YUKOTERRE HOLDINGS (YT.C) / SILO
If you were one of those who contributed part of the $350k mining explorer Yukoterre Holdings raised in IPO last September, and have been wondering what the hell that company was doing with your money other than rewarding its executives with options – three financial quarters later, your questions have been answered.
Silo was founded in Oregon and has been in the psychedelics and functional mushroom space since 2018 and ultimately formulated and announced a patent-pending psilocybin nasal spray in Jamaica in 2019. This metered-dosing delivery modality was created for consumer microdosing to address some of the primary issues that may prevent many from trying natural psychedelics for the first time, including dose reliability, taste, stomach upset and stigma. Its primary benefit is an uptake speed that is faster than nature intended for convenience and to help prevent dosage stacking, a problem that is most well known from cannabis edibles overdosing.
What’s interesting here is, this is interesting.
As a relative newcomer to the psychedelics space, the issue of dosage stacking and stomach upset is really quite the issue that prevents me actively microdosing. I love the effects of shrooms, really enjoy the ego removal, the euphoria without losing one’s mind, the ability to function while enjoying micro-benefits… but geez, does it make my stomach turn.
A fast acting, consistently dosed delivery option that won’t have my stomach fighting the ingredients would be a godsend for me.
In addition to its IP (intellectual property) portfolio, Silo is focusing on consumer product and wellness centre/retreat brand development for psychedelic and functional mushrooms. Its go-to-market revenue strategy includes scaling its U.S. Silo Reboot brand of functional mushrooms and its magic mushroom cultivation and psychedelic retreat operations in Jamaica. Following the proposed transaction, Silo anticipates that it will continue to grow its operations organically and by strategically integrating complementary businesses to its operations.
Translated: There’s really not that much revenue available just yet, but they’ll engage in placeholder business activity selling products here and there, to be prepared for the inevitable law relaxations that are ongoing but a long way from complete.
The products, I must say, appear to be real and not dissimilar to those found in Canada on various online mushroom dispensary sites. The Jamaican retreat site looks indepth, though it’s hard to tell if there’s any profit there or it it’s a lifestyle business at present.
SILO does offer white labeling of products, which could be profitable as the sector ramps up. But the kicker is the nasal spray IP. If it does what they say it does, and its defensible from competitors, that’s a real opportunity.
Whether one might be attracted to this as an investment opportunity, for mine, will come down to whether the folks from the shell SILO is going into are sticking around or exiting, and how quickly the industry moves from the grey market to white.
Certainly the anemic trading of the RTO company over the last nine months points to a need to tell their story loudly and often, and demonstrate legitimacy going forward.