MONTREAL, Feb. 4, 2025
/CNW/ - The Good Shroom Co Inc. (TSXV: MUSH) ("The Good
Shroom Co" or the "Company"), which will be changing its name to
Mercanto Holdings Inc., pending final TSX approval, an emerging
cannabis and wellness house of brands, is pleased to provide an
update on its recent market developments and announce the grant of
stock options in accordance with TSX Venture Exchange
requirements.
Quebec Market Share Expansion
The Company has received preliminary approval for four new
products as part of Quebec's
bi-annual cannabis submission process. The approved products
include two hash products, one infused joint, and one CBD
capsule product. The CBD capsule product is already selling at
present, as The Good Shroom Co was offered the listing following a
competitor's bankruptcy, which left a supply gap in the market,
opening the door for the Company to establish itself as a dominant
player in the category. This submission confirms that the Company
maintains its listing for the CBD capsule product.
This brings The Good Shroom Co's total product portfolio in
Quebec to approximately 30
products, including both in-store and online offerings. While this
product approval is not a major milestone, it represents another
step in the right direction for the Company. This is a game of
inches, and this approval is a meaningful win as it is expected
to:
- Strengthen the Company's market share in the hash
category,
- Diversify its exposure in the infused joint segment,
and
- Establish The Good Shroom Co as the leading provider of CBD
capsules in the province.
These new products are scheduled to launch in April 2025 (end of Q3 fiscal 2025), with
their full sales impact expected to be reflected in Q4 2025.
The addition of these four approved products is expected to
contribute to an overall stronger product mix and enhanced category
performance.
THC-Infused Pouch Expansion
The Good Shroom Co continues to expand its innovative
THC-infused pouch offerings under the DYP and Deckies
brands.
- DYP's Alberta launch
has been met with strong demand, with multiple purchase orders
fulfilled to date and increasing sales velocity.
- Deckies launched in Ontario
last week, receiving positive feedback from consumers and
retailers alike.
Q2 financial results will include initial sales
contributions from DYP in Alberta and Deckies in Ontario, while the full impact of sales
acceleration is anticipated in Q3 and beyond. Additionally,
The Good Shroom Co is pleased to announce that these products have
been submitted to the New
Brunswick cannabis market upon request and that the
Company is actively making inroads into medical cannabis
platforms across Canada.
Grant of Stock Options
In accordance with TSX Venture Exchange policies, the Company
announces that it has granted stock options to various directors,
officers, and key personnel. These options are exercisable at a
price of $0.085 per share,
based on the market close on February 3,
2025, and will expire on February 3, 2033. They are granted under the
following terms:
- 150,000 stock options granted to directors and officers
of the Company, with 50% vesting immediately and the remaining
50% vesting on February 3,
2026.
- 75,000 stock options granted to Jerry Chen, Quality Assurance Manager, under
the same conditions.
- 30,000 stock options granted to Karl McVey, freelance website designer,
under the same conditions.
Looking Ahead
The Good Shroom Co remains committed to expanding its product
offerings, increasing market share, and strengthening its position
in key cannabis segments. The Company continues to explore
strategic opportunities to enhance distribution channels and
drive sustained revenue growth.
About The Good Shroom Co Inc.
The Good Shroom Co Inc. (TSXV: MUSH) is a publicly traded
cannabis and wellness company focused on innovative product
development and market expansion across Canada. With a diverse portfolio of
high-quality cannabis products, the Company is dedicated to
delivering superior consumer experiences while driving
shareholder value.
Forward-Looking Statements:
This press release contains forward-looking statements within the
meaning of applicable securities laws. These statements reflect The
Good Shroom Co Inc.'s current expectations regarding future events,
including but not limited to, product launches, sales performance,
market expansion, regulatory approvals, and overall business
strategy. These statements are based on management's beliefs,
assumptions, and expectations, which may prove to be incorrect.
Actual results may differ materially from those expressed or
implied in forward-looking statements due to various risks and
uncertainties, including changes in market conditions, regulatory
developments, operational challenges, competition, and the ability
to secure necessary resources.
The forward-looking statements contained in this press release
are made as of the date hereof, and The Good Shroom Co Inc.
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as required by law. Investors are encouraged
to review the Company's regulatory filings on SEDAR+ for additional
risk disclosures.*
SOURCE Good Shroom Co Inc. (The)
