Silo Wellness Inc. (SILFF)

[Jose Chavez]

The Company's May 2022 letter of intent with Dyscovry Science is still active and that transaction is still expected to close with documents being finalized by the respective attorneys. Additionally, following the 20-1 share consolidation that occurred at the May shareholders meeting, the Company has seen its total shares issued increase due to debt conversions from the first two funding tranches received from the financing announced in April. The Company is in active discussions with other potential finance groups regarding debt restructuring and a potential private placement which would be contingent on renegotiating the April debt financing terms. The company has retained three f The Company may also spinout retreat assets into a separate wholly-owned subsidiary for an Oregon-specific capital raise. Use of proceeds for that would be include closing on a psilocybin service center property, BM 109 licenses fees and expenses, property improvements necessary for licensing, legal fees, marketing, and other administrative and operations costs.