the exercise date forward for the warrants if, after four months and one day after the closing date, at any time, the volume-weighted average daily price of the common stock on the Canadian Securities Exchange for five consecutive trading days shows a value of over CAD 0.70.

© www.de24.news

 The  company gave the underwriters an option (the Over-allotment option“) For the purchase of up to 3,550,000 additional units at the issue price, which can be exercised at any time within 30 days of the closing date. This would generate additional revenue of $ 1,100,500 for the company.

© www.de24.news

 The  underwriters are to be paid a commission in cash or in the form of units equivalent to 7% of the gross proceeds from the placement. In addition, the underwriters receive warrants from the company, which entitle them to purchase units (the “Underwriter-Warrants“), in fact in value of the equivalent of 7% of the number of units sold as part of the placement. Each underwriter warrant can be exchanged for one unit at the issue price within 36 months of the placement being completed.

Proceeds will be used to fully fund the preclinical studies of our Amanita Muscaria Extract, AME-1, for further scientific research into AME-1 and its potential benefits for people with serious mental and physical illnesses, as well as for general operational purposes .

© www.de24.news

 The  securities offered in connection with the placement were not or will not be made pursuant to the US Securities Act of 1933, as amended (the “U.S. Securities Act“) Or registered under the applicable securities laws in the respective US states and may not be offered or sold in the United States, not even to citizens of the United States or for their account or for their benefit, unless registration or an applicable one Exemption from registration under the US Securities Act and applicable state securities laws. This press release does not constitute an offer or offer in the United States or in any other jurisdiction Sale would constitute an offer to sell or an offer to buy these securities.

In addition, the company has commissioned the following external service providers to provide services:

Winning Media Group – $ 100,000 in online traffic and PR

Generation IACP Inc – CAD 39,000 for a 6 month contract to provide trading services

HE Capital Markets – $ 15,000 for a 3 month contract for IR campaigns on Investorshub

Further information is available from:

Jeffrey Stevens

Chief Executive Officer

Psyched Wellness Ltd.

Tel: 647-400-8494

E-mail: [email protected]

Internet: http://www.psyched-wellness.com

THE CANADIAN SECURITIES EXCHANGE AND ITS REGULATORY BODIES HAVE THE ADEQUACY OR THE ACCURACY OF THIS REPORT HAVE NOT BEEN VERIFIED AND ASSUMED NO RESPONSIBILITY IN ITS RELEASE.

About Psyched Wellness Ltd.:

Psyched Wellness Ltd. is a Canada-based nutritional supplement company dedicated to the distribution of mushroom-based products and associated packaged consumer products. © www.de24.news

 The  company’s goal is to manufacture premium quality mushroom products that have the potential to develop into a leading North American brand in the new functional food product category. © www.de24.news

 The  company is currently working on the development of water-based extracts, teas and capsules made from the fly agaric (Amanita muscaria) that serve three health goals: reducing stress, relaxing and supporting a good night’s sleep.

Cautionary note regarding forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements relating to the offering and the use of the proceeds from the offering. In general, forward-looking information can be identified by using forward-looking terms such as “plans”, “expected”, “does not expect”, “is expected”, “budgeted”, “planned”, “estimates”, ” predicts ”,“ intends ”,“ does not intend ”,“ believes ”or modifications of such terms and phrases or on the basis of statements according to which certain actions, events or results“ can be implemented ”or“ may occur ”,“ could ”,“ would ”or“ will ”. Forward-looking information is subject to known and unknown risks and uncertainties, as well as other factors that could cause the actual results, activities, performance, or achievements of the company, as the case may be, to differ materially from those expressed directly or in the forward-looking information indirect expression were brought. While the company has attempted to identify important factors that could cause actual results to differ materially from those in the forward-looking information, there may also be other factors that lead to results that are not believed, estimated or intended. © www.de24.news

 The re can be no guarantee that such information will turn out to be truthful. Actual results and future events could differ materially from such statements. Readers are cautioned not to place undue reliance on forward-looking information. © www.de24.news

 The  company does not intend to update any forward-looking information unless required by applicable securities laws.

THE CANADIAN SECURITIES EXCHANGE AND ITS REGULATORY BODIES HAVE THE ADEQUACY OR THE ACCURACY OF THIS REPORT HAVE NOT BEEN VERIFIED AND ASSUMED NO RESPONSIBILITY IN ITS RELEASE.

This press release does not constitute an offer to sell or an offer to buy the securities in the United States. © www.de24.news

 The  company’s securities will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) and may not be offered or sold in the United States or to or for the account of any US person, except in certain transactions that are exempt from the registration requirements of the US Securities Act.

© www.de24.news

 The  source language (usually English) in which the original text is published is the official, authorized and legally valid version. This translation is included for better understanding. © www.de24.news

 The  German version can be shortened or summarized. No responsibility or liability is assumed for the content, correctness, appropriateness or accuracy of this translation. From the perspective of the translator, the message does not constitute a buy or sell recommendation! Please note the original English message on www.sedar.com, www.sec.gov, www.asx.com.au/ or on the company website!

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https://boerse-social.com/2021/01/25/psyched_wellness_erhaht_bereits_angekandigte_bought-deal-platzierung

Psyched Wellness increases previously announced bought deal placement

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