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North American wellness firm Silo Wellness has pledged to contribute a percentage of its product sales from a new partnership with the family of the late Jamaican megastar Bob Marley to a local charity.
The announcement came amidst confirmation from Silo Wellness last Thursday that the wellness company, which focuses on the psychedelics and functional mushroom markets, had entered into a multi-year licensing agreement with the Marley family for exclusive worldwide rights to brand, market and sell a distinct psychedelic mushroom product line using the Marley brand.
"We are incredibly excited to strike a long-term licensing agreement with the most iconic brand to ever emerge from Jamaica," Silo Wellness's CEO said.
"There is deep respect for the legacy of Bob Marley, and we are honoured to be entrusted as good stewards of a brand that stands for universal wellness and natural healing. We look forward to introducing a portfolio of quality branded products with instant name recognition and global visibility, enabling Silo to introduce what we intend to become the leading brand name in the functional and psychedelic mushroom category," he added.
"These are transformative times in which we are living. Our family seeks to use our platform to help facilitate positive change. Mushrooms have been used for centuries, and we believe they offer a natural pathway for healing and positivity," commented Cedella Marley, daughter of Rita and Bob Marley
Thursday's announcement follows Silo Wellness's previously announced closing of its reverse takeover (RTO) transaction on March 1, 2021, and subsequent listing of the common shares of Silo Wellness on the Canadian Securities Exchange on March 5, 2021. Concurrent with the RTO, Silo Wellness completed an approximately CDN$5-million financing.
Silo also noted that, at the epicenter of the psychedelic mushroom movement, "Jamaica is the only country in the world where psilocybin is not illegal to grow, extract and sell, thereby positioning the island nation to directly benefit from wellness tourism as well as sales of psychedelic mushrooms".
Since its inception, Silo Wellness's activities have focused on: (1) development of psilocybin-free functional mushroom tinctures; (2) the development of the formulation of a psilocybin nasal spray in Jamaica; and (3) offering Jamaican and Oregon psychedelic wellness retreats as well as the cultivation of psychedelic mushrooms in Jamaica.
None of their products claim to cure or mitigate any physical or mental diseases, symptoms, disorders or abnormalities.
Magic mushrooms are wild or cultivated mushrooms that contain psilocybin, a naturally occurring psychoactive and hallucinogenic compound. Psilocybin is considered one of the most well-known psychedelics, according to the Substance Abuse and Mental Health Services Administration.
Founded in 2018, Silo Wellness is a 'spore-to-door' vertically integrated company that soft launched its legal functional mushroom e-store with eight tincture formulations in two size formats, available for purchase at SiloReboot.com. In addition to an online presence, it is exploring a first-of-its-kind brick and mortar retail operation in Ocho Rios, Jamaica where mushrooms will be offered in micro-dosing products, as well as functional and psilocybin-based psychedelic mushroom and truffle formats.
The full line of functional mushroom products to be launched under the Marley brand will be announced in the near future, along with a fully integrated marketing and communications campaign, which will include targeted digital advertising, social media presence, brand public relations and lifestyle marketing initiatives.