TORONTO, June 17, 2021 (GLOBE NEWSWIRE) — Silo Wellness Inc. (“Silo Wellness” or “the Company”), a functional and psilocybin mushroom company offering psychedelic wellness retreats, has signed a referral agreement with Entheon Biomedical Corp. (“Entheon”), a biotechnology company focused on developing psychedelic medicines to treat addiction. The agreement aims to drive brand awareness of the Psychedelics Genetic Test kit, developed and commercialized by HaluGen Life Sciences Inc. (a wholly-owned subsidiary of Entheon), and to provide guests at Silo Wellness’ retreats with better access to information about themselves.
Silo Wellness, a publicly traded company on the CSE, operates a consumer-facing platform for the sale of functional mushroom products, cultivates psilocybin mushrooms in Jamaica, and conducts psychedelic wellness retreats in both Jamaica and Oregon. Through the agreement, Silo Wellness will provide referral and marketing services for HaluGen’s Psychedelics Genetic Test, expanding its access and visibility. The test, a first of its kind, identifies specific DNA biomarkers to assess the risk and potential of adverse reactions to hallucinogenic drugs. Users receive personalized reports and actionable insights delivered directly to their smartphones, offering a convenient and safe means to understand their sensitivity to classical psychedelics and ketamine, as well as insights into potential risks such as psychosis.
Entheon Biomedical CEO Timothy Ko expressed enthusiasm for the partnership, stating that increased visibility and access to the Psychedelics Genetic Test through Silo Wellness’ network aligns with their commitment to providing tools and knowledge to help individuals make informed decisions about consuming psychedelics.
Douglas K. Gordon, CEO of Silo Wellness, emphasized the importance of empowering guests with data-informed decisions when participating in psychedelic experiences. He stated that access to information about oneself prior to a session can help address personal anxieties and fears of potential adverse reactions, enhancing the overall retreat experience.
ABOUT SILO WELLNESS
Silo Wellness aims to improve health and wellness by developing and introducing psychedelic medicine to reduce trauma and increase performance. The company focuses on destigmatizing the active compounds in psychedelics, innovating ease of administration and ingestion, and introducing new, safe, and affordable alternatives to current medicines. Silo Wellness conducts ketamine and psilocybin wellness retreats, manufactures and distributes functional mushrooms, and has been involved in the development of functional mushroom tinctures and a metered-dosing psilocybin nasal spray in Jamaica. The company also cultivates psilocybin psychedelic mushrooms in Jamaica. Silo Wellness does not claim that its products cure or mitigate any physical or mental diseases, symptoms, disorders, or abnormalities.
ABOUT ENTHEON
Entheon is a biotechnology research and development company focused on developing and commercializing N,N-dimethyltryptamine-based psychedelic therapeutic products (“DMT Products”) for the treatment of addiction and substance use disorders. Entheon intends to generate revenue by selling its DMT Products to physicians, clinics, and licensed psychiatrists in the United States, select European Union countries, and throughout Canada, subject to obtaining regulatory approvals and permits.
For more information about Silo Wellness, please contact:
Media Relations:
[email protected]
Silo Wellness Investor Relations:
(778) 383-6740
[email protected]
For more information about Entheon, please contact:
Entheon Biomedical Corp.
Joseph Cullen, Investor Relations
Telephone: +1 (778) 919-8615
[email protected]
For Entheon media inquiries, please contact Crystal Quast at:
Bullseye Corporate
Crystal Quast
Telephone: +1 (647) 529-6364
[email protected]
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 applicable Canadian securities legislation. These statements are based on expectations, estimates, and projections as of the date of this news release and involve discussions regarding predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance. Forward-looking statements are not statements of historical fact and may be identified by phrases such as “expects,” “does not expect,” “is expected,” “anticipates,” “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 or occur. These forward-looking statements relate to the referral agreement between Silo Wellness and Entheon, any sales and referrals between the two companies, the growth of the psychedelic sector, and the business plans of Silo Wellness. They are based on estimates and assumptions considered reasonable but are subject to known and unknown risks, uncertainties, and other factors that may cause 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, as well as the potential impact of COVID-19. Silo Wellness assumes no obligation to update forward-looking statements unless required by law. The accuracy of the information provided by Entheon about its activities has not been independently verified by Silo Wellness.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
