Canadian life sciences company Psyched Wellness Ltd. (OTCQB:PSYCF), producer and distributor of functional health products derived from Amanita Muscaria, is launching an online store.
The company's goal is to create premium mushroom-derived products for the emerging functional food category. Aligned with this strategy, they are currently developing a series of Amanita muscaria-derived water-based extracts, teas and capsules designed to promote stress relief, relaxation and restful sleeping.
As previously reported by Benzinga, Psyched Wellness aims to sell the psychoactive mushroom extract, which has never been scheduled as a drug in the US, this summer.
The online shop will first offer branded merchandise such as t-shirts, hats, hoodies and other accessories. Psyched Wellness intends to test this new purchase modality before launching its extract Calm, the first Amanita Muscaria mushroom extract approved for sale in the US, no prescription is needed.
Calm, a tincture developed to act as a food supplement, is built on Psyched's proprietary amanita muscaria extract AME-1. According to the company, the extraction is key: without a thorough process, the red mushroom would be toxic to eat, which is precisely what Psyched Wellness has patented.
Regarding the online store launch, the company's CCO Matthew Singh commented: "A detailed e-commerce strategy is integral for any modern CPG entity. Ours is designed to scale not only our product but also our brand and awareness of the Amanita Muscaria mushroom. Buying direct from Psyched Wellness will yield multiple benefits for the user, and this is only phase one of our eComm approach, which will include 3rd party sellers as well."
Photo Courtesy of Artem Beliaikin on Pexels.