PSYC Executes MOU With Digital Mental Health Startup, PsycheDev Inc.
December 29 2020 - 8:30AM
InvestorsHub NewsWire
PSYC Executes MOU With Digital Mental Health Startup,
PsycheDev Inc.
PSYC Aims to
Co-Develop Digital Mental Health Platform Through JV
Partnership
LAS VEGAS, NV --
December 29, 2020 -- InvestorsHub NewsWire --
Global
Trac Solutions, Inc. (OTCPink:
PSYC) (“Global” “PSYC” or the “Company”) a digital media leader
within the emerging sector of medicinal
psychedelics, is pleased to
announce that the Company has entered into a Memorandum of
Understanding (“MOU”) with PsycheDev Inc. (“PsycheDev”), a
Canadian based start-up company focused on the development and
deployment of technology-driven mental wellness-enhancing
solutions.
In effect, the execution of the MOU
outlines the general terms to be applied by each of the respective
companies in entering into advanced discussions surrounding the
intended establishment of a Joint Venture Partnership Agreement
(the “JV”) which will focus on the effective co-development and
launch of the PsycheDev platform and app. Furthermore, it is the
intent of PSYC, via the anticipated execution of a JV, to acquire
an equity stake in PsycheDev through a capital investment and to
work alongside the company’s Founder and CEO, Justin Roy, to bring
their cutting-edge digital mental health platform to market during
the latter quarters of 2021. No assurances can be provided
that the JV will be consummated or that the underlying business
will be profitable.
“We are extremely pleased to advance our
discussions with PsycheDev through the execution of this MOU,” said
Global Trac Solutions, Inc. CEO, David Flores. “Our collective
focus over the next several days will be to meticulously work
through the process of finalizing a JV Partnership Agreement with
them so that we can formally begin collaboration efforts. In my
opinion, this represents a unique, exciting, and value-driven
opportunity for PSYC to collaborate on the development of this
highly intriguing early-stage concept and position ourselves to
enter the burgeoning sector of digital mental
health.”
“We are very glad to collaborate with a
team that has the same vision for mental health’s future,” said
PsycheDev Inc. Founder and CEO, Justin Roy. “We must join forces to
work on building a healthier society and this partnership will
bring us one step closer by helping us make the serious,
therapeutic use of plant medicine much more accessible. This means
a lot, as Global Trac Solutions will go a long way in helping us
bring better quality solutions to people much
faster.”
“We are currently in the midst of an
evolution of digital tools that are transforming society’s approach
to mental health and wellbeing,” said Flores. “I truly believe that
by combining Mr. Roy’s vision for PsycheDev with the business
development and go-to-market experience and knowledge the PSYC team
has to offer, we have the potential of bringing a truly unique and
highly-beneficial digital resource to the
masses.”
About Global Trac Solutions, Inc.
(OTCPink:
PSYC)
At Global Trac Solutions 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, 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 believe in 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. We truly are the right TRAC to
follow.
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, 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.
Disclaimer: Global Trac
Solutions, Inc. 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:
Global Trac Solutions, Inc.
(PSYC)
www.globaltracsolutions.com
(702) 239-1919
psyc@globaltracsolutions.com
OTCPINK:
PSYC
PSYC (PK) (USOTC:PSYC)
Historical Stock Chart
From Mar 2024 to Apr 2024
PSYC (PK) (USOTC:PSYC)
Historical Stock Chart
From Apr 2023 to Apr 2024