Psilocybin Mushrooms Quickly Emerging as Powerful Way to Treat Depression and Addiction

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Nov 12, 2019, 08:45 ET

PALM BEACH, Florida, Nov. 12, 2019 /PRNewswire/ -- Johns Hopkins Medicine and New York University aren't the only institutions uncovering the benefits of psilocybin mushrooms. According to a study featured in a 2016 issue of Science Direct, as highlighted by GOOD Magazine, psilocybin mushrooms are effective at treating treatment-resistant depression. Findings also highlighted the drug as an effective way to treat tobacco and alcohol addiction, as well. "People who used psychedelics have lower rates of psychological distress and suicidality than those who used no psychedelics." As excitement builds, it's opening a range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF), Aphria Inc. (NYSE:APHA) (TSX:APHA), and iAnthus Capital Holdings Inc. (CSE:IAN) (OTCQX:ITHUF).

The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that on November 8, 2019 it entered into a definitive agreement with Eurolife Brands (CSE: EURO)(FSE:3CMA) for the exclusive distribution of Yield Growth's line of mushroom infused coffee mixes being developed through subsidiary Flourish Mushroom Labs Inc. The distribution agreement grants Eurolife Brands exclusive distribution rights in Germany, the United Kingdom and Switzerland for the mushroom coffee line being developed by Yield Growth subsidiary Flourish Mushroom Labs. The initial exclusivity period is one year with options to extend the term provided certain minimum sales are met. The agreement also grants Eurolife Brands non-exclusive distribution in other territories for two years, with a provision to exclude one or more territories on two-month notice from Flourish Mushroom Labs. The parties plan to integrate the mushroom coffee mix products into Eurolife Brands' e-commerce platform in Q2 2020, after testing and registrations are complete. The initial line of mushroom coffee mixes will be infused with various wild mushrooms such as Lion's Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps. "We are excited to partner with Yield Growth, who has demonstrated expertise in the international launch of products with potent ingredients," says Shawn Moniz, CEO of Eurolife. "Our research indicates a huge opportunity to sell the Flourish Mushroom Labs mushroom coffee line to European consumers who are educated and health conscious and demand high quality products that are on the cutting edge of their respective industry segments."

Other cannabis-related developments from around the markets include:

Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) announced that they have entered into agreements to launch the More Life Growth Company, a fully licensed producer of cannabis based in Drake's hometown of Toronto, Canada. "When we first began talks with Drake we were extremely inspired by and aligned with his vision to bring best-in-class cannabis products to the world," said Mark Zekulin, CEO, Canopy Growth Corporation. "Drake's perspective as a culture leader and entrepreneur combined with Canopy Growth's breadth of cannabis knowledge will allow our new company to bring an unmatched cannabis experience to global markets." Drake's eclectic career includes experience across a wide variety of industries including music, television, film, fashion, sports, brand development, content curation and social and digital media strategy. Having launched numerous successful brands over the past decade, he is uniquely positioned to bring his innovative eye to the recreational cannabis industry. The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting," shared More Life Growth Company founder, Drake. "The idea of being able to build something special in an industry that is ever growing has been inspiring. More Life and More Blessing."

The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) announced that the Company expects to release its third quarter 2019 earnings on Thursday, November 14, 2019 after market close. The Company will hold a conference call conducted by Brian Athaide, Chief Executive Officer, and Sean Bovingdon, Chief Financial Officer, on November 15, 2019 at 9:00 am Eastern to discuss the results and future outlook.

Aphria Inc. (NYSE:APHA) (TSX:APHA) announced it has received a cultivation licence from Health Canada for Aphria Diamond, the Company's second Leamington, Ontario cannabis greenhouse facility, bringing an additional 1,300,000 square feet of production space with an annual growing capacity of 140,000kg. Combined with the Company's Aphria One facility and its subsidiary Broken Coast Cannabis, the Company now has more than 2,400,000 square feet of cultivation space capable of reaching a total annualized production capacity of 255,000kg. "We are extremely pleased to receive the licence for our long-awaited Aphria Diamond facility, which more than doubles our Canadian production capacity," said Irwin D. Simon. "Reaching industry-leading production levels coinciding with the expansion into new categories and new opportunities for cannabis in Canada and around the world is a transformative moment for Aphria Inc."

iAnthus Capital Holdings Inc. (CSE:IAN) (OTCQX:ITHUF) announced that it will release its third quarter 2019 financial and operating results on Wednesday, November 20, 2019 after the market closes. The Company will host a conference call for financial analysts and investors at 8:30am ET on Thursday, November 21, 2019 to discuss the Company's third quarter results. The call will be archived and available for replay on iAnthus' website.

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