Psychedelics Company Silo Wellness Announces $495,000 Strategic Equity Investment by Socially Conscious Metaverse and Psychedelics Holding Company Orthogonal Thinker

Toronto, Ontario–(Newsfile Corp. – February 3, 2022) – Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K70) (“Well-being of silos“or the”Society“), a leading global psychedelics company, is pleased to announce that it has entered into a subscription agreement (the “Subscription contract“) as part of a strategic investment (the “Transaction“) with Orthogonal Thinker, Inc. (“orthogonal thinker“) an arm’s length third party investor, pursuant to which the Company will issue 12,555,180 shares of the Company (the “Units“) for aggregate gross proceeds to the Company of US$495,000. Each unit will consist of one common share of the Company (“Ordinary share“) and one common share purchase warrant (each, a “To guarantee“) exercisable for one common share at a price per common share of C$0.05 for a period of two years after the date of issue. Within 180 days of the closing of the transaction (“Closing“), Orthogonal Thinker will purchase additional units (or convertible debt) for aggregate gross proceeds of US$505,000 based on the then current market price of the common stock.

Upon closing, David Nikzad and Jason Hobson of Orthogonal Thinker are expected to join the Company’s Board of Directors (the “adviceIn addition, Mr. Nikzad will be named Co-Chief Executive Officer and Mr. Hobson will be named Chief Operating Officer of the Company.

Douglas K. Gordon, Managing Director of Silo Wellness, said, “We are thrilled to combine Silo Wellness with Orthogonal Thinker. David Nikzad and his team at Orthogonal Thinker have done amazing things and we salute their strategic advice and cutting-edge vision. .”

David Nikzad, co-founder and CEO of Orthogonal Thinker, said, “We chose to invest in Silo Wellness because of their strong commitment to helping those in need on psychedelics through retreats in Jamaica and the partnership with the Bob Marley brand. We look forward to advising Silo Wellness on how best to develop Marley One and psychedelic retreats.”

Summary of Investor Rights Agreement

Concurrent with the closing of the Transaction, the Company and Orthogonal Thinker will enter into an investor rights agreement (the “Investor Rights Agreement“), under which Orthogonal Thinker shall have the right to nominate two candidates (each, a “Designated Investor“) for election to the Board of Directors and shall have the right to nominate the Chief Executive Officer of the Company and the Chief Operating Officer of the Company. The Investor Rights Agreement will also provide that Orthogonal Thinker will receive two additional candidate investors for election at the next general meeting of the Company (the “AGM“).

So long as Orthogonal Thinker owns at least 10% of the issued and outstanding common stock (on a fully diluted basis), Orthogonal Thinker will be entitled to certain participation and supplement rights further defined in the Rights Agreement. investor. In addition, the Investor Rights Agreement provides Orthogonal Thinker with certain registration rights with respect to its common shares.

Closing conditions

The transaction is subject to customary closing conditions and applicable regulatory approvals, including the receipt of certain voting support agreements from certain shareholders of the Company with respect to the AGM.

ABOUT WELLNESS SILO

Silo Wellness is a growth-oriented holding company focused on functional mushrooms and psychedelic opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 and based in Toronto, Silo Wellness operates in Jamaica and Oregon. Silo Wellness is a publicly traded company on the Canadian (CSE: SILO) and Frankfurt (FSE: CK70) 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, cultivation of psychedelic mushrooms and truffles in Jamaica, smart brick store development and mortar in Jamaica and intellectual property, initially focused on commercializing its dosed psilocybin nasal spray.

In March 2021, Silo Wellness announced a multi-year licensing 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. The Marley One range of functional mushrooms is available from www.MarleyOne.com.

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

For more information, please contact:

Silo Wellness Media Relations:
[email protected]

Silo Wellness Investor Relations:
(778) 383-6740
[email protected]

ABOUT THE ORTHOGONAL THINKER

Orthogonal Thinker is a holding company focused on health and wellness through clean label whole plant products, including psychoactive compounds. Orthogonal Thinker uses deep learning technology and emotional intelligence (EI) to uplift and empower humanity through plant medicine to set a new standard for mental health and wellness: a “new Farma standard”.

Contact data

Investor contacts:
David Nikzad
[email protected]

Media Contact:
Samantha Mullet
[email protected]
(858) 705-2529

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 facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement involving discussion of predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always using phrases such as “expects “, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budgets”, “expects”, “expects”, “estimates”, “believes ” or “intends” or variations of these words and expressions or indicating that certain actions, events or results “might” or “may”, “will”, “could” or “will” be expected 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 to, among other things, the closing of the transaction, the appointment of Mr. Nikzad and Mr. Hobson to the board and as officers of the company and the company’s future business plans. company. 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 which may cause actual results to differ. 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 Silo Wellness’s continuous disclosure documents 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 undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors should they change, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

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