Silo Pharma Feedback on Latest Promotional and Buying and selling Activities at Request of OTC Market

NEW JERSEY , Dec. 04, 2020 (GLOBE NEWSWIRE) — Silo Pharma, Inc. (OTCQB: SILO) a developmental stage biopharmaceutical firm centered on using psilocybin as a therapeutic, at the moment introduced that it has been requested by the OTC Markets Group (“the OTC Markets”) to touch upon latest promotional exercise.

The Firm grew to become conscious of sure promotional actions regarding its frequent inventory on December 1, 2020, by a notification from OTC Markets, which included three (3) digital newsletters (collectively, the “Supplies”) ready by third events; certainly one of which was ready and circulated by every of Worthwhile Dealer Authority, Penny Inventory Prophet and OTC TIP Reporter, respectively. The Firm was not conscious of the Supplies previous to receiving copies from the OTC Markets.

Starting in May 2020, the Firm has used Hayden IR as its investor relations agency. Hayden’s position is to offer certain investor/public relations, web improvement, communications and consulting providers on the Firm’s behalf. As well as, in October 2020, the Firm engaged Emerging Markets Consulting, LLC to help with the design, improvement and dissemination of company info, and it engaged CNA Finance, LLC and Jolt Communications, Inc. to offer sure advertising providers and strategic recommendation, together with the preparation of a characteristic articles, help with publication of distinctive and business articles, and dissemination of content material by way of social media and conventional channels.

Based mostly upon inquiry of administration, administrators, management individuals and third-party service suppliers, neither the Firm, nor its officers have been concerned, immediately or not directly, with the creation, distribution or fee of the Supplies, nor did they’ve discover of or editorial management over the content material of the Supplies previous to their dissemination. As well as, primarily based upon inquiry of third-party service suppliers engaged by the Firm to offer investor relations providers, public relations providers, advertising, or different associated providers together with promotion of the Firm or its securities within the final twelve months, the supplies have been unrelated to any work carried out by any of the third-party suppliers .

The Firm acknowledges that the distribution of the supplies coincided with increased than common buying and selling quantity within the Firm’s frequent inventory, nevertheless, the Firm has no information or opinion as as to if or not the supplies themselves affected buying and selling exercise. Many different elements, together with however not restricted to just lately issued press releases, might have had an affect on buying and selling quantity. Particularly, on December 2, 2020, the Firm introduced that it has entered into an investigator-sponsored research settlement with Maastricht College of the Netherlands for a Part 2B Investigator lead research utilizing psychedelics psilocybin and LSD to deal with Parkinson’s Illness. This announcement follows the Firm’s efforts, which started earlier this 12 months, to discover alternatives to broaden its enterprise by in search of to amass and/or develop mental property or expertise rights from universities and researchers to deal with uncommon neurological issues. Extra vital actions taken and bulletins made by the Firm this 12 months have included the formation of a wholly-owned subsidiary, Silo Pharma, Inc., within the State of Florida, securing of the area identify www.silopharma.com, the completion of an roughly $2.5 million non-public placement providing of frequent inventory, the itemizing on the OTCQB Enterprise Market, addition of Kevin Munoz MD to its Board of Administrators, coming into into of a industrial analysis settlement with the College of Maryland Baltimore for Central Nervous-Homing Peptides, creation a Scientific Advisory Board and appointment of Dr. Matthew Hopkins of Johns Hopkins College and Dr. Joshua Woolley of College of California, San Francisco, and the submitting of three U.S. provisional patent purposes with the U.S. Patent and Trademark Workplace pertaining to the central nervous system supply of distinctive anti-inflammatory therapeutics coupled with psilocybin. The Firm believes that such actions and bulletins might have been a major issue within the improve within the buying and selling quantity of its frequent inventory.

The Firm acknowledges that the statements made by the unrelated third events could also be deemed to have inspired buyers to buy frequent inventory of the Firm within the open market.  Additional, the Firm has decided that sure statements included within the Supplies may be deceptive and/or incomplete. The Firm disclaims any doubtlessly deceptive or exaggerated statements within the supplies, and readers of the supplies shouldn’t place undue reliance on the supplies. The Firm doesn’t condone using sensational language to explain the Firm’s enterprise prospects or any statements made relating to the urgency of investing within the Firm’s frequent inventory, or every other comparable statements. The Firm additional notes that investing within the Firm’s securities includes sure dangers and uncertainties that buyers ought to evaluate prior to creating any funding resolution. The Firm encourages all buyers to undertake correct due diligence and thoroughly take into account all funding choices and directs all potential buyers to depend on its filings and disclosures made with the SEC, that are accessible at www.sec.gov and out there on the disclosure web page for SILO on the OTC Markets web site at www.otcmarkets.com.

