PSYC Set to Relaunch Bonfire with
"Psychedelics for Beginners" Online Course
LAS VEGAS, NV -- April 12, 2023 -- InvestorsHub NewsWire --
PSYC Corporation (OTC
Pink Market: PSYC) ("PSYC", "PSYC Corp" or the "Company"),
parent company to Spotlight Media
Corporation ("SMC" or the "wholly owned subsidiary"), a
multimedia leader for all things psychedelics including the
emerging medicinal psychedelics market sector, is pleased to
provide shareholders with an update on its Bonfire community
platform, which is scheduled to relaunch May 1st with several new
features and a revamped business model that, according to the
Company, is more effectively suited for monetization, growth, and
scalability.
In late Q4 of last year, Management agreed to pause any ongoing
development with Bonfire following a market test of the platform
that ran for the previous six months, citing apprehension with the
platform's scalability potential and coinciding with the
resignation of Jack Bunce, who led the project's development
throughout most of 2022.
Bonfire was launched by the Company and its partners in the
project, Digital Acorn, Ltd. in mid 2022 with the intent of
developing a community-focused platform designed to help
individuals connect, learn, and explore the potential of
psychedelic integration for a happier, healthier, more meaningful
life.
Management contends that the pause provided PSYC with a unique
and highly valuable opportunity to carefully analyze data and
information collected throughout last year's market test, as well
as taking a deep dive into current market trends to better
understand market fit and long-term scalability potential. The
resulting efforts evolved into the new, completely redefined
platform commencing with Bonfire's "Psychedelics for Beginners Free
Online Course," now open to the public for enrollment and is
scheduled to begin on May 1st.
Bonfire's course plans to take individuals on a 30-day journey
to uncover the potential of psychedelic integration and gain
insight into working with these powerful substances in a safe,
responsible, and purposeful manner.
Current plans are to utilize this initial 30-day course as the
basis for additional courses that will be developed and ultimately
become the centerpiece of the Bonfire community.
"The redevelopment and relaunch of Bonfire is certainly
something that is a long time coming for us," said PSYC CEO, David
Flores. "We could have easily chosen to try and rush things with
this, but we felt it was important to gain the best understanding
possible of where the market is right now, where it is trending,
and how we can most effectively position Bonfire for long-term
success.
Despite the volatility that has been present in the biotech side
of the psychedelics space over the past several months, we continue
to see a steady increase throughout a strong contingency of society
in psychedelics, and more specifically in psychedelic integration
and other alternative healing modalities and which we believe is
evidenced in the ongoing growth of our Psychedelic Spotlight
platform (see press
release from April 5, 2023).
Our goal here with Bonfire's relaunch is to truly leverage the
authority we've meticulously developed through Psychedelic
Spotlight and utilize it strategically to position Bonfire as the
largest and most prominently integrated community platform for the
entire psychedelic space.
Much of the emphasis during this redevelopment stage focused on
three primary factors: Quality and value, safety and
responsibility, and revenue scalability potential. We are quite
confident now that the tangible and intangible gains made during
our market pause and pivot provide PSYC with a definitive grasp on
how to infuse these equally important factors into our new,
improved version of Bonfire. Despite proceeding in our usual,
cautious marathon vs sprint mentality, we are incredibly confident
in the significant opportunity for Bonfire to become a key value
and growth driver for PSYC in both the near and long-term through
its revenue subscription model."
PSYC Chief Brand Officer, Sacha G. Hebbert, who is spearheading
Bonfire's redevelopment project in recent months added, "After
taking a deep dive into the metrics associated with Psychedelic
Spotlight's audience to gain a better understanding of who they are
and where their preferences lie, we were encouraged to learn
roughly 24% are paying membership fees for mindful content and
alternative wellness courses or apps.
We also had an overwhelming response to our initial offering,
"Psychedelics for Beginners" Free Online Course, with over 450
registrants within the first two weeks of announcement, which we
believe further demonstrates the tangible consumer base PSYC will
tap into through Bonfire.
Macro trends already indicate scores of individuals actively
seeking and in need of alternative healing modalities outside
the tired pharma model. Bonfire has a unique opportunity to become
a highly attractive gateway to tried and true self-help and
healing, such as psychedelic integration.
We've gained significant confidence in our ability to position
Bonfire's product market fit in every avenue of the psychedelic and
wellness sectors that can drive and deliver value to consumers as
well as PSYC shareholders."
For anyone interested in joining Bonfire's "Psychedelics for
Beginners" Free Online Course, please visit the Bonfire
Community page on Psychedelic Spotlight to sign up.
About PSYC Corporation (OTC
Pink Market: PSYC)
PSYC Corporation (the "Company" or "PSYC") is a
forward-thinking multimedia leader for progressive and emerging
market sectors such as medicinal psychedelics and cannabis.
Management's assessment is that through the diversified
collection of multimedia platforms the Company owns and operates,
and most specifically through the news, information, and engaging
content they each produce and publish respectively, PSYC has
effectively positioned itself at the forefront of some of today's
most dynamic and opportunity-filled market sectors.
About Spotlight Media Corporation
Spotlight Media Corporation ("SMC") (www.spotlightmediacorp.com)
is a Nevada Corporation and is a privately held wholly owned
subsidiary of PSYC that was incorporated on February 8, 2022.
SMC currently owns and operates Psychedelic Spotlight which,
according to the Company, has emerged as a recognized
industry-leading multimedia platform dedicated to covering the
growing movement across society involving psychedelic-assisted
healing. Additionally, SMC also operates Bonfire, a
community-focused, consumer-facing platform being developed to
effectively meet the demands linked to the expanding interest and
curiosity across society related to the healing and therapeutic
wonders of psychedelics and other plant based and holistic
modalities.
SMC's service-focused media platforms include Technical
420, On the Bids, and Mushroom
Stocks which each serve publicly traded companies operating in
the sectors of cannabis, mining and precious metals, and medicinal
psychedelics and have become valuable informational resources for
individuals following each of these respective market sectors.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. In some cases, you can identify forward-looking statements
by the following words: "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "ongoing," "plan,"
"potential," "predict," "project," "should," "will," "would," or
the negative of these terms or other comparable terminology,
although not all forward-looking statements contain these words.
Forward-looking statements are not a guarantee of future
performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. Forward-looking statements are based on
information available at the time the statements are made and
involve known and unknown risks, uncertainty and other factors,
including the effect of COVID-19 and the success of the current
vaccine distribution, the adverse effect of the Omicron variant,
that may cause our results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by the forward-looking statements in this
press release. This press release should be considered in light of
all filings of the Company that are disclosed on the OTC
Markets.com website and is not incorporated by reference into such
reports.
Disclaimer: PSYC Corporation does not in any way encourage
or condone the use, purchase, sale or transfer of any illegal
substances, nor do we encourage or condone partaking in any
unlawful activities. We support a harm reduction approach for the
purpose of education and promoting individual and public safety. If
you are choosing to use psychedelic substances, please do so
responsibly.
Corporate Contact:
PSYC Corporation (PSYC)
www.psyccorporation.com
www.spotlightmediacorp.com
(702) 239-1919
info@psyccorporation.com
OTC
PINK MARKET: PSYC
PSYC (PK) (USOTC:PSYC)
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PSYC (PK) (USOTC:PSYC)
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