Shroom Boom Offers New Possibilities for Medicine and Functional Foods - Seite 2

Champignon is committed to cultivating and distributing artisanal medical mushrooms and the CPGs derived from those mushrooms. As a legal market, this is new territory, and Champignon is a young company. The company recently successfully completed its initial public offering of more than 18 million common shares at a price of $0.15 per share for total gross proceeds of more than $2.8 million. The company's  common shares were listed on the Canadian Securities Exchange beginning February 27, 2020. After being halted pending completion of the IPO, the common shares resumed trading on the CSE on March 2, 2020, under the symbol SHRM. The company is also in the process of securing a listing in Germany as it seeks to establish an early presence in both North America and Europe.

This broad approach looks to be a savvy strategy for this emerging presence in the functional mushroom sector. While the legal cannabis market has become most firmly established in North America, it is now expanding into other parts of the world, and companies are rushing to broaden their presence to keep up. Laying the global groundwork now should position Champignon to make the most of the high-profile American market while also reaching other high-value, health-conscious consumers around the world.

Legalizing a Powerful New Medicine

Key to the work of Champignon and other functional mushroom companies is psilocybin. A naturally occurring chemical, psilocybin can be found in hundreds of types of mushrooms, providing 'shrooms with their psychedelic qualities. While the power of psilocybin has been well-recognized for decades, its medical potential is now being fully explored and unlocked.

This mushroom momentum is driven by growing acceptance from medical professionals and institutions. Thomas Insel, former director of the U.S. National Institute of Mental Health, and Paul Summergrad, former head of the American Psychiatric Association, are both on the board of advisers for Compass Pathways, a leading psilocybin company. Johns Hopkins, one of America's most prestigious research universities, has established a new psychedelic research center focused on examining the potential of such chemicals, largely funded through the efforts of angel investor Tim Ferriss.