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  • Psyched Wellness (PSYC) has entered into a service agreement with CannaLabs
  • CannaLabs will perform stability tests on the company’s AME-1
  • CannaLabs will also develop a new testing method for the raw material
  • Psyched Wellness Ltd. is a Canadian-based health supplements company that distributes mushroom-derived products
  • CannaLabs Science Inc. is a Canadian-based, Health Canada licensed analytical laboratory
  • Psyched Wellness Ltd. (PSYC) opened trading at C$0.205 per share

Psyched Wellness (PSYC) has entered into a service agreement with CannaLabs.

Psyched Wellness will use the services of CannaLabs to perform stability tests on the company’s AME-1. The stability tests will help Psyched Wellness to determine the expiration dates and storage conditions for the final product – AME-1.

CannaLabs will also develop a new testing method for the raw material to help differentiate between other species and toxins, thus creating a safe and scientific protocol for acceptable raw material.

All intellectual property and/or operational tools that will be developed during the execution of this service agreement will be the sole property of Psyched Wellness.

“Having CannaLabs working closely on the production side of AME-1 further enhances the product quality and validity ensuring AME-1 is a safe and viable product for human consumption,” said Brian Tancowny Psyched Wellness’s Head of Pre-Clinical Studies.

“We are thrilled to be working closely with Psyched Wellness and leading the analysis of AME-1,” said Liliana Santamaria, Director and Vice President of Lab Operations, CannaLabs.

“After many months of pre clinical trials and other scientific work that is still ongoing, we have great confidence in our AME-1,” said David Shisel COO of Psyched Wellness. “Commencing the stability tests on the AME-1 is a big step that gets us closer to market.”

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. 

CannaLabs Science Inc. is a Canadian-based, Health Canada licensed analytical laboratory. The company’s state-of-the-art lab specializes in analytical testing for the cannabis, natural health products and pharmaceutical industries. Since its inception, CannaLabs has collaborated with numerous clients to develop scientific methods and validations to support product development, test raw materials and finished products, and develop and conduct characterization and stability studies.

Psyched Wellness Ltd. (PSYC) opened trading at C$0.205 per share.

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