- Psyence Group Inc. (PSYG) has launched its functional mushroom brand, "GOODMIND," through a South African-based special purpose vehicle
- The SPV will be responsible for the production, commercialization and sale of GOODMIND functional mushroom products
- The SPV is a 50/50 partnership between Psyence, via its subsidiary Psyence Biomed Corp
- Psyence is also pleased to announce the appointment of Alan Friedman to the Board of Directors
- Psyence Group Inc. (PSYG) is down 15.48 percent and is trading at C$0.36 at 3:14 pm EST
Psyence Group Inc. (PSYG) has launched its functional mushroom brand, "GOODMIND," through a South African-based special purpose vehicle (SPV).
The SPV will be responsible for the production, commercialization and sale of GOODMIND functional mushroom products.
In the future, this will include additional psilocybin-containing products, subject to compliance with all applicable local laws and regulations in the jurisdictions in which the SPV operates.
The primary aim of the SPV is to establish a revenue-generating business by executing on opportunities in the functional mushroom space.
The SPV is a 50/50 partnership between Psyence, via its subsidiary Psyence Biomed Corp, and Southern Sun Pharma Inc's wholly-owned subsidiary, The Goodleaf Company (Pty) Ltd, a private company incorporated in South Africa.
Goodleaf is the leading cannabis brand in South Africa with established distribution lines through retail stores, online, wholesale, and deli and coffee shops.
Psyence is experienced in procurement, manufacturing and logistics.
Both Goodleaf and Psyence intend to leverage their collective knowledge and experience in the functional mushroom space.
Jody Aufrichtig, Co-Founder, President, and CEO, Psyence Group Inc. says,
“We are delighted to partner with the leading Cannabis brand in Africa, Goodleaf, who have a proven track record of successfully launching and distributing high-quality retail and online products."
Warren Schewits, CEO & Founder of Goodleaf added,
“Our experience in developing and launching new consumer products will be invaluable as we make headway in the functional mushroom space."
"There is no doubt that there is a growing demand for wellness products and we are extremely excited to collaborate with Psyence as we launch GOODMIND and also bring a range of functional mushroom products to market," concluded Schewits.
Psyence is also pleased to announce the appointment of Alan Friedman to the Board of Directors.
Alan Friedman is the principal of Bayline Capital Partners, Psyence’s capital market advisor who has recently lead the company through a successful listing on the CSE.
Alan obtained a Bachelor of Commerce and post-grad in Law at UNISA and is an admitted attorney of the High Court of South Africa.
Psyence further announces that Ryan Roebuck has resigned from the Board effective immediately. Ryan helped facilitate the successful RTO of Psyence into Cardinal Capital Partners.
The Psyence Group sets the global standard for natural psychedelics.
The executive team has international experience in the business of science and medicine and includes global experts in palliative care, neurology, neuroscience and drug development.
Psyence Group inc. (PSYG) is down 15.48 percent and is trading at C$0.36 at 3:14 pm EST.