Silo Wellness Appoints CEO Douglas K. Gordon to Board, Provides Company Updates



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Toronto, Ontario – (Newsfile Corp. – January 6, 2022) – Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) (“Well-being silo“or the”Society“), a leading global psychedelics company, is pleased to announce that the company’s CEO, Douglas K. Gordon, has been appointed a director of the company. Mr. Gordon has led the company since 2020, through his pre-register fundraising and public markets in March 2021, focusing on Psychedelic Retreats in Jamaica and the Marley One Functional Mushroom product line. Mr. Gordon is the Founder of CanEx Jamaica, The First Conference and cannabis trade exhibition in the Caribbean. He has over 30 years of experience in finance, media, sales and marketing. Mr. Gordon has forged an extensive global network with particular attention to the development of opportunities businesses in the Caribbean and Latin America. Mr. Gordon has developed relationships with government and distribution in Jamaica as a senior operator of a health and wellness product distribution company and psychedelic retreats.

Mr. Gordon was the architect behind the launch of the Marley One mushroom product line in collaboration with the Bob Marley Estate. The initial Marley One product offering launched on the e-commerce store, available at www.MarleyOne.com, and included a line of functional mushroom tinctures with unique blends highlighting the brand’s connection to Jamaica. Tinctures include species such as cordyceps, lion’s mane, chaga, reishi, and turkey tail which provide a range of unique health and wellness benefits, ranging from immunity and gut health to cognitive function and improved sleep. Additionally, the company’s listing on Amazon was approved on August 9, 2021. The approval allows the company to make its five SKUs available for sale on Amazon’s e-commerce website. Expected sales will depend on the sales and marketing plan, which will include marketing expenses for targeted ads on Amazon to strengthen the profile of the Company’s products on the website. This is an addition and not a replacement for the Company’s other platforms and sales opportunities, including the Company’s flagship online store. The Company has also worked with other manufacturers and sampled new functional food products from fungi in various product categories. The Company is also in negotiations with two different beverage manufacturers in two different product categories, which may or may not be consumed successfully. One moved to the R&D stage with functional mushroom compounds provided by the Company to the potential partner, and the Company received the first iteration of beverage samples on or around December 3, 2021.

Silo Wellness also announces that Mo Yang has resigned from the company’s board of directors to pursue other opportunities. Silo Wellness would like to thank Mr. Yang for his service to the Company since 2020. His financial expertise and operational support have been essential in the early stages of the Company.

Other corporate updates

On August 11, 2021, the Company entered into a loan agreement with an arm’s length party for capital of $ 250,000 bearing interest at an annual rate of 6%. On August 12, 2021, the Company repaid $ 144,000 of the principal amount of the loan by issuing 2,500,000 common shares of the Company valued at CA $ 0.072 per share (CA $ 180,000 or $ 144,000). On September 16, 2021, the Company repaid $ 66,360 of the principal amount of the loan by issuing 1,500,000 common shares of the Company valued at CA $ 0.056 per share (CA $ 84,000 or $ 66,360). On December 27, 2021, the Company agreed to issue 1,062,612 common shares of the Company valued at C $ 0.05 to settle the outstanding total of principal and interest of $ 40,911. Completion of Debt Actions is subject to compliance with applicable regulations, including CSE policies.

On December 27, 2021, the Company agreed to issue 600,000 common shares valued at C $ 30,000 to settle a debt owed to an arm’s length service provider, subject to CSE approval. On December 27, 2021, the Company also granted 1,000,000 options to purchase common shares to 4 directors and to the CEO of the Company, each option allowing its holder to purchase one common share of the Company. Company at C $ 0.05 for up to five years from date of grant. Options are subject to a four month hold period and vest in equal quarterly installments over one year.

ABOUT SILO WELLNESS

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 (FSE: 3K70) 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 IP, 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 are available at www.MarleyOne.com.

For more information on Silo Wellness, please visit www.silowellness.com.

For more information, please contact:

Silo Wellness Investor Relations and Media Relations:

Mike Arnold, President
541-900-5871
[email protected]

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 involving discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance, “anticipates” or “does not anticipate”, “plans”, “budget”, “planned”, ” foresees “,” considers “,” considers “,”, “intends to” or variations of these words and expressions or indicating that certain actions, 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, among other things, to the debt actions and business plans of Silo Wellness. 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 to occur. and future events differ materially from those expressed or implied. by such forward-looking statements. These factors include, but are not limited to: general business, economic, competitive, regulatory, political and social uncertainties and the potential impact of COVID-19. These risks and uncertainties include, among others, the risk factors included in the continuous disclosure documents of Silo Wellness available at www.sedar.com. 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.

NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109313


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