Jamaica's Agriculture Minister Tours Wake Jamaica Mushroom Production Facilities
TORONTO, May 7, 2021 /CNW/ - Wake Network Inc. ("Wake" or the "Company"), a global leader in psilocybin and medicinal mushroom production and developer of genomics-based integration therapies, was pleased to welcome Hon Floyd Green, Jamaica's Minister of Agriculture and Fisheries, to the cultivation facility of its subsidiary Wake Jamaica Limited ("Wake Jamaica"), to walk through its state-of-the-art mushroom production facility with Wake Jamaica CEO Pauline Terri Smith.
Wake Jamaica has been producing psilocybin and medicinal mushrooms in Jamaica since September 2020 and has begun scaling operations for both domestic and international research and therapeutics.
Wake Jamaica's facilities, located in the heart of Jamaica's countryside, were visited by Hon. Green's team from the Ministry of Agriculture and Fisheries. "The Minister of Agriculture and Fisheries, Hon. Floyd Green expressed delight while reviewing mushroom cultivation at the Wake Jamaica Gold Standard Facilties on Sunday, April 25, 2021," CEO Pauline Terri Smith noted. "As he conducted his review of the nascent industry, he made it clear that Wake Jamaica has emerged as the clear leader in production, community engagement, and research."
Wake Jamaica is currently producing a diverse range of therapeutic mushrooms, including mushrooms containing psilocybin. A feature of its production model is the utilization of proprietary grow methods and a zero-waste bio feedback loop. As Jamaica is one of the few countries where the cultivation of psilocybin-containing mushrooms is legal, Wake Jamaica is working in conjunction with the Jamaican government to develop regulations and ministerial oversight of scaled production and export support.
"From the very beginning we have strived to ensure the highest standards of production and control procedures to set Wake Jamaica apart from other operators. We value our professional working relationship with the Jamaican Ministry of Agriculture and Fisheries and thank Hon. Floyd Green for his visit and interest in Wake" stated Nick Murray, Chief Executive Officer of Wake.
ABOUT WAKE NETWORK, INC.
Wake Network Inc. is a fungi bioscience company focused on advancing, through research, the field of psychedelic and fungi-based therapeutics. To address the growing need for psychedelic-assisted mental health support in medicine and society at large, Wake has partnered with academics, governments and best-in-class mycologists around the world. Wake is currently developing fungus-derived psilocybin and medicinal mushroom products and is making advancements in the engineering of novel psychedelic biologics, while working on proving out their safety through proprietary genetics-based integration therapies.
Caution Regarding Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements.
Forward looking statements are based on certain assumptions regarding the Company, including but not limited to expected growth, results of operations, performance, industry trends and growth opportunities. While the Company considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to dependence on obtaining and maintaining regulatory approvals, including federal, provincial, municipal, local or other licences, to operate and expand the Company's facilities; the Company's limited operating history and lack of historical profits; reliance on management; the Company's requirements for additional financing and the effect of capital market conditions and other factors on the availability of capital; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers; the development and implementation of medical protocols and treatment standard operating procedures for the use of psychedelic therapies; the Company's ability to successfully withstand the economic impact of COVID-19; the medical benefits, safety, efficacy, dosing and social acceptance of psychedelics; and the cultivation and harvest of psilocybe mushrooms; and any other factors or developments that may hinder the market or the Company's growth.
These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
For more information about Wake please visit our website www.wake.net
SOURCE Wake Network, Inc.
Nick Murray, CEO, Wake Network, E:[email protected], Tel: +1-833-925-3638; Investor Relations Press, Wake Network, E:[email protected], Tel: +1 416 842 9003; Press Contact, Krupa Consulting, E:[email protected]
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