MONTEGO BAY–Silo Wellness Inc., a wellness company in the psychedelics and functional mushrooms, announced it has entered into a multi-year license 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.
“Our family is happy to collaborate with Silo Wellness to create the first ever global mushroom brand,” commented family matriarch Rita Marley. “When Bob and I were young we followed a strict, natural diet and we would include medicinal mushrooms. Mushrooms fit with our vision of a world transformed for good through natural products.”
“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,” stated Cedella Marley, daughter of Rita and Bob Marley.
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. The licensing agreement contemplates the development of a stand-alone Marley brand portfolio of functional and psychedelic micro-dosing mushroom products, formats, devices and promotional items. To honor the legacy of Bob Marley in Jamaica, Silo Wellness has pledged a percentage of product sales to be contributed towards a charitable organization to be mutually agreed upon between the Marley family and Silo, the details of which will be made public in a future announcement.
“We are incredibly excited to strike a long-term licensing agreement with the most iconic brand to ever emerge from Jamaica,” stated Douglas K. Gordon, Chief Executive Officer of Silo Wellness. “There is deep respect for the legacy of Bob Marley, and we are honored 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.”
Today’s announcement follows Silo Wellness’ previously announced closing of its reverse take-over transaction on March 1, 2021 (the “RTO”) and subsequent listing of the common shares of Silo Wellness on the Canadian Securities Exchange on March 5, 2021. Concurrently with the RTO, Silo Wellness completed an approximate C$5 million concurrent financing. Please refer to the press release of Silo Wellness dated March 1, 2021 for further details of the RTO and concurrent financing
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 different size formats available for purchase at SiloReboot.com. In addition to an online presence, Silo Wellness 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.
Silo Wellness has been an early mover in the functional and psychedelic mushroom space and has already announced its proof of concept of a patent-pending, micro-dosing nasal spray format that this new brand partnership could potentially include. 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.
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