Psyence and Eden Labs Announce Extraction and Product Development Collaboration

Psyence Group Inc. (CSE: PSYG. | OTCQB: PSYGF), a life science biotechnology company pioneering the use of natural psychedelics in mental health and well-being, is pleased to announce that it has entered into a partnership with Eden Labs LLC, a product development and extraction technology company that has developed intellectual property and methodologies around the extraction of psilocybin-yielding mushrooms.   The partnership features a Global IP Licensing Agreement for the commercialization by Psyence of extraction technology and formulation IP developed by Eden Labs for the production of a water soluble, doseable, stabilized psilocybin powder naturally derived from the fruiting bodies of psilocybin-yielding mushrooms cultivated and processed at Psyence’s federally licensed certified facility in Southern Africa.

Psyence is also pleased to be appointing AC Braddock, CEO of Eden Labs, to its Scientific Advisory Board to utilize her skill sets in methodology and product development.   AC has earned global recognition for her visionary leadership in strategic industry building, political engagement, board leadership, organizational health, extraction technology, natural products formulations, product placement, branding from problem solving and as an inspirational speaker.

The partnership will be facilitated by South African entrepreneur Cody Futeran who will play an active role in the business development arm of the venture,

Eden CEO, AC Braddock added: “We could not be more pleased with this partnership and its potential in providing a plethora of stable and titratable medicines in a wide range of applications.   It is clear that the health and wellness sectors are clamoring for naturally derived medicinal products and we are thrilled to be collaborating with a company that shares our vision in bringing safe, highly effective, plant-based medicines to the forefront of medical science and available to patients across the globe.”

Eden Labs has entrenched its commitment to the future success of this venture and the future of the Company by having a portion of the purchase price of the equipment supplied to the Company to the value of USD$195,330 paid in 2,195,874 Company shares. This is a welcomed show of confidence in the business and a solid foundation upon which to build a long-term strategic partnership with aligned interests.

At the issue date, the securities referred to above will be subject to CSE approval and a four month hold period under securities laws.

Psyence is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG) and quoted on the OTCQB (OTCQB: PSYGF), with a focus on natural psychedelics. Psyence works with natural psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research. Informed by nature and guided by science, we built and operate one of the world’s first federally licensed commercial psilocybin mushroom cultivation and production facilities in Southern Africa. Our team brings international experience in both business and science and includes experts in mycology, neurology, palliative care, and drug development.   We work to develop advanced natural psilocybin products for clinical research and development. Our key divisions, Psyence Production, Psyence Therapeutics and Psyence Function, anchor an international collaboration, with operations in Canada, the United Kingdom, Southern Africa, and a presence in the United States and Australia.