PSYC Provides an Update on Its Investment into The Conscious Fund
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LAKE OSWEGO,OR, May 04, 2021 (GLOBE NEWSWIRE) -- Global Trac Solutions, Inc. (OTCPink: PSYC) (“Global Trac” “PSYC” or the “Company”) the first publicly traded digital media company within the emerging sector of medicinal psychedelics, is pleased to provide its shareholders with an update on the Company’s investment in The Conscious Fund (the “Fund”), an early-stage venture capital fund focused on the emerging sector of medicinal psychedelics.
This January, the Company completed its initial investment into the Fund via their private placement memorandum made available to qualified investors. And, in the few short months since completing their initial investment, the Company contends that the Fund has added significant value to its impressive portfolio of early-stage companies involved within the medicinal psychedelics industry.
A few highlights of note are the addition of Wesana Health Inc. to the Fund’s portfolio, a life sciences company focused on developing solutions for traumatic brain injury and led by ex-NHL enforcer and 2x Stanley Cup winner, Daniel Carcillo. Last month, Wesana Health announced the closing of their oversubscribed private placement in the amount of CAD $16.1 million which, in addition to the Fund, included investments from Ambria Capital, LLC and George Steinbrenner IV.
Additionally, the Fund has also added April 19 Discovery, Inc., a psychedelic AI-focused company into its portfolio and which the Fund contends is already demonstrating profitability.
And furthermore, ATAI Life Sciences, Albert Labs, and MagicMed Industries, each continue to make significant progress with their respective go-public strategies and appear to be on track to potentially enter the public markets in the very near future.
When asked about the significance of the Fund’s progress from a value perspective for PSYC, Global Trac Solutions, Inc. CEO, David Flores, said the following:
“Our decision to position PSYC as early investors in the Fund was positively strategic. Fueled by the sound business acumen and dedication of its Co-Founding Partners, we recognized the value of the portfolio they were assembling and the potential many of these companies have in terms of becoming leaders in an industry which, according to Data Bridge Market Research, is expected to grow to $6.85 billion-dollars by 2027. The growing amount of interest and excitement many of these companies are seeing from the public market and investment communities, in my opinion, lends to the long-term value potential I see in this investment and what it can hopefully deliver to PSYC and our shareholders in the years to come.”
“We are very grateful to count on the continued support of David and rest of the Global Trac team,” said Michael Hoyos, The Conscious Fund Co-Founding Partner - Americas. “As we continue building out the Fund’s media strategy, we feel lucky to have Global Trac’s world-class expertise behind us; the Psychedelic Spotlight platform in particular has been a fantastic resource to leverage. Jill Ettinger and her team have been a dream to work with and we look forward to more collaboration in the future!”
About Global Trac Solutions, Inc. (OTCPink: PSYC)
At Global Trac Solutions we are integrating media, creativity, and technology to develop and deploy thought-provoking ideas and solutions that are fostering and transforming the approach to some of society’s most pressing matters.
PSYC has expressed its intent and commitment to positioning itself at the forefront of the psychedelic revolution and as a resource center for discovering and understanding the latest research and business opportunities surrounding psychedelic inspired medicines. In conjunction with the FDA’s more open-minded approach to psychedelic medicines, and as several major U.S. cities continue to approve the decriminalization of psilocybin, investors are speculating that the psychedelic boom could be bigger than that of cannabis. PSYC is your source for current investment related news specific to psychedelic medicines and cutting-edge research improving overall health, moving this sector into the mainstream.
We believe in a forward-thinking approach that embraces groundbreaking new technology and innovations and through the vision of business development we intend to continue to evolve into these unchartered territories as the industry leaders of the future. We truly are the right TRAC to follow.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors, including the effect of COVID-19, that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
Disclaimer: Global Trac Solutions, Inc. does not in any way encourage or condone the use, purchase, sale or transfer of any illegal substances, nor do we encourage or condone partaking in any unlawful activities. We support a harm reduction approach for the purpose of education and promoting individual and public safety. If you are choosing to use psychedelic substances, please do so responsibly.
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