Vancouver, BC -- September
24, 2019 -- InvestorsHub NewsWire -- The Yield Growth
Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is
pleased to announce that its newly created subsidiary Flourish
Mushroom Labs Inc. entered into an agreement on September 20, 2019
to purchase 9 recipes which include edible mushrooms as a key
ingredient. The acquisition is from a consortium of creators of the
formulas, including a chemical engineer, a holistic health coach
and food chemist, and a chef (the "Consortium"), and is expected to
be completed within 30 days. Yield Growth announced on September
17th, its entry into the edible mushroom market with an agreement
to acquire 30% of Absolem Health Corp., owner of One Up Pure
Energy, which has edible mushroom snacks registered with Health
Canada.
Yield Growth will acquire 9 mushroom ingredient formulas
for potential use with psychedelic mushrooms
The formulas and know-how
to be acquired relate to formulations that may be used to create
ready to eat packaged food products or packaged food products that
may be mixed with mushroom varietals of the consumer's choice. The
formulations are:
- Chai latte green tea flavor
mushroom tea;
- Lemon grass, lemon and
hibiscus lemon mushroom tea,
- Veggie mix for mushroom
soup;
- Miso dehydrated seaweed mix
for mushroom soup;
- Hot cocoa, coconut sugar
and vanilla flavoured mushroom elixir;
- Pumpkin spice mushroom
elixir;
- White chocolate truffle
relaxing formula;
- Dark chocolate truffle
energy formula; and
- Wild mushroom bliss ball
with coco and dried fruits
"These healthy edible
mushroom formulations have the potential to be made with psilocybin
mushrooms in jurisdictions where magic mushrooms are legal," says
Yield Growth CEO Penny Green. "We are pleased to add mushroom
formulas to our extensive catalogue of cannabis formulas which are
at various stages of commercialization."
According to
awholenewhigh.com, magic mushrooms have been decriminalized in
Austria, Portugal, Czech Republic, Cyprus, Italy and Spain.
According to alltherooms.com, there are no laws preventing the
sale, distribution, or use of psilocybin in Brazil, Jamaica or
Peru. In the U.S., Denver and Oakland have decriminalized magic
mushrooms. On September 12, 2019 the city council for Vancouver,
British Columbia struck down a motion to deter and prevent the sale
of psilocybin mushrooms, showing signs of political support for
legalization.
While magic mushrooms are
illegal in Canada, psilocybin is being studied for its potential to
treat mental illnesses like anxiety, depression, and PTSD.
According to The Guardian, new trials have shown the drug
psilocybin to be highly effective in treating depression. Allied
Market Research projects the global antidepressant market will be
worth nearly $16 billion by 2023.
The Consortium developed a
description of various wild mushrooms that could be used in the
formulations and various health benefits that can accrue to people
eating those mushrooms, as determined by researching data published
from clinical trials and from knowledge of Chinese, Tibetan and
Ayurvedic medicine. The varieties of mushrooms to be used in the
formulations include Lion's Mane, Turkey Tail, Reishi, Shitake,
Chagas, Cordyceps and other wild varietals. The research and data
on health benefits is included in the purchase by
Flourish.
Flourish shall purchase the
formulations and all know how and data related to the formulations
from the Consortium with the issuance of 120,000 common shares of
Yield Growth at market price.
About The Yield
Growth Corp.
The Yield Growth Corp. is
building and operating hemp, cannabis and mushroom wellness assets
in the $4.2 trillion-dollar global wellness market. The Yield
Growth management team has deep experience with global brands
including Johnson & Johnson, Procter & Gamble, M·A·C
Cosmetics, Skechers, Best Buy and Aritzia. Its all natural hemp
skin care brand, Urban Juve, has signed distribution agreements in
Canada, Columbia, Brasil, Greece and Cyprus and through its
distributor network has access to over 8,000 retail locations.
Urban Juve has been featured in UK Vogue and Elle Canada and has an
alliance with leading online beauty community, ipsy. Yield Growth's
Wright & Well brands are launching a THC/CBD line of topical
products in Oregon and a CBD from hemp topicals line in California
this fall.
Through its subsidiaries,
Yield Growth has over 200 proprietary beauty, wellness, edibles and
beverage formulas for commercialization. It has filed 12 patents to
protect its extraction method and formulas. Yield Growth also
acquires interests in start ups and provides incubation services to
emerging wellness companies. Yield Growth is in revenue through
multiple streams including licensing, services and product
sales.
For more
information about Yield Growth,
visit www.yieldgrowth.com or
follow @yieldgrowth on Instagram.
Visit www.urbanjuve.com and #findyourjuve across
social platforms to learn, engage and shop.
Investor Relations
Contacts:
Penny White, President
& CEO
Kristina Pillon, Investor
Relations
invest@yieldgrowth.com
1-833-514-BOSS 1-833-514-2677
1-833-515-BOSS 1-833-515-2677
The Canadian Securities
Exchange has not reviewed, approved or disapproved the content of
this news release.
Cautionary
Statement Regarding Forward-Looking
Statements
This press release
includes forward-looking information and statements (collectively,
"forward looking statements") under applicable Canadian securities
legislation. Forward-looking statements are necessarily based upon
a number of estimates, forecasts, beliefs and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such risks,
uncertainties and factors include, but are not limited to: risks
related to the development, testing, licensing, intellectual
property protection, and sale of, and demand for, Urban Juve,
Wright & Well and UJ Beverages products, general business,
economic, competitive, political and social uncertainties, delay or
failure to receive board or regulatory approvals where applicable,
and the state of the capital markets. Yield Growth cautions readers
not to place undue reliance on forward-looking statements provided
by Yield Growth, as such forward-looking statements are not a
guarantee of future results or performance and actual results may
differ materially. The forward-looking statements contained in this
press release are made as of the date of this press release, and
Yield Growth expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
law.
