Vancouver, British
Columbia-- October 10, 2019 -- InvestorsHub NewsWire
-- The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is
pleased to announce that its wholly owned subsidiary Flourish
Mushroom Labs Inc. has completed the acquisition, announced on
September 24, 2019, of a catalogue of mushroom formulas as the
foundation of a mushroom edibles business.
Figure 1. Varieties
of mushrooms to be used in the edible formulations include Lion’s
Mane, Turkey Tail, Reishi, Shitake, Chagas, and Cordyceps, among
other wild varietals.
The formulas and know-how
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 include soups, teas, hot cocoa, elixirs and truffles.
Flourish has engaged the developers to create additional products
to add to the base catalogue and commercialize the formulas, going
to market first with mushroom based soups and
coffees.
The global edible mushrooms
market is expected to grow at a CAGR of 7.95% to grow to US$62
billion by 2023, increasing from US$42 billion in 2018, according
to a report by Research and Markets. Grand View Research reports
that the global healthy snacks market size is expected to reach
US$32 billion by 2025.
According to
healthline.com, studies have shown that cordyceps (medicinal
mushrooms) boost exercise performance, improve memory and sex
drive, slow growth of tumors and can improve heart health. A study
published in The Journal of Alzheimer’s Disease, as reported by the
BBC, found that a unique antioxidant present in mushrooms could
have a protective effect on the brain, and the more mushrooms
people ate, the better they performed on tests of thinking and
processing.
"Learning and memory are the core cognitive functions of the human
brain," says Penny White, Yield CEO, "With a rapid decline of age
affecting the population cognitive deficit is leading to many
neurological diseases. Flourish recognizes the early prevention
needed for declining learning and memory to conduct research into
creating edible products combining the mushroom medicine for a
broad potential market."
Included in the acquisition
is know-how and research related to edible 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 are included in
the acquisition by Flourish.
Flourish purchased the
formulations and all know-how and data related to the formulations
with the issuance of 120,000 common shares of Yield Growth at a
deemed value of $0.25 per share.
According to The New York
Times, on September 4, 2019 Johns Hopkins Medicine announced the
launch of the Center for Psychedelic and Consciousness Research, to
study compounds like LSD and psilocybin for a range of mental
health problems, including anorexia, addiction and depression. The
center is the first of its kind in the country, established with
$17 million in commitments from wealthy private donors and a
foundation. CNBC says that investors are starting to bet big on
psychedelic medicine with ATAI Life Sciences completing a $40
million round in March 2019 at a $240,000,000
valuation.
By mutual agreement Yield
Growth is not proceeding with any investment into Absolem Health
Corp.
About The Yield
Growth Corp.
The Yield Growth Corp. is
building and operating hemp, cannabis and other wellness assets in
what the Global Wellness Institute reports is a $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, Brazil, Greece
and Cypress and through its distributor network has access to over
8,000 retail locations. Urban Juve has been featured in UK Vogue,
Vanity Fair UK 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 had filed 12 patents to
protect its extraction method and formulas. 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.