PSYC Secures $350K in Private Equity-Based Capital Financing
March 29 2022 - 8:30AM
InvestorsHub NewsWire
PSYC Secures $350K in Private
Equity-Based Capital
Financing
LAKE OSWEGO, OR -- March 29, 2022 -- InvestorsHub
NewsWire -- PSYC
Corporation (OTCPink:
PSYC) (“PSYC” or the “Company”) a media leader for the emerging
sector of medicinal psychedelics and authorities behind
Psychedelic Spotlight, a top ranking psychedelic news and information
platform, is pleased to announce the Company successfully secured
$350,000 in equity-based financing.
Pursuant to the terms of the investment, a total of
17,500,000 shares of PSYC common stock were sold at a price of
$0.02 per share and include warrant options for the right to
purchase up to an additional 20M shares over the next 12 months.
The investment was completed by Trent Sullivan of Jackson,
Tennessee and is a private, accredited
investor.
“We are incredibly grateful to Mr. Sullivan for the
resounding faith he is demonstrating in the future of PSYC by way
of this investment,” said PSYC CEO, David Flores. “Much of the
intent here is to leverage the use of this financing to aid in the
advancement of certain initiatives, such as commencing with the
audit of our 2021 financials, expanding our monetization strategies
related to Psychedelic Spotlight, and continuing to explore
diversification opportunities for Spotlight Media Corp. We also
believe this should be viewed as a
very important strategic shift for the Company to a more
equity-based capital structure, particularly as we begin to ramp
things up with our corporate development efforts. Our success in
securing this investment reinforces our commitment to PSYC’s
long-term vision and strategy, on which we continue to execute, for
the benefit of our shareholders.”
Newly minted PSYC CFO, Craig Schlesinger, added, “Our
ability to secure equity financing despite these current market
conditions is a message to the psychedelics community that we’re
here to stay, and we’re just getting started. This quarter we’ve
seen psychedelic companies with product risk and in ancillary media
fold; however, we continue to build an organic, grass roots
shareholder movement. We still face a long road ahead with plenty
of challenges, but we’re excited to enter this new phase of equity
financing to bolster our performing assets, while developing and
diversifying our portfolio in the psychedelic & digital media
sectors. Mr. Sullivan recognizes and shares our team’s vision, and
we’re grateful for his confidence in PSYC’s long term growth and
value.”
About PSYC
Corporation (OTCPink:
PSYC)
At PSYC
Corporation 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, we believe 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 are
dedicated to 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.
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
(702)
239-1919
info@psyccorporation.com
OTCPINK:
PSYC
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