LAS VEGAS, NV, June 29, 2022 (GLOBE NEWSWIRE) -- PSYC Corporation (OTCPink: PSYC) (“PSYC” or the “Company”) a media leader for the emerging sector of medicinal psychedelics and authorities behind Psychedelic Spotlight, a top ranking psychedelic news and information platform, is pleased to announce that following the review of information provided to the Company and its audit firm, M&K CPA’s, by The Conscious Fund’s (“TCF”) financial accountants, the Company’s initial $125K investment into TCF’s portfolio of psychedelic-focused companies made in January 2021, has earned an unrealized gain of nearly 30% as of early June 2022.
The Company and its audit firm are currently in the process of incorporating this data and information into the audit of the Company’s 2021 financials, which, according to the Company, is moving closer to completion.
PSYC CFO Craig Schlesinger touted the results, stating, “Our strategic investment in TCF already provided PSYC with valuable leverage to the dynamic growth of medicinal psychedelic companies during suboptimal macro and micro market conditions. We believe these early results in the face of economic adversity are a mere portend of the sector’s durability and longevity.”
“Considering the enduring challenges facing the medicinal psychedelic sector over the past several months, we’re quite encouraged by and pleased with the fact that our TCF investment currently stands at an unrealized gain of nearly 30%,” said PSYC CEO David Flores. “We viewed this as a long-term investment with potential to earn a sizable return for PSYC over the next few years at a rate consistent with the sector’s growth from the very start. Despite the market's insistence on, in our opinion, significantly undervaluing the medicinal psychedelic sector, we remain as optimistic as ever in the long-term growth & value potential present within this space.”
Flores concluded, “Strategic investments like TCF demonstrate PSYC’s approach to diversifying our short and long-term assets with the very clear intent of returning maximum value back to our shareholders in the most reasonable and effective time frame possible.”
About PSYC Corporation (OTCPink: PSYC)
At PSYC Corporation we are integrating media, creativity, and technology to develop and deploy thought-provoking ideas and solutions that are fostering and transforming the approach to some of society’s most pressing matters.
PSYC has expressed its intent and commitment to positioning itself at the forefront of the psychedelic revolution and as a resource center for discovering and understanding the latest research and business opportunities surrounding psychedelic inspired medicines. In conjunction with the FDA’s more open-minded approach to psychedelic medicines, and as several major U.S. cities continue to approve the decriminalization of psilocybin, we believe investors are speculating that the psychedelic boom could be bigger than that of cannabis. PSYC is your source for current investment related news specific to psychedelic medicines and cutting-edge research improving overall health, moving this sector into the mainstream.
We are dedicated to a forward-thinking approach that embraces groundbreaking new technology and innovations and through the vision of business development we intend to continue to evolve into these unchartered territories as the industry leaders of the future.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors, including the effect of COVID-19 and the success of the current vaccine distribution, the adverse effect of the Omicron variant, that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website and is not incorporated by reference into such reports.
Disclaimer: PSYC Corporation does not in any way encourage or condone the use, purchase, sale or transfer of any illegal substances, nor do we encourage or condone partaking in any unlawful activities. We support a harm reduction approach for the purpose of education and promoting individual and public safety. If you are choosing to use psychedelic substances, please do so responsibly.
Corporate Contact:
PSYC Corporation (PSYC)
www.psyccorporation.com
(702) 761-6716
info@psyccorporation.com
OTCPINK: PSYC
