Now more than ever, millions of people are focused on their health and wellness. It’s why many are turning to healthier foods, such as functional mushrooms, which are full of anti-oxidants and defense from autoimmune issues. In fact, according to Mordor Intelligence, “A number of scientific studies have confirmed the ability of functional mushrooms and mushroom-derived supplements to increase the effectiveness of both innate and adaptive immune systems. The market is expected to experience huge demand for Reishi and Cordyceps, followed by the other types of medicinal mushrooms.” Some of the companies benefiting from functional mushroom demand include Psyched Wellness (CSE:PSYC)(OTC:PSYCF), HAVN Life Sciences (CSE:HAVN)(OTC:HAVLF), Halo Collective Inc. (NEO:HALO)(OTC:HCANF), Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF), and Compass Pathways Inc. (NASDAQ:CMPS).
In addition, according to Natalie Rizzo, M.S., RD, as quoted by Bicycling, “Many of the functional kinds of mushrooms, like Chaga or Lion’s Mane, are thought to have more antioxidant properties and are often turned into supplements. Functional mushrooms are used in Eastern medicine as a way to decrease the likelihood of diseases.”
Psyched Wellness Just Signed a Supply Agreement for Amanita Muscaria
Psyched Wellness Ltd. (CSE:PSYC)(OTC:PSYCF) a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, is pleased to announce the Company has entered into a two year supply agreement with MB MEMEL GOODS, a Lithuanian company owned and operated by principals with over fifteen years of expertise, experience and know-how in gathering, processing and distributing various wild mushrooms, including Amanita muscaria and Chaga, and wild berries. The Supply Agreement provides for an initial supply of 200kg of Amanita muscaria dried mushroom caps.
It is currently anticipated that the Initial Supply will be picked between September and December 2021 and be delivered intermittently to the Company over the four month period. The Company intends to use the Amanita muscaria dried mushroom caps as raw material for the AME-1 extraction process.
“We have sampled and tested a number of different suppliers from around the world and believe that MB MEMEL GOODS provides us with the highest potency and best quality product”, said David Shisel COO of Psyched Wellness. “After preforming various tests and trials, we are confident that the raw material that we will receive from MB MEMEL GOODS will help us more towards AME-1 commercial production.”
Other related developments from around the markets include:
HAVN Life Sciences, a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, is pleased to announce, further to its news release dated January 26, 2021, that it has completed the acquisition of GCO Packaging and Manufacturing Ltd., acquiring 100% of the outstanding shares of GCO in exchange for an aggregate of 6,000,000 common shares of Havn Life. GCO operates a large-scale manufacturing, packaging and distribution facility.
Halo Collective Inc. announced its financial and operational results for three and twelve months ending December 31, 2020. The Company reported revenues of $21.6 million for the year ended December 31, 2020, a 23% decrease in comparison with the previous year. Profitability, however, was up overall. Adjusted gross profit, excluding fair value gains in biological assets, impairment of inventory and non-reoccurring costs due to market circumstances, was $5.2 million (compared to $2.9 million in 2019). The adjusted gross margin in 2020 was 24% in comparison with 10% in 2019. Complete results are reported in the Company’s consolidated financial statements for the year ended December 31, 2020 and associated management discussion and analysis.
Numinus Wellness Inc., a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, announced today that it has formed a partnership with KGK Science, a leading contract research organization with expertise in natural products, to undertake a new Psilocybin extraction clinical trial. The Phase 1 trial will enroll 14 human volunteers and assess the safety and psychoactive properties of a Psilocybe mushroom product extracted and formulated at the Numinus Bioscience lab in British Columbia, Canada. Successful completion of the landmark trial would result in safety and efficacy data for a natural Psilocybin product which could subsequently be used for further research and government-approved special access or compassionate access programs.
Compass Pathways, a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, welcomed a study published in the New England Journal of Medicine (NEJM) yesterday, which showed signals of positive activity in COMP360 psilocybin compared with the standard antidepressant escitalopram, for major depressive disorder (MDD). The study was designed and conducted by a research team at Imperial College London, using COMPASS’s COMP360 psilocybin.
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