The Yield Growth Corp. entered into an agreement on September 20, 2019 to purchase nine recipes which include edible mushrooms as a key ingredient. The acquisition is from a consortium of creators of the formulas, including a chemical engineer, a holistic health coach and food chemist, and a chef (the “Consortium”), and is expected to be completed within 30 days. Yield Growth announced on September 17th, its entry into the edible mushroom market with an agreement to acquire 30% of Absolem Health Corp., owner of One Up Pure Energy, which has edible mushroom snacks registered with Health Canada.
Yield Growth will acquire nine mushroom ingredient formulas for potential use with psychedelic mushrooms
The formulas and know-how to be 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 are:
- Chai latte green tea flavor mushroom tea;
- Lemon grass, lemon and hibiscus lemon mushroom tea,
- Veggie mix for mushroom soup;
- Miso dehydrated seaweed mix for mushroom soup;
- Hot cocoa, coconut sugar and vanilla flavoured mushroom elixir;
- Pumpkin spice mushroom elixir;
- White chocolate truffle relaxing formula;
- Dark chocolate truffle energy formula; and
- Wild mushroom bliss ball with coco and dried fruits
“These healthy edible mushroom formulations have the potential to be made with psilocybin mushrooms in jurisdictions where magic mushrooms are legal,” says Yield Growth CEO Penny Green. “We are pleased to add mushroom formulas to our extensive catalogue of cannabis formulas which are at various stages of commercialization.”
According to awholenewhigh.com, magic mushrooms have been decriminalized in Austria, Portugal, Czech Republic, Cyprus, Italy and Spain. According to alltherooms.com, there are no laws preventing the sale, distribution, or use of psilocybin in Brazil, Jamaica or Peru. In the U.S., Denver and Oakland have decriminalized magic mushrooms. On September 12, 2019 the city council for Vancouver, British Columbia struck down a motion to deter and prevent the sale of psilocybin mushrooms, showing signs of political support for legalization.
While magic mushrooms are illegal in Canada, psilocybin is being studied for its potential to treat mental illnesses like anxiety, depression, and PTSD. According to The Guardian, new trials have shown the drug psilocybin to be highly effective in treating depression. Allied Market Research projects the global antidepressant market will be worth nearly $16 billion by 2023.
The Consortium developed a description of various wild 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 is included in the purchase by Flourish.
Flourish shall purchase the formulations and all know how and data related to the formulations from the Consortium with the issuance of 120,000 common shares of Yield Growth at market price.