Upon inquiry of administration, administrators, management individuals and third-party service suppliers, to the Firm’s information, primarily based upon filings made with the SEC and different info out there to the Firm, in the course of the previous 90 days, no such individuals executed any buy or gross sales transactions of the Firm’s securities.

The OTC Markets has additional requested that the Firm state whether or not it has issued any shares or convertible devices permitting conversion to fairness securities at costs constituting a reduction to the present market fee on the time of the issuance.  The Firm represents, as disclosed in its filings with the Securities and Alternate Fee (“SEC”), that’s has issued devices permitting conversion to fairness securities at mounted costs constituting a reduction to the present market fee on the time of the issuance, as extra absolutely described under.

In April 2013, the Firm entered right into a Inventory Buy Settlement with an accredited investor for the sale of 4,000 shares of Sequence A Convertible Most well-liked Inventory (the “Sequence A Most well-liked Inventory”) for $400,000. In October 2019, the Firm entered right into a Securities Buy Agreements with accredited buyers for the sale of a convertible promissory be aware within the mixture principal quantity of $330,000 (the “Notes”), and a warrant to buy as much as 1,650,000 shares of the Firm’s frequent inventory, for internet proceeds of $295,000, internet of origination subject low cost of $30,000 and charges of $5,000. In November 29, 2019, the Firm entered right into a Sequence B Most well-liked Inventory Buy Agreements with accredited buyers for the sale of an mixture of 115 shares of the Firm’s Sequence B Most well-liked inventory (the “Sequence B Most well-liked Inventory”), plus warrants to buy an mixture of 575,000 shares of frequent inventory, exercisable at a worth of $0.20 per share, for gross proceeds of $115,000. In April 2020, the Firm entered into Alternate Agreements with the holders of our Sequence B Convertible Most well-liked Inventory pursuant to which the holders agreed to change their Sequence B Most well-liked Inventory for an mixture of 1,437,500 shares of our Frequent Inventory, at a worth of $0.08 per share, and with the holders of our Notes pursuant to which the holders agreed to change their Notes for an mixture of 4,125,000 shares of our Frequent Inventory, at a worth of $0.08 per share. After the exchanges, there are not any share of our Sequence B Convertible Most well-liked Inventory or Notes excellent. On August 3, 2020, we transformed 4,000 Sequence A Most well-liked Inventory into 2,000,000 shares of our frequent inventory, at a worth of $0.20 per share. After the conversion, there are not any shares of our Sequence A Most well-liked Inventory excellent.

About Silo Pharma

Silo Pharma, Inc. is a developmental stage biopharmaceutical firm centered on merging conventional therapeutics with psychedelic analysis for folks affected by indications comparable to melancholy, PTSD, Parkinson’s, and different uncommon neurological issues. Silo’s mission is to establish property to license and fund the analysis which we consider shall be transformative to the well-being of sufferers and the well being care business.  For extra info, go to www.silopharma.com.

Protected Harbor and Ahead-Wanting Statements

This information launch accommodates “forward-looking statements” throughout the which means of the “safe-harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. These statements are recognized by means of phrases “might”, “consider”, “anticipate”, “intend”, “estimate”, “count on”, “might”, “proceed”, “predict”, “potential” and comparable expressions which can be meant to establish forward-looking statements. Such statements contain identified and unknown dangers, uncertainties and different elements that might trigger the precise outcomes of Silo Pharma, Inc. (“Silo” or “the Firm”) to vary materially from the outcomes expressed or implied by such statements, together with adjustments to anticipated sources of revenues, future financial and aggressive circumstances, difficulties in growing the Firm’s expertise platforms, retaining and increasing the Firm’s buyer base, fluctuations in client spending on the Firm’s merchandise and different elements. Accordingly, though the Firm believes that the expectations mirrored in such forward-looking statements are cheap, there will be no assurance that such expectations will show to be right. The Firm disclaims any obligations to publicly replace or launch any revisions to the forward-looking info contained on this presentation, whether or not on account of new info, future occasions or in any other case, after the date of this presentation or to replicate the prevalence of unanticipated occasions besides as required by regulation.

Investor Relations Contact:                                     

Hayden IR

Brett Maas
646-536-7331
Electronic mail: brett@haydenir.com