Flourish Signs Agreement to Manufacture Immune-Boosting Mushroom Coffees
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2020) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) ("Yield Growth") subsidiary Flourish Mushroom Labs is pleased to announce that it has entered into a manufacturing agreement with Canadian Phytopharmaceuticals Corp. to begin production of its Ayurvedic mushroom coffee line.
Flourish signs agreement to manufacture immune-boosting mushroom coffees
To view an enhanced version of this graphic, please visit:
"Our Ayurvedic mushroom coffees are formulated with immune-boosting medicinal mushrooms that are antioxidant and nutrient-rich. This includes reishi, chaga, lion's mane and turkey tail mushrooms, all of which are widely regarded for their health benefits," said Penny White, CEO of Flourish Mushroom Labs. "This is especially top of mind in the midst of the global health crisis we are currently facing. For us, it is crucial that we are able to deliver health-boosting products that are easy to consume and delicious as we all try to keep ourselves and our families healthy."
Canadian Phytopharmaceuticals Corporation is a GMP (Good Manufacturing Practices) certified contract manufacturer and private labeller with more than twenty years experience.
"Our new manufacturing partner is recognized for its dedication to research, innovation and the development and manufacturing of top quality botanical extracts, natural health products and dietary supplements," added White.
The Ayurvedic mushroom coffees are planned for launch in the summer of 2020.
The global market for functional mushrooms is forecasted to reach $34 billion by 2024 and grow at a CAGR of 8% between 2019 and 2024, according to a report from Mordor Intelligence.
Functional foods using mushrooms and Ayurvedic botanicals have a long history of therapeutic use. According to Health Canada, a functional food is demonstrated to have physiological benefits and/or reduce the risk of chronic disease beyond basic nutritional functions.
"The mushrooms we have chosen are nutrient-dense superfoods that are loaded with a wide range of impressive health benefits," said Bhavna Solecki, Director of Product Development for The Yield Growth Corp. "Chaga is a known stress-adaptogen and immune modulator to stimulate and regulate the immune system. Reishi has immunostimulatory effects and shows antiviral activity. Turkey tail effectively strengthens the immune system and prevents colds and influenza while lion's mane reduces anxiety and depression and improves cognitive function."
The products are also planned to contain other Ayurvedic botanical ingredients such as Holy Basil, which naturally decreases anxiety; moringa, which acts as an antiviral and antidepressant; gotu kola, which reduces anxiety and stress while improving circulation, and amla; a potent fighter against bacteria and viruses.
"Our immune system is evolving and continuously fighting illnesses and environmental toxins. In these unpredictable times it is kindness, caring and being responsible for what we put in our bodies, our health and the health of our loved ones that will see us through," said White.
About The Yield Growth Corp.
The Yield Growth Corp. conducts research and development and sells plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization. Its products are sold through e-commerce worldwide and retail stores in 3 countries with distribution agreements in place for 12 more countries. It conducts research for plant-based therapeutics, including protection against infectious diseases, and has 13 patents filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the plant-based skin care brand Urban Juve, which is currently launching a line of hand care products, and it owns wellness brands Wright & Well and Jack n Jane. It's majority owned subsidiary Flourish Mushroom Labs is launching a line of medicinal mushroom products and developing a business in the emerging market of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia. 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, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies do to the spread of the Coronavirus, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53831