PSYC Corporation (OTC:PSYC) a psychedelic news and information platform, has announced that the company incorporated Spotlight Media Corporation, its wholly owned subsidiary.
PSYC said that the move resulted from the intent of more effectively positioning the company to expand on its existing media ventures both within, and potentially outside, of the medicinal psychedelic industry.
“Our goal here with PSYC is to develop an all-encompassing, interconnected network of assets that are capable of supporting one another and becoming recognized staples within the ever-evolving psychedelic space and community," David Flores, the company’s CEO, said. "The incorporation of Spotlight Media Corp. as a subsidiary to PSYC creates an extremely sensible opportunity to compartmentalize the valuable media assets we assembled, such as Psychedelic Spotlight, The Psychedelic Investor, and our stake in PsycheDev."
Since launching Psychedelic Spotlight in 2020, the company contends it established a significantly valuable foothold within the burgeoning psychedelics industry and emerged as a recognized leader in the production of premium, industry-focused content.
"We believe this establishes a more clearly defined path for the Company to not only expand on current and future media-focused ventures, but potentially contribute to diversification opportunities that will have a direct impact on our revenue initiatives for the Company,” Flores continued. “As we continue to strive towards solidifying PSYC's position as a leader for medicinal psychedelics, we are committed to exploring strategies, in the coming months, that may optimize our ability to diversify our performing assets, both within and potentially outside of psychedelics, with the very clear objective of creating tangible value for PSYC's loyal shareholders."
Photo: Courtesy of Pawel Czerwinski on Unsplash
