Vancouver, British Columbia–(Newsfile Corp. – April 30, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (“Yield Growth”) announces it has changed the name of its majority owned subsidiary to NeonMind Biosciences Inc. from Flourish Mushroom Labs Inc., a company engaged in research and development of potentially therapeutic uses of psychedelic mushrooms and development of functional mushroom products.
Yield Growth Announces Subsidiary Name Change to NeonMind Biosciences Inc
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NeonMind was inspired by the potential therapeutic effects of psychedelic mushrooms, which have been shown to increase sensory processing and brain connectivity characterized by increased synchronization of sensory brain regions, as found in a recent study called “Psilocybin induces time-dependent changes in global functional connectivity”, according to psypost.org.
The NeonMind name is meant to reflect that connectedness, by bringing together “Neon,” representing brilliance, brightness, and radiance with “Mind,” as our intellect, consciousness, power and soul.
NeonMind has filed a U.S. provisional patent application to protect intellectual property relating to the use of psychedelic mushrooms to activate the mind to achieve better body health, including:
reducing food cravings;
counteracting compulsive overeating;
improving quality of diet by empowering the mind to select lower calorie foods;
regulating blood glucose; and
reducing susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity.
The company is developing plans for clinical trials to further its research into potentially therapeutic benefits of compounds found in psychedelic mushrooms.
The company also intends to launch functional mushroom based products under the NeonMind brand, and has designed initial packaging concepts and filed trademark applications for NeonMind in Canada and the U.S. It aims to be a leader in the fast-growing functional foods market by offering high-quality mushroom-infused products that support immune, cognitive, memory and other brain functions.
About The Yield Growth Corp.
The Yield Growth Corp. is a consumer packaged goods company that develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes 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 has 14 patent applications 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. Its majority owned subsidiary NeonMind Biosciences Inc. is launching a line of medicinal mushroom products and is developing intellectual property in the emerging area of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, 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, NeonMind and Jack n Jane 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.
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