Palm Beach, FL – November 5, 2019 — Research into psychedelics for the treatment of anxiety, depression, and other mental illnesses has only begun to expand – and investors are excited. Studies have already shown that when it’s “ingested it transforms into a psychoactive chemical in the body that might help dramatically reduce symptoms of depression, messing with the brain’s pre-frontal cortex, which affects our mood and perception of things and another part of your brain, that’s a part of processing emotional reaction to fear and anxiety,” as reported by Spectrum News. Plus, in recent months, Johns Hopkins Medicine announced the launch of the Center for Psychedelic and Consciousness Research to study compounds like LSD and psilocybin to treat a range of mental health problems, including anorexia, addiction and depression. Psychiatrists at Johns Hopkins University even found that mushrooms can help with smoking cessation, and another study found it can assist with alcohol dependence, for example. Researchers at New York University found psilocybin mushrooms caused a “rapid and sustained” reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. Better, over the last year, Denver, Colorado, and Oakland, California decriminalized the possession of products containing psilocybin or psilocin. As excitement builds, it’s opening a range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), The Supreme Cannabis Company Inc. (TSX:FIRE) (OTCQX:SPRWF), and Flowr Corporation (TSX-V:FLWR) (OTCPK:FLWPF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that on November 4, 2019 it entered into a definitive agreement to license 126 formulas based on ancient Ayurvedic medicine to its wholly owned subsidiary Flourish Mushroom Labs for use in products infused with functional or magic mushrooms for a 50 year term. The Yield Growth licensed formulas include skin care formulas such as face masks, body oils, creams, face oils, exfoliants, food and beverages formulas such as teas, ayurvedic herbal blend formulas, and other wellness formulas for the purpose of developing, manufacturing, marketing and selling products worldwide, excluding Canada. The formulas may be used in foods, beverages, personal care, skin care, cosmetic and other wellness products that are infused with functional mushrooms or psilocin or psilocybin (magic mushrooms) or any combination thereof. In consideration for the non-exclusive 50 year license, Flourish Mushroom Labs has agreed to pay $3,000,000 to Yield Growth. The fee is payable as follows: $1,800,00 payable as 90 million common shares of Flourish Mushroom Labs to be issued to Yield Growth at a deemed value of $0.02 per share, which shall be subject to escrow provisions pursuant to NP 46-201. The remaining sum of $1,200,000 may be paid in cash over 24 months, but if Flourish Mushroom Labs is successful in listing its stock on a Canadian stock exchange under the symbol “MUSH”, which symbol has already been reserved, within 6 months, then $200,000 shall be deducted from the purchase price, and if a listing is achieved between 6 – 12 months, then $400,000 shall be deducted from the purchase price. This acquisition by Flourish Mushroom Labs adds to its existing catalogue of mushroom based coffee, teas, elixirs, soups and other edibles. Flourish Mushroom Lab intends to begin commercialization of its extensive catalogue with mushroom-based soups and coffees. “We are positioning Flourish Mushroom Labs to be a key player in the fast growing international functional mushroom market,” says Penny White, Yield Growth CEO. “Flourish Mushroom Labs also acquired the rights to infuse the products in its newly acquired formulas with psychedelic mushrooms, where it’s legal to do so.”
Other cannabis-related developments from around the markets include:
The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF) unveiled a new strategic plan, including a series of actions to reduce the Company’s financing requirements while maintaining its path to profitability. These actions will result in increased agility, lower capital requirements and an optimal production capacity to serve the organic segment. “These actions are logical next steps in TGOD’s road to profitability. While we are committed to – and our strategy continues to leverage – our unparalleled scale as an organic producer as well as our international assets, we have identified areas where our scale would not provide for meaningful returns in the near term given the slower pace of legal market conversion. We will optimize our operating efficiency by deferring excess capacity and expenses, whether they center on production facilities, international expansion projects or technology,” commented Brian Athaide, CEO of TGOD. Given current market conditions, the Company is adopting a new construction and operating plan to reduce its cash needs, with a prudent production ramp leading to expected positive operating cash flow in Q2 2020. The Ancaster greenhouse is complete, and the Ancaster processing facility is approximately five weeks from material completion. TGOD’s large scale project in Valleyfield, Quebec will be demarcated into smaller phases, with more to be completed once the market further develops.
Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) announced updates on key developments in the United Kingdom and Luxembourg. In these countries, the Company’s pharmaceutical business, Spectrum Therapeutics, continues to expand its sophisticated, pan-European cannabis production and distribution network serving the needs of physicians and their patients. Canopy Growth is committed to transforming healthcare in Europe by providing better access to medical cannabis treatments that have the potential to improve the lives of millions of patients. In the UK, Spectrum Therapeutics has received licenses from the Medicines and Healthcare products Regulatory Agency (“MHRA”) and Home Office to store and distribute cannabis-based medicinal products (“CBMPs”). The first of its kind facility in the UK is designed to reduce prescription delivery time, a key development as the company establishes its footprint in the UK. The license also allows the company to import CBMPs to the UK directly from Spectrum’s European and global networks, optimizing its supply chain and reducing overheads, without need for third-party suppliers. Spectrum Therapeutics has become the exclusive supplier of medical cannabis to the Grand Duchy of Luxembourg (“Luxembourg”). The contract will see Luxembourg receive medical cannabis from Spectrum’s licensed facilities in Denmark and around the world until December 31, 2021. In 2018, the Government of Luxembourg unanimously passed a law to decriminalize medical cannabis for patients with severe unmet needs. Under the new legislation, general practitioners and specialist medical professionals who have undertaken specific training are able to prescribe cannabis to eligible patients in Luxembourg. Patients with severe needs include those living with cancer, neuro-degenerative, chronic and painful diseases. “We are proud to share news of this decision from the government of Luxembourg, connecting patients to medicine supplied through our European platform,” said Paul Steckler, Co-Managing Director of Europe, Canopy Growth.
The Supreme Cannabis Company Inc. (TSX:FIRE)(OTCQX:SPRWF) just announced that it has parted ways with its Chief Advocacy Officer, John Fowler. The Company wishes to thank Mr. Fowler for his years of dedication and strong contribution to Supreme Cannabis and his passion for the cannabis plant. Mr. Fowler was one of the original founders of Supreme Cannabis’ flagship brand, 7ACRES, and is a strong believer in the cultivation of high-end cannabis. As a pioneer and passionate advocate for legalization, the Company knows Mr. Fowler will continue to be a strong contributor to our cannabis community. “We all wish John the best in his next endeavor and thank him for his commitment to the Company for the last four years. John recognized the value of high-quality cannabis at scale and was instrumental in the creation of 7ACRES,” said Navdeep Dhaliwal, CEO. “The Company and its strong management team is excited to continue its path to growth as a leader in differentiated cannabis brands and premium cultivation at scale, while exporting our team’s vast knowledge and experience globally.”
Flowr Corporation (TSX-V:FLWR)(OTCPK:FLWPF) announced that Ivan Latysh has joined the Company as Chief Technology Officer. In this newly created position, Mr. Latysh will be responsible for developing and overseeing the execution of Flowr’s technology and data-driven strategies. He will collaborate with all departments including, finance, operations, sales and marketing to support the Company’s objectives. Mr. Latysh was most recently, and since 2015, Vice President, Information Technology at MedReleaf Corporation, a cannabis producer focused on the medical market. “The addition of Ivan to our executive leadership team will ensure our operations and commercialization initiatives are supported by the technology and data-driven strategies that are necessary to excel in today’s market,” commented Flowr’s Chief Executive Officer, Vinay Tolia. “Enhancing our capabilities in this area are critical as we integrate our recent acquisition of operational footprints in Europe and Australia.” In addition, the Company has appointed Messrs. Laurence Levi and Francesco Tallarico to the roles of Chief Strategy Officer and Chief Legal Officer, respectively. Mr. Levi joined the Company in January, 2019, as Executive Vice President, Head of Strategy, and Mr. Tallarico joined the Company effective October 1, 2018, as General Counsel and Corporate Secretary.
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