Florida-based cannabis company Kaya Holdings Inc ., AKA KAYS, (OTCQB:KAYS) has been awarded a license by the Oregon Health Authority to operate a Psilocybin Service Center.
Oregon is the only state in the US that has developed a licensing framework that allows for the administration of psilocybin in a safe and legal setting under the guidance of State Licensed Facilitators. KAYS through its Fifth Dimension Therapeutics, Inc. subsidiary, plans to operate The Sacred Mushroom, a full-service psychedelic treatment center that will allow clients to receive psilocybin treatment in a setting offering significant experience differentiators and concept innovations. The Sacred Mushroom expects to service its first guests within the next thirty days.
"The introduction of legal psilocybin treatments in Oregon marks the beginning of perhaps the most disruptive force in the mental health sector, transforming treatment protocol and redirecting resources," stated KAYS CEO Craig Frank. "Our distinctive guest experience model, the environment offered by the size and design of the facility and the dedication of our staff are designed to make The Sacred Mushroom the premier choice for anyone turning to psychedelics for relief or transformation. For these reasons, I believe KAYS is well positioned to become a leader in the 'delivery of care' of psychedelics."
Cannabis and psychedelics sectors sometimes fuse, being similar in terms of both offering natural compounds to help treat various ailments. If you want to learn more about the future of the cannabis industry, join us at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following this link.
Located on the top floor of the historic Falcon Building in downtown Portland and spread over approximately 11,000 square feet, The Sacred Mushroom will offer guests "room to roam,"unsurpassed comfort, optional private rooms, activity zones with yoga, listening stations, journaling chairs and art expression. There will also be a "sensation room," indoor garden and customized experience through its proprietary Synergy By Design "your setting, your way" program.
Psilocybin, a naturally occurring compound found in "magic mushrooms," is one of an emerging class of psychedelic medicines that contain potent psychoactive chemicals that can affect human perception, emotions and other cognitive functions. Recent university medical studies have shown psilocybin treatment to be a potentially effective treatment path for people suffering from trauma, PTSD, depression, anxiety disorders, addictions and other hard-to-treat mental health conditions.
Companies such as Compass Pathways (NASDAQ:CMPS), ATAI Life Sciences (NASDAQ:ATAI), and Cybin (AMEX:CYBN) are engaged in developing synthetic versions of psilocybin and psilocin (the active ingredient in "magic mushrooms") to offer as alternative therapies for treatment-resistant mental health disorders. Delivery of these synthetic psilocybin options, when available, is expected to be administered at licensed psychedelic treatment centers such as The Sacred Mushroom.
Price Action
Kaya Holdings closed Wednesday market session 9.38% lower at $0.043 per share.
Photo: Courtesy of KAYS