Silo Wellness Inc. announced a nationwide distribution partnership with Essex-based U.K. brand distributor LocoSoco Group Plc, pursuant to a distribution agreement dated August 4, 2021. The Distribution Agreement stipulates LocoSoco as the exclusive U.K. distributor for Silo Wellness' full portfolio of Marley One branded mushroom products. This partnership announcement comes on the heels of Silo Wellness' launch of Marley One, the first global functional and psychedelic mushroom consumer brand, created in collaboration with the family of legendary musician Bob Marley.

The Distribution Agreement cements a solid route to market for Marley One products that can keep pace with consumer demand across the region. Silo Wellness is also the first global psychedelics company to access the nationwide network of a large- scale distributor to reach consumers across the U.K. at mainstream retail stores. LocoSoco will distribute the full line of Marley One mushroom products, beginning with the brand's initial five functional mushroom tinctures, to independent retailers, buying groups, health food stores, online retailers and influencers and their e- commerce affiliates, across the United Kingdom.

The exclusive distribution by LocoSoco is based on a minimum commitment of orders with a value of USD 1.4 million of Marley One products. The Agreement reflects consumer demand for mushroom-based wellness products and the market potential for functional mushrooms in particular, which constituted a GBP 18,409 million, or USD 25,415 million market globally, in 2020, according to Mordor Intelligence. The global psychedelic drugs market at large is projected to reach USD 6.85 billion by 2027, growing at a CAGR of 16.3% over the next eight years, according to Data Bridge Market Research.

The initial portfolio of Marley One mushroom products is a range of functional mushroom tinctures with unique blends highlighting the brand's connection to Jamaica. Marley One mushroom tinctures include species such as cordyceps, lion's mane, chaga, reishi and turkey tail that offer a range of distinct health and wellness benefits, from improved immunity and gut health to cognitive function and sleep enhancement. The company intends to launch a psychedelic mushroom product line under the Marley name later this year, to be followed by additional functional mushroom products including gummies, capsules and cosmetics.

LocoSoco will be the sole distributor of Marley products across the U.K.