Business
PSYC and Digital Acorn Ltd. Aim to Bring a First-of-its-Kind Psychedelic Hospitality-Focused Platform to Market
PSYC and Digital Acorn Ltd. Aim to Bring a First-of-its-Kind Psychedelic Hospitality-Focused Platform to Market.
About this update from Psyc Corporation
[{"type":"text","content":"\n PSYC Provides an Update on the “PsycheDev” Digital Mental Health App Concept LAS VEGAS, NV, July 06, 2022 (GLOBE NEWSWIRE) -- PSYC Corporation (OTCPink: PSYC) (“PSYC” or the “Company”) a media leader for the emerging sector of medicinal psychedelics and authorities behind Psychedelic Spotlight, a top ranking psychedelic news and information platform, is pleased to provide an update on the progress and status of its joint venture partnership with Digital Acorn Ltd. and ongoing co-development between the companies of the “PsycheDev” digital mental health platform. In the Fourth Quarter (Q4) of 2021, PSYC entered into a joint venture partnership agreement with Digital Spore, LLC, a wholly owned subsidiary of Digital Acorn Ltd., a private investment group focused on early stage and emerging growth companies. The expressed intent of the partnership has been on advancing the digital mental health technology concept known as “PsycheDev,” which the Company has been invested in since January 2021. Throughout the first few months of 2022, the companies elected to strategically reevaluate the core functionality and purpose of “PsycheDev” to identify a concept that they believe will more effectively serve the digital mental health and psychedelic sectors, both of which evolved significantly over the past year. “Our decision to develop this concept at a deliberately meticulous and methodical pace is something that we’re confident will prove to be advantageous for both PSYC and Digital Acorn in terms of the long-term value we believe each company can realize through this venture,” said PSYC CEO David Flores. “Our focus has always been to develop and deliver a digital resource which meets the long term needs of our target audiences, as opposed to rushing an untested piece of tech to market in a shortsighted attempt to capitalize on short term trends.” Flores continued, “Over the past few months, we took time to note changes in the landscape of the digital mental health and psychedelic sectors, and more specifically the unique connection evolving between the two. Moreover, we’ve been listening to professionals and individuals immersed within each of these communities to better understand the shortcomings, challenges, and benefits...