Psychedelic substances are gaining traction as a treatment for mental illnesses, creating sizable opportunities for investors. In fact, according to The New York Times, Johns Hopkins Medicine announced the launch of the Center for Psychedelic and Consciousness Research to study compounds like LSD and psilocybin mushrooms for 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. It’s opening a wide range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp.(CSE:BOSS) (OTC:BOSQF), Canopy Growth Corporation (TO:WEED) (NYSE:CGC), Green Growth Brands Inc.(CSE:GGB) (OTC:GGBXF),Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CWBHF), and Aurora Cannabis Inc.(NYSE:ACB)(TO:ACB).
The Yield Growth Corp.(CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS:The Yield Growth Corp. just announced that on September 14, 2019, it entered into an agreement with Absolem Health Corp., 100% owner of One Up Pure Energy Inc., to acquire a 30% interest in Absolem. Yield Growth also entered into a consultancy agreement with Absolem to provide corporate finance and other services to assist the company with a going public transaction. One Up Pure Energy makes healthy, all-natural plant based ready to eat snacks. It manufactures mushroom power pellets called "The Reishi Relax" and "Cordyceps Power Up", both of which have been approved for sale by Health Canada and the Vancouver Health Authority. “My passion and goal is to improve access to healthy edible mushrooms by scaling up One Up Pure Energy into an international edible mushroom brand,” says Ken Kuiper, CEO of One Up. “As these medicinal mushroom extracts gain popularity, they are mainly available as powdered extracts, capsules and drink mixes. We are providing a convenient, to-go, ready to eat snack product.” The global edible mushrooms market is expected to grow at a CAGR of 7.95% to grow to $62 billion by 2023, increasing from $42 billion in 2018, according to a report by Research and Markets. Grand View Research reports that the global healthy snacks market size is expected to reach $32 billion by 2025. Yield Growth has agreed to pay CAD $63,000 for 3,150,000 shares at $0.02 per share which will amount to a 30% interest in the company. Further capital rounds are agreed to at limited amounts up to $0.30 per unit.
Yield Growth has also signed an Advisory Agreement to provide various services including bookkeeping, project management and corporate communications. Yield will be compensated for its services at cost plus 25% and will receive a bonus of 500,000 shares if Absolem achieves a listing on a stock exchange via a going public transaction within 5 months. Krystal Pineo is a founder, director and shareholder of both Absolem and Yield Growth. “Our research indicates that edible mushrooms are in a period of high growth,” says Yield Growth CEO Penny White, “Yield Growth intends to add to its cannabis wellness assets through acquisitions in companies like Absolem. Edible Mushrooms may experience hyper-growth as the movement to decriminalize psilocybin (magic mushrooms) grows, similar to how the popularity of hemp has grown with the legalization of cannabis. Of great interest to us is how the business of Absolem can be aligned with legal research and clinical trials of psilocybin “magic mushrooms.” We intend to use our alliance with Absolem as a launch pad to create assets for legal psychedelic medicine.”
Other related developments in Yield Growth’s industry include:
Canopy Growth Corporation(TO:WEED)(NYSE:CGC) just announced that it has received a license from Health Canada for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. Including the Smiths Falls site and the recently licensed BC Tweed extraction site, Canopy Growth now operates three significant extraction assets to support the throughput required for large scale value-add product development. Canopy Growth recently retrofitted the now fully licensed KeyLeaf facility in Saskatchewan, a company with over 50 years of experience in the extraction industry. This facility is expected to be online in the Fall of 2019 and has the capacity to extract up to 5,000 kilograms of hemp or cannabis biomass per day. The application for the license was submitted under KeyLeaf's previous name, POS Management Corp. and will be updated in due course. The newly licensed extraction platform is located in close proximity to Canopy Growth’s large-scale outdoor hemp and cannabis grow operations. The Company looks forward to the additional capacity increasing production efficiency, augmenting output volume, and ultimately reducing operational costs for value-add products set to be rolled out in the Canadian recreational and medical markets at the end of calendar year 2019. “With this milestone, we are executing against the vision of making strategic investments today in order to deliver results over the long term,” said Mark Zekulin, CEO, Canopy Growth. “This license will ensure we have the supply of extraction inputs for the medical, CBD, and recreational markets, especially the next generation of value-add, high margin cannabis products here in Canada.”
Green Growth Brands Inc.(CSE:GGB)(OTC:GGBXF) just announced that it will open 100th Seventh Sense Botanical Therapymall-based shop. The first Seventh Sense shop opened in early February. “This is a huge milestone for Green Growth Brands and Seventh Sense,” said Peter Horvath, CEO of Green Growth Brands. “We believe we have created the largest and most valuable network of brick and mortar CBD shops in the country.” Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories.
Charlotte’s Web Holdings Inc.(CN:CWEB)(OTC:CWBHF) just announced that Russell Hammer has joined the Company as Chief Financial Officer, effective tomorrow, August 15, 2019. Mr. Hammer, who has most recently served as an advisor in private equity investments, brings more than 30 years of finance experience in the retail, tourism and technology sectors. With his experience leading multi-billion-dollar multinational companies, he is the latest top-tier executive to join Charlotte's Web as the Company accelerates its growth and evolution into a global consumer packaged goods ("CPG") brand. Mr. Hammer replaces Rich Mohr, who as CFO has overseen the Company's successful transition to a publicly traded company and market leader in hemp CBD products. "Russ's appointment aligns perfectly to support the Company's evolution over the past few years from an early stage organization to a leading public company, into its next phase transitioning to a global CPG company. His breadth of international finance experience across a range of industries, as well as expertise in building operational infrastructure, applying forward-looking analytics, M&A, and accessing capital markets will help us scale the business in a financially stable way," said Deanie Elsner, CEO of Charlotte's Web.
Aurora Cannabis Inc.(NYSE:ACB)(TO:ACB) announced its financial and operational resultsfor the fourth quarter and fiscal year ended June 30, 2019."In 2019 Aurora took its place as the global leader in cannabis production, research, innovation, and international market development. We are executing on all our strategic priorities," said Terry Booth, CEO. "Our best in class cultivation methods allow us to grow consistent, high-quality cannabis at scale. Because of this, we've delivered solid revenue growth in the fourth quarter. We are working to extend our reach in the U.S. markets. Our partnership with the UFC is a basis to explore CBD-from-hemp and hemp food products. We are also exploring additional opportunities and leveraging our Strategic Advisor. We are focused on building a sustainable, high-margin business while providing patients and consumers with access to safe and reliable medicine." Glen Ibbott, CFO, added, "We continue to see strong growth in cannabis revenues in both medical and consumer categories. Our cultivation execution continues to drive production costs lower and improve gross margins. Aurora's diversified product portfolio remains in demand with patients and consumers alike. With the Canadian launch of derivative products in the coming months, we have made the necessary investments to ensure readiness and focus on a variety of value-added products. We are very excited to supply an expanded consumer market with premium cannabis and new product forms."
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