Psyched Wellness (CSE:PSYC, OTCQB:PSYCF) Ltd announced that Health Canada has approved its submission to have the Amanita muscaria mushroom added to the Natural Health Products Ingredient Database (NHPID) of Canada.
The Toronto-based company said it had submitted the request to add the Amanita muscaria mushroom to NHPID as a medicinal organism after carrying out extensive research work in testing and data gathering on the substance and its extract AME-1.
“The addition of Amanita muscaria to the NHPID is a significant achievement and is the result of extensive research that Psyched has undertaken to demonstrate its natural medicinal properties,” said Jeffrey Stevens, CEO of Psyched Wellness (CSE:PSYC, OTCQB:PSYCF) in a statement.
READ: Psyched Wellness is turning this instantly-recognizable mushroom into a health and wellness product
He added: “This milestone moves us closer to being able to bring our Amanita-based CPG products to market which we are developing to promote stress relief, relaxation, and assist with restful sleeping through the natural calming powers of AME-1.”
Health Canada approved the request and classified the psychedelic mushroom as a Natural Health Product under Schedule 1, Item 1 (a fungus) of the Natural Health Products Regulations.
Psyched Wellness is a health supplements company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The company is focused on creating premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category.
The wellness company is in the process of developing a line of Amanita muscaria-derived water-based extracts, teas, and capsules designed to help with three health objectives: promote stress relief, relaxation, and assist with restful sleeping.
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