Vancouver, British Columbia–(Newsfile Corp. – January 30, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) subsidiary Flourish Mushroom Labs is pleased to announce that on January 28, 2020 the Santa Cruz California City Council has unanimously voted in favour of a resolution to decriminalize a wide range of psychedelics.
Santa Cruz, California
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Marijuanamoment.net reports that activists in roughly 100 cities across the U.S. are hoping to replicate that resolution with the goal of decriminalizing certain psychedelic substances through ballot initiatives and legislative action at the local level.
“This move is an exciting step toward the safe and legal commercialization of psilocybin mushrooms,” said Yield Growth CEO Penny White. “With increasing awareness around the therapeutic potential of mushrooms, I expect to see this trend continuing, and we are preparing to meet the potential future demand for these products with Flourish Mushroom Labs.”
Psilocybin mushrooms are already completely legal in Jamaica and have been decriminalized in Portugal.
Late in 2019, Johns Hopkins University received a $17 million dollar donation to study psilocybin as a treatment for disorders such as anorexia, opioid addiction, Alzheimer’s, chronic Lyme disease, post-traumatic stress disorder, and alcohol addiction, according to qz.com.
“With more dollars being put behind studying mushrooms for therapeutic use, I expect we will see more and more action to decriminalize psilocybin. We believe we are at the forefront of a true renaissance in therapeutic, plant-based medicine,” added Penny White.
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 potentially 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, licenses and sells plant-based products and formulas and conducts research into plant-based medicine 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 team has experience as executives at billion dollar consumer packaged goods companies Johnson & Johnson, Procter & Gamble, MAC Cosmetics and Aritzia and experience at Nestle, PepsiCo and Coca-Cola. Its all natural hemp skincare brand, Urban Juve, has 14 products for sale at Urbanjuve.com, is available at retailers in Canada, and the U.S. and has signed agreements for distribution in 12 other countries. Wright & Well is an Ayurveda-inspired line of THC and CBD edibles and topicals sold in Oregon. Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 13 patents to protect its extraction methods and formulas. 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, 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.
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