New Mexico Governor Signs Bill Allowing for Psilocybin Use

Associated Press

09-04-2025

'Medical Psilocybin Act' Provides Legal Access to Citizens for the First Time
LAS VEGAS, NV / ACCESS Newswire / April 9, 2025 / Hypha Labs, Inc. (OTCQB:FUNI), a pioneer in functional mushroom sciences and the creator of the MicroPearls™ suite of products, is pleased to announce that New Mexico governor Michelle Lujan signed SB 219, the Medical Psilocybin Act, which will establish the third state-legal psilocybin access system in the United States.
The Medical Psilocybin Act will provide patients with specific qualifying conditions to obtain the psychedelic and to use it under the guidance of a licensed healthcare provider.
'Today is another watershed event for functional mushrooms and the growing acceptance of their practical use in an array of applications,' stated Hypha Labs Chief Executive Officer, Stone Douglass. 'And it is long overdue.'
'As we embark on our journey to create the first device of its kind which will truly democratize mushroom ingredient production by allowing an individual to produce their desired 'crops' in predictable eight day cycles from the privacy and comfort of home, transformative events like this both affirm our mission and expand our market.'
'We believe as the legislative dominoes fall that other jurisdictions will see the successes in places like New Mexico as a template for their own jurisdictions,' added Douglass.
'We are at a tipping point.'
About Hypha Labs, Inc.
The company has developed revolutionary, cutting-edge technology focused on new methods of producing the active ingredients found in a wide array of functional mushrooms using its patent-pending mushroom accelerators. The Company is positioning itself to play an important role in the burgeoning Functional Mushroom industry in addition to being a disruptive force in future and emerging mushroom opportunities. Visit us at HyphaLabs.com.
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