Yield Growth Develops Mushroom Coffee Formula to Launch New Line of Mushroom Coffees Through Subsidiary Flourish Mushroom Labs
The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, FSE:YG3) is pleased to announce that it has completed initial development of a mushroom coffee formula, and will launch a new line of mushroom-infused coffee mixes through its wholly owned subsidiary Flourish Mushroom Labs Inc.
Yield Growth completed initial development of a mushroom coffee formula
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The Yield Growth development team has been working to create additional products to add to the company’s base catalogue of edible mushroom formulas acquired on October 10, 2019. Through its subsidiary, Flourish Mushroom Labs, it intends to commercialize its edible mushroom catalogue, going to market first with mushroom-based soups and coffees.
The mushroom coffees will be infused with various wild mushrooms such as Lion’s Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps. Yield Growth plans to begin testing the coffees in the next quarter for market launch in the first half of 2020.
The global functional food market is forecasted to reach USD 34.3 billion by 2024, growing at a CAGR of 8.04% during the forecast period (2019-2024), according to a report by Research and Markets.
A press release by Fortune Business Insights on October 21, 2019 entitled, “Why the Functional Mushrooms Market is set to explode…” states that it has released a report predicting that the global functional mushrooms market is expected to gain momentum from growing awareness regarding the health benefits of mushrooms. According to the report summary, “Functional mushrooms due to their several functional properties can be utilized in the production of functional food products, medicines, and cosmetic products. The product is rich in antioxidants hence can offer skin-enhancing benefits, aid immune and digestive function, and can balance the energy level. Anticipated growth in consumption of dietary supplements to remain healthy and disease-free is projected to propel the demand for functional mushrooms during the forecast years. Rapid urbanization, changing lifestyles, and increasing per capita income of people is anticipated to aid the growth of the global functional mushrooms market in the upcoming years.”
“We are excited about the growing consumer interest in legal edible mushrooms and intend to launch our coffee products in Canada and the U.S. in 2020, using some of the distribution channels we have developed for our hemp products ,” says Penny White, Yield Growth CEO. “Beyond functional mushrooms, we are also interested in how magic mushroom induced psychedelic states of mind may have therapeutic benefits.”
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 to treat 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 foundations. 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. The market for mushroom products, both functional and psychedelic, represents a massive opportunity for wellness companies, and Yield Growth is poised to take part in this rapidly growing sector.
About The Yield Growth Corp.
The Yield Growth Corp. is building and operating hemp, cannabis and edible mushroom assets 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, M·A·C Cosmetics, Skechers, Best Buy and Aritzia. Its all natural hemp skin care brand, Urban Juve, has signed distribution agreements in Canada, Colombia, 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. Jack n Jane is launching cannabis products in Canada in 2019. Yield Growth is launching a line of edible mushroom wellness products in 2020.
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.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
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, 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.