$PSYC digital media leader within the emerging sec
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Posted On: 01/22/2021 12:11:59 PM
$PSYC digital media leader within the emerging sector of medicinal psychedelics, is pleased to announce that the Company has entered into a Memorandum of Understanding (“MOU”) with PsycheDev Inc. (“PsycheDev”), a Canadian based start-up company focused on the development and deployment of technology-driven mental wellness-enhancing solutions.
In effect, the execution of the MOU outlines the general terms to be applied by each of the respective companies in entering into advanced discussions surrounding the intended establishment of a Joint Venture Partnership Agreement (the “JV”) which will focus on the effective co-development and launch of the PsycheDev platform and app. Furthermore, it is the intent of PSYC, via the anticipated execution of a JV, to acquire an equity stake in PsycheDev through a capital investment and to work alongside the company’s Founder and CEO, Justin Roy, to bring their cutting-edge digital mental health platform to market during the latter quarters of 2021. No assurances can be provided that the JV will be consummated or that the underlying business will be profitable.
“We are extremely pleased to advance our discussions with PsycheDev through the execution of this MOU,” said Global Trac Solutions, Inc. CEO, David Flores. “Our collective focus over the next several days will be to meticulously work through the process of finalizing a JV Partnership Agreement with them so that we can formally begin collaboration efforts. In my opinion, this represents a unique, exciting, and value-driven opportunity for PSYC to collaborate on the development of this highly intriguing early-stage concept and position ourselves to enter the burgeoning sector of digital mental health.”
In effect, the execution of the MOU outlines the general terms to be applied by each of the respective companies in entering into advanced discussions surrounding the intended establishment of a Joint Venture Partnership Agreement (the “JV”) which will focus on the effective co-development and launch of the PsycheDev platform and app. Furthermore, it is the intent of PSYC, via the anticipated execution of a JV, to acquire an equity stake in PsycheDev through a capital investment and to work alongside the company’s Founder and CEO, Justin Roy, to bring their cutting-edge digital mental health platform to market during the latter quarters of 2021. No assurances can be provided that the JV will be consummated or that the underlying business will be profitable.
“We are extremely pleased to advance our discussions with PsycheDev through the execution of this MOU,” said Global Trac Solutions, Inc. CEO, David Flores. “Our collective focus over the next several days will be to meticulously work through the process of finalizing a JV Partnership Agreement with them so that we can formally begin collaboration efforts. In my opinion, this represents a unique, exciting, and value-driven opportunity for PSYC to collaborate on the development of this highly intriguing early-stage concept and position ourselves to enter the burgeoning sector of digital mental health.”
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