LAS VEGAS, Nev., March 12, 2024 (GLOBE NEWSWIRE) — PSYC Corporation (OTCPink: PSYC) (“PSYC” or the “Company”) has issued ten previously issued convertible debentures (the “Debentures”). announced the integration of The Notes were entered into between the Company and long-time investment partner RB Capital Partners, Inc. (“RB Capital”) and were originally issued between January 2023 and October 2023. .
The consolidated bond has an interest rate reduced from an initial 10% to 8% and a term of 24 months. In addition, the stock exchange rate for this newly issued consolidated note will be set at $0.05.
RB Capital is the company's largest bondholder, and the company views this combination as a sign of its continued confidence in and commitment to the company's long-term growth potential.
Additionally, we believe that this commitment reflects a fundamental and strategic shift in management and preparation for a new business model that the incoming management team recognizes is one that is more fundamentally structured from a cash flow perspective. I believe that we are at an extremely important crossroads in preparing for the future. We hope that shareholder confidence will be reinvigorated and that PSYC's potential will be appreciated.
In the coming days, the company will announce further information regarding its new management team. Information will also be provided regarding the transition of our core business operations, which we claim will focus on the online gaming market sector.
About CYC Co., Ltd. (OTC Pink Market: PSYC)
Since early 2020, PSYC Corporation (the “Company” or “PSYC”) has operated as a forward-thinking multimedia leader in progressive and emerging market sectors such as medical psychedelics and cannabis.
We remain committed to identifying cutting-edge, value-driven technologies and market sectors for the benefit of our shareholders.
We are currently carefully investigating the feasibility of various non-multimedia business opportunities, with a particular focus on those opportunities that we believe will increase shareholder value.
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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. “anticipate”, “believe”, “continue”, “may”, “estimate”, “expect”, “intend”, “may”, “ongoing”, as the case may be; Forward-looking statements may be identified by the following words: “”, “plans”, “may”, “anticipates”, “predicts”, “should”, “will”, “would”, or the negative of these terms. or other equivalent term. However, not all forward-looking statements include these. words. Forward-looking statements are not guarantees of future performance or results, nor are they necessarily accurate indications of when such performance or results will or will be achieved. Forward-looking statements are based on information available at the time the statements are made and are subject to known and unknown risks, uncertainties, and information expressed or implied regarding our results, level of activity, performance or achievements. and other factors that may cause it to differ significantly. According to the forward-looking statements in this press release. This press release should be considered in light of all of the Company's filings as disclosed on the OTC Markets.com website and is not incorporated by reference into such reports. The information contained in this press release should not be construed as an indication of the Company's future, earnings, results of operations, or stock price.
Disclaimer: PSYC Corporation does not encourage or condone the use, purchase, sale, or transfer of any illegal substances in any way. Additionally, we do not encourage or condone participation in illegal activities. We support harm reduction approaches aimed at promoting education and personal and public safety. If you use psychedelic substances, do so under medical supervision and act responsibly.
Corporate contact:
CYC Co., Ltd. (PSYC)
www.psyccorporation.com
(702) 239-1919
info@psyccorporation.com
OTC Pink Market: PSYC
