Psyched Wellness Is Pleased to Announce That Calm Has Shipped to National Sales and Distribution Partner TruLife Distribution

Toronto, Ontario--(Newsfile Corp. - March 21, 2023) - Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the "Company" or "Psyched"), a life sciences company focused on the production and distribution of health and wellness products derived from the Amanita Muscaria mushroom, is excited to announce they have successfully delivered their first shipment of Calm to TruLife Distribution. 2722 units of Calm have been delivered and will be utilized for pipeline fills within health and wellness retailers, chain accounts, and 3rd party eComm fulfillment. TruLife already works with many of the nation's largest retail banners and Calm can be sold in almost all sales channels.

Jeff Stevens, Psyched Wellness Chief Executive Officer, commented, "Calm is now rolling off the production lines, into distribution houses, and landing at retail locations. Our sales and distribution partners are best in class and we are excited to share the retailer wins over the coming weeks and months! As our partnerships expand, Psyched Wellness takes a big step towards the continuous generator of revenue via our external advocates. Huge thanks to our internal team and the stellar talent at TruLife distribution."

Psyched Wellness will maintain focus on their brick-and-mortar expansion. The company's incredible and widening product assortment, coupled with their uncapped retail universe, should allow for rapid horizontal outlet expansion.

Psyched Wellness will be growing their route-to-market partnerships, throughout the nation. If you are interested in distributing/listing Calm please reach out to sales@psyched-wellness.com.

The Company also announces that it has granted 500,000 Stock Options to certain employees in accordance with the terms of the Stock Option Plan. The Stock Options granted will the vest immediately. The Common Shares underlying the Stock Options are subject to a four month hold period in accordance with the policies of the Canadian Securities Exchange (the "CSE").

Visit https://shop.psyched-wellness.com/ for more information about ordering the product directly.

For further information, please contact:

Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
Tel: 647-400-8494
Email: jstevens@psyched-wellness.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

About Psyched Wellness Ltd.:

Psyched Wellness Ltd. is a Canadian-based health supplements company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The Company's objective is to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category. The Company is in the process of developing a line of Amanita muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the ability of the Company to develop Amanita Muscaria-derived products; the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and (ii) the uses and potential benefits of Amanita Muscaria.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the Company's ability to continue to develop its mushroom-derived products and associated consumer packaged goods; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the continued growth of the Company.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the psychedelics market; risks with respect to the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof; and the risk that there is no potential benefit of Amanita Muscaria consumption.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159222

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