He was actively concerned within the hashish sector in Oregon, having defended hashish farmers in each federal and state courts. Moreover, Mike was concerned in hashish regulatory work in Oregon and Missouri, drafting hashish license purposes and securing land use approval for hashish services as state laws permitted. He’s additionally an skilled farmer, having raised honeybees, livestock and poultry and operated a industrial hashish outside farming operation.
Mike developed the idea for the world’s first metered-dosing psilocybin nasal spray in 2018 collectively together with his co-inventor. In Jamaica, he has extracted psychedelic compounds from uncooked biomass and developed and high quality examined merchandise there.
Mike obtained his Bachelor of Arts from Truman State College (Kirksville, Missouri) and Juris Physician from the College of Oregon Faculty of Legislation. He’s an avid outdoorsman and rafting information.
Moreover, at present the Firm issued a letter to shareholders from its founder and Chief Government Officer Mike Arnold.
Expensive Fellow Shareholders:
With our latest announcement of our pending transaction to amass Toronto-based psychedelic biotechnology firm Dyscovry Science, Ltd., we embark on our long-envisioned course for Silo Wellness within the midst of potential market consolidation. I based this firm in 2018 with a agency imaginative and prescient for psychedelic wellness. We’ve got scrapped alongside our method from choosing feral psilocybin mushrooms out of cow dung in Jamaica to growing the world’s first psilocybin nasal spray to a public itemizing to this: being poised to be the one publicly traded psychedelics firm offering psychedelic therapeutic proper now via Jamaican psychedelic wellness retreats whereas on the identical time innovating the ‘what’s subsequent’ for psychedelic pharmaceutical therapeutic.
Oregon: The Final Probability to Be First
Since inception, we supposed to unlock the chance that I foresaw for Oregon, the place I’ve lived since 1998 and have practiced regulation for the final 20 years. There’s a lot we are able to do right here in Oregon to introduce psychedelic therapeutic to the lots.
With the intent to maximise shareholder worth, we glance to Oregon because the final likelihood to be first to market within the plant medication house. Oregonians have the chance to usher in doubtlessly a whole bunch of 1000’s of individuals for his or her first psychedelic experiences. That is an unprecedented branding alternative: to without end be imprinted on one thing that so many first-time customers price as considered one of their biggest lifetime experiences proper up there with the delivery of their first little one. Ingesting a pop or shopping for a automotive does not try this, and I problem any business to offer me an instance similar to a psychedelic expertise.
This is a chance and nice duty, and we imagine that as the one Oregon-based publicly traded psychedelic firm with psychedelic expertise in a authorized market (Jamaica), we’re effectively positioned to maneuver into the primary U.S. state turnkey prepared. We knew that we could not export mushrooms or truffles to Oregon from Jamaica, however we may export our psychedelic retreat mental property. That coupled with boots on the bottom in Oregon, with the one Oregonian with psychedelic capital markets expertise, we imagine our crew is effectively positioned to emerge as a worldwide chief within the house via our “Oregon First” technique.
Jamaica Retreats: Offering psilocybin to friends proper now
Going ahead we’ll concentrate on what we’ve that’s distinctive. First, we’re a psychedelics firm that’s really providing psychedelics to purchasers proper now. That’s distinctive. Additionally, we’ve psychedelic retreat logistics in Jamaica firmly in hand and entry to the Western Hemisphere’s solely authorized English-speaking psilocybin jurisdiction previous to Oregon coming on-line subsequent yr. That is one other priceless differentiator.
With our operational expertise, we might also have a B2B alternative to primarily white label retreats to those that have been within the underground for thus lengthy or to people who have a related advertising platform and social media that screams out “simply add psilocybin.” We intend to discover these alternatives extra diligently.
Advertising and marketing. Operationally, I’ve plans to raised exploit our advertising alternatives in a really uncrowded retreat house. First, we plan to scale the Jamaican retreats by providing them extra ceaselessly, backed by a extra sturdy advertising plan focusing initially on the fundamentals: search engine optimisation, influencer companions, and so forth. Whereas our inquiries which have originated from earned media (Bloomberg, Washington Put up, Buzzfeed, Exterior Journal, and so forth.) and Google searches have been overwhelming at occasions, we nonetheless have a variety of alternative to develop right here.
Therapeutic fight veterans. Moreover, there are such a lot of skilled potential collaborators searching for a approach to carry their experience and advertising powers to the Jamaican and Oregon psychedelic retreat markets. We’re at the moment negotiating with events with expertise in veterans retreats and veteran psychological sickness and hope to broaden the scope of our Jamaican choices accordingly, along with establishing a path ahead for veterans’ entry in Oregon.
On common a veteran takes his personal life nearly each hour of daily. These tragedies have continued daily whereas the psychedelic business has been promising to offer entry to this medication someday within the unknown future. Sufficient is sufficient. I based a psychedelic retreat in Jamaica and that platform must be accessible to those that want it most. With the precise companions, we are able to safely get that finished. I anticipate to announce one thing in better element relating to our intentions there within the close to future.
Bob Marley-branded practical and psychedelic mushroom merchandise
Lastly, I imagine that along with unlocking the potential of our nature-based psychedelic retreats, we’ve alternatives to extend the attain and relevance of the Bob Marley model of practical mushroom and psychedelic merchandise. After I first started talking with the Marley household in late 2019/early 2020, I used to be envisioning a worldwide model that epitomized the very best of the human situation. I wished to concentrate on the very best that psychedelic mushrooms have to supply: the power of an individual to discover a renewed sense of goal in serving to and loving others as they would need for themselves. Bob Marley’s One Love philosophy represents this. And on the enterprise aspect of issues, it permits us to leverage a model recognized around the globe and linked to Jamaica.
