Blue Water Ventures International, Inc. Signs Non-Binding Letter of Intent to Acquire Psycheceutical, Inc.

Miami, FL, Nov. 03, 2021 (GLOBE NEWSWIRE) -- via -- Blue Water Ventures International, (OTC: BWVI), has signed a non-binding letter of intent which contemplates a proposed acquisition of Psycheceutical, Inc. Following the closing of the anticipated acquisition, Psycheceutical would emerge as the surviving company with a name and symbol change to follow.

“The closing of this acquisition marks a pivotal event that will provide Psycheceutical with the opportunity to achieve its next level of corporate growth as we advance our promising psychedelic drug delivery technologies,” said Chad Harman, Psycheceutical CEO.

Completion of the transaction is subject to due diligence investigations by the relevant parties, the negotiation and execution of a definitive share exchange agreement, satisfaction of the conditions negotiated therein including the approval of the Company's Board of Directors, and the satisfaction of other customary closing conditions. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated. Further, readers are cautioned that those portions of the LOI that describe the proposed transaction, including the consideration to be issued therein, are non-binding.

About Psycheceutical, Inc. 

Psycheceutical, Inc. is using cutting-edge delivery technologies to develop safe and effective psychedelic pharmaceutical medicines. Powered by a team with more than 100 years' combined experience in development, regulatory approval processes, and commercialization across the pharmaceutical industry. Psycheceutical is on a mission to bring safety and efficacy to psychedelic compounds. Learn more at .

Forward-Looking Statements

This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to business and development plans. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this press release, and Blue Water Ventures International assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents filed with available at .

Contact:

BWVI Investor Relations

Roger Tichenor, CEO

(941) 345-5531

Psycheceutical, Inc. Investor Relations

Michael Hlavsa, CFO

(954) 868-7366

Kaia Roman, VP, Strategy & Communications

(831) 295-2111