Why the Magic Mushroom Story Could be as Big as the Cannabis Boom
FinancialNewsMedia.com News Commentary
PALM BEACH, Florida, Sept. 24, 2019 /PRNewswire/ -- As cannabis legalization spreads, another drug may soon follow in its footsteps -- psilocybin mushrooms. In fact, analysts argue mushrooms may hold untapped medical properties that could be used to help treat depression and addiction. Better, the U.S. FDA already granted "breakthrough status" to COMPASS Pathways' psilocybin-assisted therapy in October 2018, which allows the FDA assist in the development of a promising drug to treat serious illnesses. In addition, researchers at New York University found psilocybin mushrooms caused a "rapid and sustained" reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. Psychiatrists at Johns Hopkins University even found that mushrooms can help with smoking cessation, and another study found it can assist with alcohol dependence. That's all opening a wide range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (OTCQB:BOSQF) (CSE:BOSS), Charlotte's Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB), Green Growth Brands Inc. (OTCQB:GGBXF) (CSE:GGB), GW Pharmaceuticals (NASDAQ:GWPH), and Tilray Inc. (NASDAQ:TLRY).
The Yield Growth Corp.(CSE:BOSS) (OTCQB:BOSQF) BREAKING NEWS:The Yield Growth Corp. just announced that its newly created subsidiary Flourish Mushroom Labs Inc. entered into an agreement on September 20, 2019 to purchase nine recipes which include edible mushrooms as a key ingredient. The acquisition is from a consortium of creators of the formulas, including a chemical engineer, a holistic health coach and food chemist, and a chef, and is expected to be completed within 30 days. The formulas and know-how to be acquired relate to formulations that may be used to create ready to eat packaged food products or packaged food products that may be mixed with mushroom varietals of the consumer's choice. The formulations are Chai latte green tea flavor mushroom tea, Lemon grass, lemon and hibiscus lemon mushroom tea, Veggie mix for mushroom soup, Miso dehydrated seaweed mix for mushroom soup, Hot cocoa, coconut sugar and vanilla flavored mushroom elixir, Pumpkin spice mushroom elixir, White chocolate truffle relaxing formula, Dark chocolate truffle energy formula, and Wild mushroom bliss ball with coco and dried fruits.