Silo Wellness Inc. (âSilo Wellnessâ or the âCompanyâ) (CSE: SILO) (OTCQB: SILFF) (FRA: 3K70), one of the world’s leading psychedelics companies, today announced the listing for sale from its portfolio of Marley One-branded mushroom products on multinational e-commerce conglomerate Amazon. Today’s Amazon listing follows the company’s signing of more than $ 4 million in revenue-generating international distribution agreements, which cemented strong marketing avenues for the brand in the United States and the United States. UK within 60 days of launch.
âToday we are celebrating an important milestone for Silo Wellness and for the mushroom industry as a whole,â said Douglas K Gordon, CEO of Silo Wellness. âFrom the start, our main goal has been to expand acceptance and support for the standardization of mushrooms and psychedelics and make them available today, wherever possible, to help reduce trauma,â improve performance and generate income in this booming industry. Our listing on Amazon, one of the largest ecommerce platforms in the world, brings us one step closer to that goal. ”
To celebrate the launch of Marley One on Amazon and Mushroom Day on October 15, 2021, a special code âSHROOMDAY20â is available until the end of the month.
Global mushroom brand Marley One was created by Silo Wellness in collaboration with the family of legendary musician Bob Marley and launched in June 2021. Silo Wellness is also a leading facilitator of psychedelic retreats in Jamaica, a jurisdiction where culture , the extraction and consumption of psilocybin mushrooms is permitted. In 2019, the Company announced the proof of concept of a patent pending psilocybin nasal spray. In addition to its market-leading mushroom products, Silo Wellness hosts ketamine retreats in Oregon and recently expanded its psychedelic offering to introduce 5-MeO-DMT-enhanced retreats across Jamaica. .
âIn addition to functional mushrooms, there is a wealth of valuable research being done on psychedelic compounds and their various properties and benefits,â Gordon continued. âCommercializing research of this nature takes time, precision and expertise, taking years to produce social impact. However, Silo Wellness is now focused on generating psychedelic income – and we see the widespread adoption of functional mushrooms as a critical first step towards that goal. We’re excited to leverage Amazon’s massive distribution network to help bring the health benefits of functional mushrooms directly to consumers.
Amazon will distribute Marley One mushroom products, starting with functional mushroom tinctures, directly to consumers around the world. Silo Wellness also intends to add other functional mushroom products, including gummy candies, capsules and cosmetics.
According to Intelligence from Mordor , the global functional mushroom market is valued at USD 25,415.12 million in 2020 and is expected to register a CAGR of 8.44% during the forecast period 2021-2026. Mordor Intelligence also notes that functional mushrooms are expected to have increased applicability beyond long-term health or pharmaceutical products, particularly in the food and beverage industry.
For more information on Silo Wellness, please visit https://www.silowellness.com/ . To purchase Marley One products, please visit https://marleyone.com/ .
On August 11, 2021, the Company entered into a loan agreement with an arm’s length third party lender (the â Lender “) whereby the Company borrowed US $ 250,000 for working capital and inventory growth purposes (the” To lend “). On September 16, 2021, the Company entered into a debt settlement agreement with the lender to settle US $ 66,360 of the loan in exchange for 1,500,000 common shares at a deemed price of C $ 0.056 per common share, which represents a 20% discount from the closing price. ordinary shares on September 14, 2021 (the ” Debt actions “). The principal amount of the loan of $ 39,640 remains unpaid. Completion of Debt Actions is subject to compliance with applicable regulations, including CSE policies.
ABOUT Silo Well-being
Silo Wellness is a growth-oriented holding company focused on functional and psychedelic mushroom opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 and headquartered in Toronto, Silo Wellness operates in Jamaica and Oregon. Silo Wellness is a publicly traded company on the Canadian (CSE: SILO) and Frankfurt (FRA: CK70) stock exchanges and trades on the OTCQB Venture market (OTCQB: SILFF).
Silo Wellness offers a diverse and growing portfolio of functional mushroom products, psychedelic wellness retreats in Jamaica and Oregon, the cultivation of psychedelic mushrooms and truffles in Jamaica, the development of a smart brick store and Mortar in Jamaica and Intellectual Property, initially focused on marketing its psilocybin dosing nasal spray.
In March 2021, Silo Wellness announced a multi-year licensing agreement with the family of legendary musician Bob Marley for the exclusive global rights to brand, market and sell a distinct product line of functional and psychedelic mushrooms. The Marley One range of functional mushrooms is available at www.marley.one.
For more information on Silo Wellness, please visit www.silowellness.com.
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