Mr. Michael Nederhoff reports

PSYCHED WELLNESS ANNOUNCES SECURED TERM LOAN

Psyched Wellness Ltd. has entered into secured term notes with Gotham Green Fund III LP and Gotham Green Fund III (Q) LP for an aggregate principal amount of $230,000 (U.S.). The proceeds of the loan will be used by the company for operating expenses and inventory purchases related to operating the company's business under the AMA brand.

The loan bears interest at the rate equal to the applicable secured overnight financing rate (SOFR) plus 5 per cent per annum, compounded annually in accordance with the terms of the notes, with all accrued interest together with the principal amount payable on Aug. 4, 2028 (the maturity date). Each note is secured by a continuing security interest over all assets and property of the company directly related to the company's business under the AMA brand.

The loan constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions as the lenders, together with their affiliates and/or co-investors, jointly control over 10 per cent of the outstanding common shares of the company. The company is relying on the exemptions from formal valuation and minority approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25 per cent of the company's market capitalization.

About Psyched Wellness Ltd.

Psyched Wellness is a Canadian-based health supplements company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The company's objective is to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category.

We seek Safe Harbor.