Silo Wellness Archives - Green Market Report

StaffJune 3, 2021
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3min13720

Silo Wellness Inc. (CSE: SILO) has signed a letter of intent with Canadian-based mushroom company Mushe Inc. to create the first legal functional and psychedelic mushroom retail outlet based in Jamaica. Silo Wellness currently cultivates psilocybin mushrooms, conducts psychedelic wellness retreats, and is testing a proof-of-concept patent-pending nasal spray.

“As a company, we are very bullish about the high-potential functional mushroom category and the psychedelics sector as a whole. We continue to invest in and expand our operations in Jamaica, the only country where the cultivation, extraction, and sale of psilocybin mushrooms is permissible,” said Douglas K. Gordon, Chief Executive Officer of Silo Wellness. “Consumers are increasingly interested in incorporating mushrooms into their wellness routines. Through our propagation operations, psychedelic wellness retreats, and upcoming retail location, it’s our aim to make mushroom-based products, experiences, and education accessible at a time when so many people are struggling with mental health and other issues.”

According to the company statement, Silo Wellness and Mushe Inc. will build out and operate a “smart shop” retail establishment specializing in the sale of functional and psychoactive mushroom products such as tinctures, capsules, topicals, and edibles, as well as boutique literature and accessories. Earlier this year, Silo Wellness announced a multi-year license agreement with the family of legendary musician Bob Marley for the exclusive worldwide rights to brand, market, and sell a distinct product line of functional and psychedelic mushrooms, which will be sold at the store upon launch.

“In Silo Wellness, we’ve found a partner aligned with our mission to educate consumers about the healing powers of psychedelics and make mushroom-based wellness products and experiences more available,” added Jonathan Rakic, COO of Mushe Inc.  “We look forward to introducing Jamaican residents and tourists to the wide-ranging health and wellness benefits of functional and psychedelic mushrooms – one smart shop at a time.”

While most people associate Jamaica with cannabis and Rastafarians, the country is also considered the epicenter of the psychedelic mushroom movement in the Western Hemisphere, where “magic mushrooms” are openly and legally grown and sold, positioning the island nation to directly benefit from wellness tourism as well as sales of psychedelic mushrooms. The global functional mushroom market size was valued at $46.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2028, reports Grand View Research.

 

 


StaffMay 19, 2021
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4min8410

Silo Wellness (CSE: SILO), which is based in Canada with operations in the US and Jamaica, is expanding its psychedelic portfolio to include 5-MeO-DMT as well as psilocybin and ketamine. The company cultivates psilocybin mushrooms in Jamaica, conducts psychedelic wellness retreats in two countries, and is testing a patent-pending psilocybin nasal spray in Jamaica with additional formats on the way. They have also announced a licensing agreement with the Bob Marley estate and will launch the world’s first global mushroom and psychedelics brand under the Marley name within the next month.

Full name: Douglas K. Gordon 

Title: Chief Executive Officer  

Company: Silo Wellness 

Years at current company: 1 

Education profile: Bachelor of Arts in Economics, University of Pennsylvania

Most successful professional accomplishment before cannabisBefore entering the cannabis industry, I founded OCEAN Style, a luxury lifestyle Caribbean magazine encompassing print, electronic, broadcast, and digital publishing. 

Company Mission: We are passionate in our quest to make psychedelics widely available and to assist and support as many people as possible to help them reduce trauma or enhance performance and live more fulsome lives. We do this by bridging modern science with indigenous traditions to remove barriers to access psychedelics and make them easier to administer and ingest. 

Company’s most successful achievement: There are a number of developments of which I feel a great sense of pride, but I think it would be to recognize, as an early mover in functional mushrooms and psychedelics, the importance of having a path to consumers that would allow them to become educated on the health and wellness benefits of mushrooms and the important role that functional mushrooms play in the education and widespread acceptance of the transformative and healing power of psychedelics. With those considerations in mind, we identified the need for a globally recognized, trusted and relevant brand partner and were successful in entering into an exclusive global collaboration with the family and estate of legendary musician Bob Marley.

Has the company raised any capital (yes or no): Yes 

If so, how much?: C$5.1 million in our recent round 

Any plans on raising capital in the future? As we grow, operationalize and further expand the business plan, we expect there will be additional funding rounds to fund our global expansion plans.

 Most important company 5-year goal: To establish ourselves as a leading global psychedelics and wellness company that offers products that are helping to support people in leading better, more rewarding, and more fulfilling lives. With the estate of Bob Marley and the brand we are developing together, we will create the first-ever global mushroom brand. Over time, we will introduce a portfolio of quality branded products with the intention of becoming the leading global brand in the functional and psychedelic mushroom category.

 


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