Functional mushrooms have become one of the top health and wellness stories. 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.”
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, says Rizzo. Functional mushrooms are used in Eastern medicine as a way to decrease the likelihood of diseases.”
Plus, according to Allied Market Research, “Rise in demand for functional beverage ingredients, surge in product awareness & knowledge through advertisements, and inclination toward sustainable food & beverages have boosted the growth of the global reishi mushroom market.”
That’s beneficial for Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF), New Wave Holdings Corp. (CSE:SPOR)(OTC:TRMNF), HAVN Life Sciences (CSE:HAVN)(OTC:HAVLF), Halo Collective Inc. (NEO:HALO)(OTC:HCANF), and Numinus Wellness Inc. (TSXV:NUMI)(OTC:LKYSF).
Look at Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF) for example.
The company just announced that its wholly owned subsidiary, Pure Mushrooms Corp. has ordered its first shipment of functional mushrooms from its British Columbia co-packer.
Pure Mushrooms has developed three premium, functional mushroom formulations, that come in safe and convenient vegan capsules. These products will be available through its online e-Commerce store with sales of Reishi and Maitake formulations expected to commence in April and sales of a Lion’s Mane formulation expected to commence in June.
Reishi mushrooms have been a staple in Eastern medicine for centuries and provide antioxidants, support for the immune system, help increasing energy and resistance to stress, and are often used to strengthen the body and nourish the heart in Traditional Chinese Medicine. Maitake mushrooms are widely used in the Japanese and Chinese cultures in foods and as a supplement, with perceived benefits in combating stress, supporting the immune system, with high antioxidants that benefit the heart and the brain. Lion’s Mane is thought to boost cognitive health and power, provide memory support and enhance mental clarity.
Each formulation has the potential to generate $15,000 in gross sales per month. Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited to be ordering the first Pure Mushrooms products to launch our direct-to-consumer, online store. The functional mushroom wellness market is experiencing robust sales as many consumers are trying to boost their immune systems in light of the COVID-19 pandemic. As we build-out our mushroom extraction facility, we plan to bring more products to market.”
Other related developments from around the markets include:
New Wave Holdings Corp. announces Way of Will’s plan to broaden its relationship with food, drug, and mass merchandisers after its temporary exclusivity arrangement with Whole Foods Market U.S. recently concluded. Way of Will is setting its sights on expanding their presence in the food/drug/mass (FDM) market in the US through their continuing partnership with United Natural Foods Inc. (UNFI) since August 2020. With the recent release from a 6-month product exclusivity agreement with Whole Foods Market U.S., Way of Will products is now readily available to over 50 supermarket chains and mass market retailers through UNFI.
Havn Life Sciences, a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, is pleased to announce today that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company in the United States. The Company’s common shares are quoted in the United States on the OTC Venture Market under the symbol “HAVLF”
Halo Collective Inc. provided a comprehensive update about Bophelo Bioscience & Wellness (Pty) Ltd. — the Company’s wholly owned subsidiary which is operating a 200-hectare cannabis site near Mafetang in Lesotho, Africa. Bophelo quadrupled the amount of cultivation space in the last year, despite the site’s depletion of necessary imported goods for its development resulting from the current climate of the COVID-19 pandemic. Specifically, the Bophelo operations expanded from 5,400 square feet to over 21,000 square feet of flowering canopy. Currently, this year’s harvest is expected to yield 750 kilograms of product, selling 1,000 kilograms this year. As part of Bophelo’s upward trajectory, it is expected the buildout for flowering canopy will reach up to 1.2 hectares this year with further plans to expand to up to 2.2 hectares by the end of 2022.
Numinus Wellness Inc., a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to announce that it has entered into an agreement with Eight Capital and Canaccord Genuity Corp. The Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a prospectus supplement to the Company’s short form base shelf prospectus dated March 12, 2021, an aggregate of 24,000,000 units at a price of $1.25 per Unit for aggregate gross proceeds to the Company of $30 million. Each Unit shall consist of one common share (each a “Common Share”) and one-half of one common share purchase warrant of the Company (each a “Warrant”). Each Warrant shall be exercisable to acquire one common share of the Company for a period of 24 months from closing of the Offering at an exercise price of $1.75 per Warrant.
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