PSYC Provides an Update on Its Investment into The Conscious Fund
May 04 2021 - 8:30AM
InvestorsHub NewsWire
PSYC Provides an
Update on Its Investment into The Conscious
Fund
LAKE OSWEGO,OR -- May
4, 2021 -- InvestorsHub NewsWire -- Global Trac Solutions,
Inc. (OTCPink:
PSYC) (“Global Trac” “PSYC” or the “Company”) the first
publicly traded digital media company within the emerging sector of
medicinal psychedelics, is pleased to provide its shareholders with
an update on the Company’s investment in The Conscious Fund (the “Fund”), an early-stage
venture capital fund focused on the emerging sector of medicinal
psychedelics.
This January, the Company completed its
initial investment into the Fund via their private placement
memorandum made available to qualified investors. And, in the few
short months since completing their initial investment, the Company
contends that the Fund has added significant value to its
impressive portfolio of early-stage companies involved within the
medicinal psychedelics industry.
A few
highlights of note are the addition of Wesana
Health Inc. to the Fund’s portfolio, a life sciences company
focused on developing solutions for traumatic brain injury and led
by ex-NHL enforcer and 2x Stanley Cup winner, Daniel Carcillo. Last
month, Wesana Health announced the closing of their oversubscribed
private placement in the amount of CAD $16.1 million which, in
addition to the Fund, included investments from Ambria Capital, LLC
and George Steinbrenner IV.
Additionally, the Fund has also added April 19
Discovery, Inc., a psychedelic AI-focused company into its
portfolio and which the Fund contends is already demonstrating
profitability.
And
furthermore, ATAI
Life Sciences, Albert
Labs, and MagicMed
Industries, each continue to make significant progress with
their respective go-public strategies and appear to be on track to
potentially enter the public markets in the very near
future.
When
asked about the significance of the Fund’s progress from a value
perspective for PSYC, Global Trac Solutions, Inc. CEO, David
Flores, said the following:
“Our
decision to position PSYC as early investors in the Fund was
positively strategic. Fueled by the sound business acumen and
dedication of its Co-Founding Partners, we recognized the value of
the portfolio they were assembling and the potential many of these
companies have in terms of becoming leaders in an industry which,
according to Data
Bridge Market Research, is expected to grow to $6.85
billion-dollars by 2027. The growing amount of interest and
excitement many of these companies are seeing from the public
market and investment communities, in my opinion, lends to the
long-term value potential I see in this investment and what it can
hopefully deliver to PSYC and our shareholders in the years to
come.”
“We are
very grateful to count on the continued support of David and rest
of the Global Trac team,” said Michael Hoyos, The Conscious Fund
Co-Founding Partner - Americas. “As we continue building out the
Fund’s media strategy, we feel lucky to have Global Trac’s
world-class expertise behind us; the Psychedelic Spotlight platform
in particular has been a fantastic resource to leverage. Jill
Ettinger and her team have been a dream to work with and we look
forward to more collaboration in the future!”
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
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