Pharmaceutical Alternatives and De-Risking the Psychedelic Area
As was mentioned in our final press launch and featured in Forbes, we imagine Dyscovry has the potential to essentially set us aside. With our expanded plans to emphasise these totally different however complementary enterprise “silos,” I’ve agreed to step in as interim CEO to offer an opportunity to the eventual newly constituted board (assuming we shut on Dyscovry as anticipated) to institute a extra formal CEO search. I’d be joyful to tender my identify for consideration by the board as a candidate in that case requested. A CEO transition was inevitable contemplating the entire adjustments within the psychedelic market since itemizing and our evolving market technique.
With our plans to be a complete psychedelic firm, we hope to de-risk the house by presenting belongings that account for a future in psychedelic pharma and the potential future in the US adult-use market as signaled by Oregon voters in November 2020 and anticipated to open up in 2023. We plan to current ourselves as an incubator holding firm concentrating on nascent market alternatives and readying them for potential spinout.
NASDAQ? If the Dyscovry alternative is profitable, I envision a possible Nasdaq up-listing of that asset or Silo as a complete (after spinning out any touching-the-fungus belongings that could be unappealing to these regulators). We’ve got begun discussions with a Nasdaq itemizing guide who has expertise with the psychedelic market. This is able to require vital features in our share value which we hope can happen with the brand new imaginative and prescient. Nonetheless, to speed up that chance, in addition to a situation precedent to receiving the remaining funding tranches from our previously-announced financing with Alpha Blue Ocean, we’ve launched into a 20-1 share consolidation. Thanks to all of you who’ve contacted me along with your overwhelming assist for this plan. Extra details about that may be present in our annual round filed on SEDAR.
Extra Financing Plans. Moreover, we’re in negotiations relating to additional financing doubtlessly on the again of the Dyscovry alternative. Ostensibly it could be accessible to attract right down to fund any extra development plans in Dyscovry and the associated M&A alternatives that come to mild via that enterprise. Nonetheless, it’s going to even be accessible to shortly capitalize on Oregon alternatives as they change into obvious. With a market that may go shortly from ultimate guidelines to accepting licensing purposes in brief order, there shall be a necessity for operators to maneuver shortly on acceptable actual property. We might also be capable to leverage our presence in Oregon and expertise within the psilocybin retreat house to judge the groups and may very well be a priceless companion in that regard.
Conclusion
This previous yr we’ve held on because the psychedelic market has been pummeled all whereas seeing the start hints to the inevitability of the upcoming consolidations within the sector. Nonetheless, we’ve weathered the storm and at the moment are recapitalized as of April.
Thanks to all the unique Kansas Metropolis shareholders who’ve hung in there and to all of the go-public shareholders which have held. Your suggestions and encouragement has been humbling and really welcome. And to all the brand new shareholders which have come on board not too long ago in the course of the share value dips: welcome aboard. This psychedelic rocket ship is fueled, and the launch pad constructed with the mission firmly in hand. Let’s go discover this sector collectively.
Sincerely,
Mike Arnold,
Lawyer at Legislation
CEO/Chairman | Silo Wellness, Inc. | (CSE: SILO) (OTCQB: SILFF)
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ABOUT Silo Wellness
Silo Wellness is a growth-oriented holding firm centered on practical mushroom and psychedelic alternatives that profit from a unified ecosystem and distinctive management. Based in 2018 and headquartered in Toronto, Silo Wellness has a presence in each Jamaica and Oregon. Silo Wellness is a publicly traded firm on the Canadian (CSE: SILO) and Frankfurt (FSE: CK70) exchanges and buying and selling on the OTCQB Enterprise Market (OTCQB: SILFF).
For extra details about Silo Wellness, please go to www.silowellness.com.
Silo Wellness Firm Contact:
Mike Arnold, CEO
541-900-5871
ir@silowellness.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This information launch comprises “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) inside the which means of the relevant Canadian securities laws. All statements, apart from statements of historic truth, are forward-looking statements and are primarily based on expectations, estimates, and projections as on the date of this information launch. Any assertion that entails discussions with respect to predictions, expectations, beliefs, plans, projections, goals, assumptions, future occasions or efficiency (typically however not at all times utilizing phrases reminiscent of “expects”, or “doesn’t anticipate”, “is predicted”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “could” or “may”, “would”, “would possibly” or “will” be taken to happen or be achieved) aren’t statements of historic truth and could also be forward-looking statements. Ahead-looking info could relate to anticipated occasions or outcomes together with, however not restricted to the closing of the acquisition with Dyscovry Science Ltd., and the Firm’s future enterprise plans. Ahead-looking statements are essentially primarily based upon a lot of estimates and assumptions that, whereas thought-about cheap, are topic to recognized and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such elements embody, however aren’t restricted to: common enterprise, financial, aggressive, regulatory, political and social uncertainties and the potential influence of COVID-19. Such dangers and uncertainties embody, amongst others, the chance elements included in Silo Wellness‘s steady disclosure paperwork accessible on www.sedar.com. There might be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements.
Readers mustn’t place undue reliance on the forward-looking statements and knowledge contained on this information launch. Silo Wellness assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they modify, besides as required by regulation.
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