Vancouver, British Columbia--InvestorsHub NewsWire -- February
20, 2020 - The Yield Growth
Corp. (CSE: BOSS) (OTCQB:
BOSQF) (FSE:
YG3) subsidiary Flourish Mushroom
Labs Inc. announces that it has acquired technology rights from its
parent company The Yield Growth Corp. and filed a U.S. provisional
patent for the invention of a method of manufacture for a mushroom
extract that may be used in a variety of therapeutic and
pharmaceutical formulations.
Patent Pending to Protect Mushroom Extraction Method
The patent application covers the invention of a unique mushroom
extract which may have unique medicinal properties, as well as a
method of manufacturing the extract from mushrooms including
Psilocybe mexicana, and formulations and emulsions containing the
mushroom extract. The mushroom extract may be in the form of an
aqueous solution, or it may be a freeze or spray dried powder.
"Our proprietary extraction technology was initially invented to
extract compounds from the root of the cannabis plant to
manufacture hemp root oil, which we use in a number of our
products, including our Urban Juve skincare line," said Penny
White, CEO of The Yield Growth Corp. and Flourish Mushroom Labs.
"There is now also great interest in using this technology for
medicinal mushrooms and psychedelic mushrooms when and where they
are legal."
As previously announced, Kingdom Brands Management Inc. will pay
$500,000 to Flourish in exchange for the rights to use and
sub-license the extraction technology in the United
States.
"The method is able to extract both water soluble and non-water
soluble compounds, which enables us to get the full spectrum of
compounds available in the mushrooms including both triterpene
extract and beta glucans," added White. "In a commercial setting,
the mushroom extract process is complex due to the pressure,
temperature and surface area of raw material, so we are excited
about the potential for use of our proprietary technology in
mushrooms."
There has been a recent renaissance of psychedelic research with
over a dozen universities currently engaged in clinical trials
using psychedelics. According to CTV news, the team at Johns
Hopkins is expanding its testing of psilocybin and other
psychedelics for conditions including obsessive compulsive
disorder, post-traumatic stress disorder, opioid use disorder,
alcoholism and anorexia nervosa. "Other research is examining the
benefits of microdosing, which uses small doses of psilocybin to
treat anxiety and depression. A survey of people self-managing
mental and substance use disorders by microdosing found 44 percent
of them perceived their mental health was "much better" as a
result."
According to the Financial Post, a number of psychedelic drug
companies are gearing up to list on Canadian stock exchanges. Mind
Medicine Inc., which is undertaking clinical trials of
psychedelic-based drugs, intends to list on Toronto's NEO Exchange
and is targeting a valuation of approximately US$50 million. Mind
Medicine counts former Canopy Growth Corp. co-chief executive
officer Bruce Linton as a director and Shark Tank star Kevin
O'Leary as an investor.
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 potential 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 and manufactures plant-based
products and conducts research for plant-based therapeutics 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
management team has deep experience with global brands including
Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.
Its all natural hemp skincare brand, Urban Juve, has signed
agreements for distribution in Canada, Colombia, Brazil, Costa
Rica, Panama, Argentina, El Salvador, Ecuador, Peru, Greece,
Cyprus, Bulgaria, Romania and Serbia. Yield Growth's Wright &
Well brands have manufactured a THC/CBD line of topical and edible
products in Oregon. Through its subsidiaries, Yield Growth has over
200 proprietary beauty, wellness, edibles and beverage formulas for
commercialization. It has filed 13 patents to protect its
extraction method and other intellectual property. Yield Growth
earns 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 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.
Yield Growth (CSE:BOSS)
Historical Stock Chart
From Oct 2024 to Nov 2024
Yield Growth (CSE:BOSS)
Historical Stock Chart
From Nov 2023 to Nov 2024
