TORONTO, June 17, 2021 (GLOBE NEWSWIRE) — Silo Wellness Inc. (“Silo Wellness” or “the Company”) (CSE: SILO) (FRA: 3K70) (OTC: SILFF), a functional and psilocybin mushroom company offering psychedelic wellness retreats, and Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) (“Entheon“), a biotechnology company focused on developing psychedelic medicines to treat addiction, have signed a referral agreement (the “Agreement”) to help drive brand awareness of the Psychedelics Genetic Test kit, developed and commercialized by wholly-owned subsidiary HaluGen Life Sciences Inc. (“HaluGen”), as well as to empower guests at Silo Wellness’ retreats to make informed decisions through better access to information about themselves.
Silo Wellness is a publicly traded company on the CSE with a consumer-facing platform for the sale of functional mushroom products, psilocybin mushroom production in Jamaica, and the facilitation of psychedelic wellness retreats in both Jamaica and Oregon that incorporate a variety of psychedelic-augmented therapies. The intention of the Agreement is for Silo Wellness to provide referral and marketing services for HaluGen’s Psychedelics Genetic Test, representing an opportunity to expand access and visibility for the test, which was launched in the US on June 6, 2021. Silo Wellness will receive compensation on each referral made to HaluGen.
The genetic test, a first of its kind, identifies specific DNA biomarkers in order to gauge the risk and potential of adverse reactions toward hallucinogenic drugs. The test provides users with personalized reports and actionable insights, delivered directly to one’s smartphone, providing a convenient and safe means to better understand an individual’s sensitivity to classical psychedelics and ketamine. The test also provides insights into the short- and long-term potential of psychedelic-induced risks, such as psychosis.
“We’re pleased to be partnering with the innovative team at Silo Wellness who are focused on providing legal access to professionally administered wellness retreats which integrate a variety of psychedelic therapies,” said Entheon Biomedical Chief Executive Officer Timothy Ko. “Increased visibility and access to the Psychedelics Genetic Test through Silo Wellness’ broad network furthers our commitment and ability to provide tools and knowledge to help individuals make informed decisions surrounding the consumption of psychedelics.”
“With this Entheon and HaluGen relationship, we can empower our guests to make data-informed decisions to join us for psychedelic experiences with ketamine and psilocybin and soon, 5-MeO-DMT,” said Silo Wellness Chief Executive Officer Douglas K. Gordon. “It’s all about ‘set and setting’ with our psychedelic retreats, and one’s mindset is affected by their personal anxieties about the medicine and fears of potential adverse reactions. The more opportunity we can give consumers to access information about themselves in advance of a session, the better.
ABOUT SILO WELLNESS
The mission of Silo Wellness is to improve health and wellness by developing and introducing psychedelic medicine to reduce trauma and increase performance by destigmatizing the active compounds in psychedelics and innovating ease of administration and ingestion. Silo Wellness intends to introduce new, safe, and affordable alternatives to current medicines by facilitating entry into new and emerging markets where psychedelics are legal by conducting ketamine and psilocybin wellness retreats and elsewhere by manufacturing and distributing functional mushrooms.
Since inception, Silo Wellness’ activities have focused on: (1) development and sales of functional mushroom tinctures; (2) development of a metered-dosing psilocybin nasal spray in Jamaica; (3) offering ketamine-assisted retreats in Oregon and psilocybin- and 5-MeO-DMT-assisted retreats in Jamaica; and (4) the cultivation of psilocybin psychedelic mushrooms in Jamaica.
For further information on Silo Wellness, please contact:
Lisa Weser, Trailblaze PR
Silo Wellness Investor Relations:
Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products (“DMT Products“) for the purposes of treating addiction and substance use disorders. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.
For more information on Entheon, please contact:
Entheon Biomedical Corp.
Joseph Cullen, Investor Relations
Telephone: +1 (778) 919-8615
For Entheon media inquiries, please contact Crystal Quast at:
Telephone: +1 (647) 529-6364
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. In this news release, forward-looking statements relate, among other things, to: the Agreement, any sales and referrals between Silo Wellness and Entheon, management’s expectation of the growth of the psychedelic sector 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, political and social uncertainties and the potential impact of COVID-19. 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.
All information contained in this news release with respect to Entheon and HaluGen was supplied by Entheon for inclusion herein and Silo Wellness has relied on the accuracy of such information without independent verification.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.