LAS VEGAS, NV, Aug. 31, 2023 (GLOBE NEWSWIRE) -- PSYC Corporation (OTC Pink Market: PSYC) (“PSYC”, “PSYC Corp” or the “Company”), parent company to Spotlight Media Corporation (“SMC” or the “wholly owned subsidiary”), an evolving multimedia holding company and leading media authority for emerging industries such as medicinal psychedelics, is pleased to announce the Company, through its wholly owned subsidiary, Spotlight Media Corporation, has completed the acquisition of the Stock Day Media platform from La Jolla Media, LLC. The deal, which is effective September 1, 2023, is valued at $500K and will be satisfied by the Company through a combination of cash and stock distributions over the course of the next 12 months and contingent upon the achievement of specific net revenue targets mutually established between the Company and Stock Day Media.
The acquisition follows the formation of a strategic partnership between the Company and Target Media that was announced on August 29, 2023 and which, according to the Company, played a strategic role in providing the Company with the initial financing required to execute this acquisition.
Founded in 2013, Stock Day Media has become one of the fastest growing media outlets for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Stock Day Media provides companies with customized solutions to their news distribution in both national and international media outlets.
The Stock Day Media website contains over 500 hours of resourceful digital content that includes approximately 1,500 podcast episodes published to Audioboom and an estimated 2,000 podcast episodes published to its website.
The Company believes there may be an opportunity to leverage the respective service offerings and brand authorities provided by Stock Day Media along with its existing investor awareness-focused platforms such as Technical 420, On the Bids, and Mushroom Stocks to increase its market share within the investor awareness and public relations sectors and to develop this arm of its business operations into a more prominent revenue driver for PSYC.
“We are at a stage in the evolution of PSYC where monetizing our assets and developing a solid and steady revenue model that is pragmatically capable of contributing to our objective of reconstructing our balance sheet is of paramount importance,” said PSYC CEO, David Flores.
“Over the past 3 plus years, I have had the privilege of working with Everett Jolly and the amazing Stock Day Media team and have witnessed firsthand the incredible value their platform can deliver to companies in the public arena. I believe that integrating their platform beneath the evolving PSYC umbrella of multimedia assets represents a huge opportunity for the Company’s current and future value proposition.
As highlighted in our press release earlier this week (PSYC Enters Strategic Partnership with Target Media to Help Accelerate Audience and Revenue Growth Opportunities), the Company has increased its year-over-year revenue earnings by nearly 94%. This has primarily been a result of our acquisition of Technical 420 and On the Bids last September which are platforms geared towards servicing companies in the public markets. With Stock Day Media being a platform that is currently producing sales-related revenue, we can reasonably anticipate for it to have an immediate and positive impact on our bottom line right out of the gate and hopefully build on this revenue growth in the months ahead.
Additionally, the board and I are also confident that we have structured this acquisition prudently and in a manner that we believe is friendly and advantageous to our shareholders and our ongoing operations budget by minimizing, to the extent possible, dilution, as well as preserving our cash-on-hand by ensuring that future cash payments are tied directly to the achievement of specific net revenue-related milestones.
We would also like to thank our new partners at Target Media who played an instrumental role in helping to make this acquisition possible through a strategic loan financing agreement that they made available to the Company earlier this month.
This, in my opinion, is a clear example of the tremendous value the Target Media team is actively delivering to PSYC and how they are committed to working with us on helping to place the Company on viable a path to becoming a formidable multimedia powerhouse.”
Stock Day Media Founder and CEO, Everett Joly, shared his thoughts on joining the PSYC team: “Stock Day Media is excited about the opportunity to join PSYC Corporation who has been a long-standing client and recurring guest on our show over the past several years.
In the last few years alone, Mr. Flores and his team have made wonderful progress with developing PSYC Corp into a leading media authority for the psychedelics and cannabis sectors. And I believe that by bringing our Stock Day Media platform into their business model, we are helping to build off of this progress and are helping to create a more dynamic and results-driven model that will ultimately contribute to and enhance the monetization capabilities of every platform under their umbrella.
I am also looking forward to the opportunity that I believe this will present for us to expand Stock Day Media’s existing business model and to focus on growth-related strategies designed and intended for us to capture a larger and more significant market share in the months ahead.”
About PSYC Corporation (OTC Pink Market: PSYC)
PSYC Corporation (the “Company” or “PSYC”) is a forward-thinking multimedia leader for progressive and emerging market sectors such as medicinal psychedelics and cannabis.
Management’s assessment is that through the diversified collection of multimedia platforms the Company owns and operates, and most specifically through the news, information, and engaging content they each produce and publish respectively, PSYC has effectively positioned itself at the forefront of some of today’s most dynamic and opportunity-filled market sectors.
About Spotlight Media Corporation
Spotlight Media Corporation (“SMC”) (www.spotlightmediacorp.com) is a Nevada Corporation and is a privately held wholly owned subsidiary of PSYC that was incorporated on February 8, 2022.
SMC currently owns and operates Psychedelic Spotlight which, according to the Company, has emerged as a recognized industry-leading multimedia platform dedicated to covering the growing movement across society involving psychedelic-assisted healing. Additionally, SMC also operates PSPACE, a psychedelic integration and mental wellness consumer-facing platform being developed to effectively meet the demands linked to the expanding interest and curiosity across society related to the healing and therapeutic wonders of psychedelics and other plant based and holistic modalities.
SMC’s service-focused media platforms include Technical 420, On the Bids, and Mushroom Stocks which each serve publicly traded companies operating in the sectors of cannabis, mining and precious metals, and medicinal psychedelics and have become valuable informational resources for individuals following each of these respective market sectors.
Forward-Looking Statements Disclaimer:
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
www.spotlightmediacorp.com
(702) 239-1919
info@psyccorporation.com
OTC PINK MARKET: PSYC
