Vancouver, British Columbia--(Newsfile Corp. - January 28, 2020) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces subsidiary Flourish Mushroom Labs is executing on its strategy that is strongly aligned with the growing media recognition around psilocybin research. This includes films, books and international legislative action.
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Netflix recently launched a new series featuring Gwyneth Paltrow called The Goop Lab, and the season kicked off with episode one focused on psilocybin and psychedelic research for health and healing. In the episode, Paltrow's team collaborated with the Multidisciplinary Association for Psychedelic Studies (MAPS).
Multiple films have also been released to tremendous accolades including Fantastic Fungi (released August 30, 2019), which showcases fungi's power to heal, sustain and contribute to the regeneration of life on Earth. Another film, Dosed (released December 14, 2019), was filmed in Vancouver and focuses on a woman overcoming serious addiction with the help of psychedelics.
Renowned author Michael Pollan's book, How to Change Your Mind (released May 15, 2018) became a #1 New York Times bestseller. The book focused on the investigation into the medical and scientific revolution taking place around psychedelic drugs and the story of his own life-changing psychedelic experiences.
Joe Rogan, the celebrated comedian and personality, has also touted the benefits of mushrooms, both medicinal and psychedelic, on multiple episodes of his show.
"Awareness is growing, not just here in Canada but on the international stage - driven partly by the increased media attention on all of these fronts, but ultimately by the health results that people have achieved with the support of psychedelics," said Yield Growth CEO Penny White. "The public is working to push this agenda forward, and legislators are taking notice."
The issue has even made it onto the ballot and the state of Oregon will vote in 2020 on whether to legalize psilocybin.
"Our team at Flourish is working closely with leaders who are part of this movement and laying the groundwork to serve this industry. We are starting with non-psychedelic, medicinal mushroom coffee and soup, and hope to move into offering psilocybin-based products as well," added White.
Flourish has already achieved several key milestones including:
Filing a U.S. provisional patent application for the use of psychedelic mushroom actives for weight loss.
Entering into a binding letter of intent with Acres Agricultural Canada Corp. to jointly form a company in Saint Vincent and the Grenadines to build a laboratory for the cultivation of and research and development into compounds and therapeutic use of psychedelic mushrooms.
Entering into an agreement to acquire approximately 18% of Translational Life Sciences Inc., which aims to develop proprietary formulations using restricted substances to focus on unmet medical needs in opioid dependence, psychotic illness, pain management and traumatic brain injury, including concussion. The company also offers services to design and oversee clinical trials of restricted substances such as psilocybin based formulations for third parties.
About Flourish Mushroom Labs Inc.
Flourish Mushroom Labs aims to legally and safely commercialize psilocybin (magic) mushrooms. Flourish Mushroom Labs is planning to build a psilocybin mushroom laboratory in St. Vincent and the Grenadines and is conducting research into potentially therapeutic benefits of compounds found in magic mushrooms. It has filed a U.S. patent application for the use of psilocybin to aid in weight loss and treat obesity, diabetes and to help prevent heart disease. Flourish also plans to be a leader in the fast-growing medicinal mushrooms market-and improve life by offering high-quality mushroom-infused products. Flourish Mushroom Labs is a majority owned subsidiary of The Yield Growth Corp.
About The Yield Growth Corp.
The Yield Growth Corp. develops, licenses and sells plant-based products and formulas and conducts research into plant-based medicine in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth team has experience as executives at billion dollar consumer packaged goods companies Johnson & Johnson, Procter & Gamble, MAC Cosmetics and Aritzia and experience at Nestle, PepsiCo and Coca-Cola. Its all natural hemp skincare brand, Urban Juve, has 14 products for sale at Urbanjuve.com, is available at retailers in Canada, and the U.S. and has signed agreements for distribution in 12 other countries. Wright & Well is an Ayurveda-inspired line of THC and CBD edibles and topicals sold in Oregon. Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 13 patents to protect its extraction methods and formulas. Yield Growth earns revenue through multiple streams including licensing, services and product sales.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents 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 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, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. The laws around cultivating, selling and using psychedelic mushrooms would need to change in most jurisdictions in order for the use of psychedelic products to be legal and sale of, and demand for, Urban Juve, Wright & Well, Flourish Mushroom Labs, Jack n Jane 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.
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