PSYC Acquires Stock Day Media to Help
Bolster Revenue Production Capacity
LAS VEGAS, NV -- August 31, 2023 -- InvestorsHub NewsWire --
PSYC Corporation (OTC
Pink Market: PSYC) ("PSYC", "PSYC Corp" or the "Company"),
parent company to Spotlight Media Corporation ("SMC" or the "wholly
owned subsidiary"), an evolving multimedia holding company and
leading media authority for emerging industries such as medicinal
psychedelics, is pleased to announce the Company, through its
wholly owned subsidiary, Spotlight Media Corporation, has completed
the acquisition of the Stock Day
Media platform from La Jolla Media, LLC. The deal, which is
effective September 1, 2023, is valued at $500K and will be
satisfied by the Company through a combination of cash and stock
distributions over the course of the next 12 months and contingent
upon the achievement of specific net revenue targets mutually
established between the Company and Stock Day Media.
The acquisition follows the formation of a strategic partnership
between the Company and Target
Media that was announced on August 29, 2023 and which,
according to the Company, played a strategic role in providing the
Company with the initial financing required to execute this
acquisition.
Founded in 2013, Stock Day Media has become one of the fastest
growing media outlets for Nano-Cap and Micro-Cap companies. It
educates investors while simultaneously working with penny stock
and OTC companies, providing transparency and clarification of
under-valued, under-sold Micro-Cap stocks of the market. Stock Day
Media provides companies with customized solutions to their news
distribution in both national and international media outlets.
The Stock Day Media website contains over 500 hours of
resourceful digital content that includes approximately 1,500
podcast episodes published to Audioboom and an estimated 2,000
podcast episodes published to its website.
The Company believes there may be an opportunity to leverage the
respective service offerings and brand authorities provided by
Stock Day Media along with its existing investor awareness-focused
platforms such as Technical 420, On the Bids, and Mushroom Stocks
to increase its market share within the investor awareness and
public relations sectors and to develop this arm of its business
operations into a more prominent revenue driver for PSYC.
"We are at a stage in the evolution of PSYC where monetizing our
assets and developing a solid and steady revenue model that is
pragmatically capable of contributing to our objective of
reconstructing our balance sheet is of paramount importance," said
PSYC CEO, David Flores.
"Over the past 3 plus years, I have had the privilege of working
with Everett Jolly and the amazing Stock Day Media team and have
witnessed firsthand the incredible value their platform can deliver
to companies in the public arena. I believe that integrating their
platform beneath the evolving PSYC umbrella of multimedia assets
represents a huge opportunity for the Company's current and future
value proposition.
As highlighted in our press release earlier this week
(PSYC Enters
Strategic Partnership with Target Media to Help Accelerate Audience
and Revenue Growth Opportunities), the Company has increased
its year-over-year revenue earnings by nearly 94%. This has
primarily been a result of our acquisition of Technical 420 and On
the Bids last September which are platforms geared towards
servicing companies in the public markets. With Stock Day Media
being a platform that is currently producing sales-related revenue,
we can reasonably anticipate for it to have an immediate and
positive impact on our bottom line right out of the gate and
hopefully build on this revenue growth in the months ahead.
Additionally, the board and I are also confident that we have
structured this acquisition prudently and in a manner that we
believe is friendly and advantageous to our shareholders and our
ongoing operations budget by minimizing, to the extent possible,
dilution, as well as preserving our cash-on-hand by ensuring that
future cash payments are tied directly to the achievement of
specific net revenue-related milestones.
We would also like to thank our new partners at Target Media who
played an instrumental role in helping to make this acquisition
possible through a strategic loan financing agreement that they
made available to the Company earlier this month.
This, in my opinion, is a clear example of the tremendous value
the Target Media team is actively delivering to PSYC and how they
are committed to working with us on helping to place the Company on
viable a path to becoming a formidable multimedia powerhouse."
Stock Day Media Founder and CEO, Everett Joly, shared his
thoughts on joining the PSYC team: "Stock Day Media is excited
about the opportunity to join PSYC Corporation who has been a
long-standing client and recurring guest on our show over the past
several years.
In the last few years alone, Mr. Flores and his team have made
wonderful progress with developing PSYC Corp into a leading media
authority for the psychedelics and cannabis sectors. And I believe
that by bringing our Stock Day Media platform into their business
model, we are helping to build off of this progress and are helping
to create a more dynamic and results-driven model that will
ultimately contribute to and enhance the monetization capabilities
of every platform under their umbrella.
I am also looking forward to the opportunity that I believe this
will present for us to expand Stock Day Media's existing business
model and to focus on growth-related strategies designed and
intended for us to capture a larger and more significant market
share in the months ahead."
About PSYC Corporation (OTC Pink Market: PSYC)
PSYC Corporation (the "Company" or "PSYC") is a
forward-thinking multimedia leader for progressive and emerging
market sectors such as medicinal psychedelics and cannabis.
Management's assessment is that through the diversified
collection of multimedia platforms the Company owns and operates,
and most specifically through the news, information, and engaging
content they each produce and publish respectively, PSYC has
effectively positioned itself at the forefront of some of today's
most dynamic and opportunity-filled market sectors.
About Spotlight Media Corporation
Spotlight Media Corporation ("SMC") (www.spotlightmediacorp.com)
is a Nevada Corporation and is a privately held wholly owned
subsidiary of PSYC that was incorporated on February 8, 2022.
SMC currently owns and operates Psychedelic Spotlight which,
according to the Company, has emerged as a recognized
industry-leading multimedia platform dedicated to covering the
growing movement across society involving psychedelic-assisted
healing. Additionally, SMC also operates PSPACE, a
psychedelic integration and mental wellness consumer-facing
platform being developed to effectively meet the demands linked to
the expanding interest and curiosity across society related to the
healing and therapeutic wonders of psychedelics and other plant
based and holistic modalities.
SMC's service-focused media platforms include Technical
420, On the Bids, and Mushroom
Stocks which each serve publicly traded companies operating in
the sectors of cannabis, mining and precious metals, and medicinal
psychedelics and have become valuable informational resources for
individuals following each of these respective market sectors.
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 and the success of the current
vaccine distribution, the adverse effect of the Omicron variant,
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 and is not incorporated by reference into such
reports.
Disclaimer: PSYC Corporation 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:
PSYC Corporation (PSYC)
www.psyccorporation.com
www.spotlightmediacorp.com
(702) 239-1919
info@psyccorporation.com
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