Psyched Wellness (CSE: PSYC) this morning had a brief announcement. Within, the company revealed that it has entered into a supply agreement for Amanita Muscaria, the functional mushroom in which it has focused its research efforts.
The supply agreement has been entered into with that of MB MEMEL GOODS, a firm based in Lithuania that is focused on gathering, processing, and distributing numerous wild mushrooms. Under the terms of the arrangement, an initial 200 kilograms of amanita muscaria dried mushroom caps are to be supplied to Psyched.
Initial shipments under the arrangement are expected to begin in September, and continue on a monthly basis through December 2021. Psyched will then use the dried mushroom caps to create its AME-1 extract.
The supply agreement is valid for a period of two years.
Psyched Wellness last traded at $0.28 on the CSE.
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