Soul Tribes to Launch World's First Tax Exempt Psychedelics Bond
- Written by Newsfile
Detroit, Michigan--(Newsfile Corp. - June 22, 2023) - Soul Tribes International Ministries ("Soul Tribes" or the "Organization"), a 508(c)(1)(a) non-profit pioneer in the use of psychedelic therapy and spiritual healing to address the nation's mental health crisis, today announced the launch of the world's first tax-exempt bond offering (the "Offering") focused on the rapidly expanding plant-based psychedelic products space (Soulbonds.org[1]).
Bonds purchased through the Offering will carry a 10% (ten percent) annual coupon rate of return. In addition, all investment returns derived from bonds purchased through the Offering will be entirely exempt from municipal, state, and federal taxation pursuant to the Organization's 508(c)(1)(a) status as a Faith-Based Organization (see here[2] for proof of tax-exempt status). As an example, every $10,000 investment will generate $1,000 in interest income per year that is entirely tax-free.
To learn more about participating in this opportunity, please go to www.soulbonds.org[3].
"The introduction of the world's first tax-exempt psychedelics bond offering represents a significant milestone for the burgeoning psilocybin industry and a positive development for faith-based organizations such as Soul Tribes, as well as the broader community," said Shaman Bobby Shu, Founder of Soul Tribes International Ministries and Soulbonds.org. "The funds raised through these bonds will not only offer crucial capital resources but also provide investors with a meaningful opportunity to contribute to the well-being of the communities they serve."
Soul Tribes' visionary founders played an integral role in the passing of Detroit's Proposition E (2021), which decriminalized plant-based medicines for therapeutic purposes and authorized the commercialization of related therapy services in Detroit. Building on this legislation, proceeds from the bond offering will be utilized to advance the following four strategic initiatives:
- Renovation of a 60,000 square foot facility in Detroit to create a cutting-edge hub for psychedelic therapy and spiritual healing.
- Establishment of a world-leading sacrament dispensary, providing our members with access to sacred psychedelic plant products.
- Expansion of Soul Tribes' operations, offering a range of psychedelic spiritual therapy services.
- Development of new, inclusive housing infrastructure for veterans in Michigan.
Market research from PMI Market Insights projects the Global Mental Health Market to surpass an estimated value of $525 billion by 2030. Soul Tribes' management believes in spiritual psychedelics marketplace will emerge as the largest component of this market, representing tremendous potential.
Shaman Shu continued, "The launch of this tax-exempt bond offering is designed to leverage the scale and growth opportunities within the emerging psychedelics marketplace, generating substantial returns for new investors while supporting the establishment of a world-class large-scale psychedelics dispensary at the heart of our mission. Soul Tribes strives to provide access to spiritual pathways, sacred plants, and indigenous practices capable of fostering self-awareness, spiritual connection, and natural relief from anxiety, depression, and other mental health concerns. The net return on these bonds, particularly when compared to other investment opportunities on an after-tax basis, is unparalleled. Our legal opinion provides clarity to our position. And the impact we can achieve with this funding is immeasurable."
About Soul Tribes International Ministries
Soul Tribes International Ministries (www.soultribes.org[4]) is a 508(c)(1)(a) non-profit tax-exempt organization at the forefront of psychedelic therapy and spiritual healing for mental illness. We are dedicated to facilitating healing and growth within individuals and communities through traditional indigenous practices, including plant medicine, sound therapy, breathwork, and ceremonial work. We acknowledge the profound impact of trauma on the lives of millions of Americans and are committed to expanding access to scientifically and spiritually validated healing practices that empower individuals to overcome the debilitating effects of trauma through transformative, holistic experiences. For additional information please visit www.soulbonds.org[5] and join the tribe.
For investor or media inquiries, please contact:
Soul Tribes Investor RelationsPhone: 313-737-SOULEmail: ir@soulbonds.org[6]
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170991[7]
References
- ^ Soulbonds.org (api.newsfilecorp.com)
- ^ here (api.newsfilecorp.com)
- ^ www.soulbonds.org (api.newsfilecorp.com)
- ^ www.soultribes.org (api.newsfilecorp.com)
- ^ www.soulbonds.org (api.newsfilecorp.com)
- ^ ir@soulbonds.org (www.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/170991 (api.newsfilecorp.com)