Psyched Wellness Ltd (CSE:PSYC) (OTCQB:PSYCF) (FRA:5U9) said that Matthew Singh, a long-time veteran within the beverage and pharmaceutical industries, has joined its team as a consultant.
The company said Singh will execute Psyched Wellness management’s go-to-market branding and sales strategy for its AME-1-derived consumer products. AME-1 is the company's proprietary Amanita muscaria extract.
Psyched Wellness is developing a line of Amanita muscaria-derived water-based extracts, teas, and capsules designed to help promote stress relief, relaxation and assist with restful sleeping.
READ: Psyched Wellness starts preclinical oral toxicity study of Amanita muscaria extract AME-1
The company noted that Singh has a proven track record of success launching brands, products, departments, and national business units within the multibillion-dollar beverage and pharmaceutical industries. He is currently the head of VPX Pharmaceuticals' numerous consumer packaged goods (CPG) properties in Canada, where he has secured immediate profitability for each new sports nutrition, energy drink, cannabis, and alcoholic product launched.
Prior to VPX, Psyched said Singh spent almost a decade at Red Bull Canada, where he ran the company's Business Development department and spent over seven years with Coca Cola. In addition to this, he is an integral contributor for multiple start-up entities as a consultant, board member, and board strategic advisor within the health and wellness, and digital intelligence verticals.
"I have been fortunate to work with industry leaders and market disruptors in the extremely competitive beverage and pharmaceutical landscapes and I can confidently say the CPG potential being developed by the team at Psyched Wellness has me more excited than anything I have witnessed in my career thus far,” Singh said in a statement.
“We truly believe this product will have a sustainable commercial and societal impact, starting in North America and then scaling up globally. I believe Amanita will change the world with its power to help stress relief, relaxation, assist with restful sleeping, and I am proud to be a part of the journey."
Psyched Wellness CEO Jeff Stevens commented: "We are thrilled to have Matt join the team at Psyched Wellness to drive our branding and sales strategy. He brings an invaluable amount of experience and expertise in all things CPG, and he will be integral in driving the continual development of the Company's go-to-market strategy.”
Stevens said the company is on track to file its application with the US Food and Drug Administration for a New Dietary Ingredient and Health Canada for a Natural Health Product Number in December 2021, when the pre-clinical trials are completed.
“This positions Psyched Wellness to be able to begin marketing products in both countries in the first half of 2022. Initiating the branding and marketing strategy now affords us enough time to hit the ground running in the first half of 2022," he added.
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