A range of Marley One functional mushrooms from Silo Wellness now

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TORONTO, October 12, 2021 (GLOBE NEWSWIRE) – Silo Wellness Inc. (“Well-being in silos“or the”Society“) (CSE: SILO) (OTCQB: SILFF) (FRA: 3K70), one of the world’s leading psychedelics companies, today announced the listing of its portfolio of Marley One branded mushroom products on the 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 commercialization avenues for the brand in the US and UK within 60 days of launch.

“Today we are celebrating an important milestone for Silo Wellness and for the mushroom industry as a whole,” said Douglas K Gordon, CEO of Silo Wellness. “From the start, our main goal has been to broaden acceptance and support for the standardization of mushrooms and psychedelics and make them available today, wherever possible, to help reduce trauma,” 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 “SHROOMDAY20” 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. .

“In addition to functional mushrooms, there is a wealth of valuable research being done on psychedelic compounds and their various properties and benefits,” Gordon continued. “Commercializing research of this nature takes time, precision and expertise, and it takes 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 wellness 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/.

DEBT SHARES

On August 11, 2021, the Company entered into a loan agreement with an arm’s length third party lender (the “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 THE WELLNESS SILO
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.

For more information, please contact:

Well-being Silo media relations:
hello@trailblaze.co

Silo Wellness Investor Relations:
(778) 383-6740
ir@silowellness.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION: This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance, “anticipates” or “does not anticipate”, “plans”, “budget”, “planned”, “Foresees”, “estimates”, “believes” or “, events or results” may “or” could “,” would “,” could “or” could “be considered to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate to, among other things: product sales on Amazon, global functional mushroom market size, product availability, and debt actions. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events differ materially from those expressed or implied. by such forward-looking statements. These factors include, but are not limited to: business, economic, competitive, political and social uncertainties, customer acceptance of the Company’s products, Amazon’s distribution infrastructure, the potential impact of COVID- 19 and the acceptance by the CSE of Debt Actions. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. Silo Wellness assumes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, in the event of change, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.


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