Top Cannabis Companies Getting Involved With Magic Mushrooms to Treat Depression and Addiction

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Oct 28, 2019, 08:45 ET

PALM BEACH, Flordia, Oct. 28, 2019 /PRNewswire/ -- Another drug may soon follow it the footsteps of cannabis -- 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. In addition, according to healthline.com, studies have shown that cordyceps (medicinal mushrooms) boost exercise performance, improve memory and sex drive, slow growth of tumors and can improve heart health. 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), GW Pharmaceuticals (NASDAQ: GWPH), Tilray Inc. (NASDAQ: TLRY), Aphria Inc. (NYSE: APHA) (TSX: APHA), and Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF).

The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that it has completed initial development of a formula for mushroom coffee to launch a new line of mushroom infused coffee mixes through its wholly owned subsidiary Flourish Mushroom Labs Inc. Yield Growth has engaged developers to create additional products to add to its base catalogue of mushroom formulas acquired on October 10, 2019. Through its subsidiary Flourish Mushroom Labs, intends to commercialize the formulas, going to market first with mushroom based soups and coffees. The first product developed by since its acquisition of the edible mushroom catalogue is the mushroom coffee. The mushroom coffees will be infused with various wild mushrooms such as Lion's Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps. Yield Growth plans to go into testing in the next quarter for these products so they can go to market in early 2020. "We are excited about the potential for therapeutic use of legal edible mushrooms and intend to launch our coffee products in Canada and the U.S. in 2020," says Penny White, Yield Growth CEO. "We are also researching the legality of developing products or conducting trials on products that contain psilocin or psilocybin from magic mushrooms for potential medical use."

Other related developments in Yield Growth's industry include:

GW Pharmaceuticals PLC (NASDAQ: GWPH) will announced on November 5th, 2019 its financial results for the third quarter ending September 30^th, 2019. GW will also host a conference call the same day at 4:30 p.m. ET. Conference call information will be provided in the financial results press release. A replay of the call will also be available through the Company's website shortly after the call.

Tilray Inc. (NASDAQ: TLRY) just announced it has successfully imported medical cannabis into the United States from Canada in support of a new clinical trial. The study will test the efficacy of medical cannabis in treating patients with breast cancer who are suffering from taxane-induced peripheral neuropathy (TIPN) secondary to treatment with paclitaxel or docetaxel. This clinical trial is the first human study testing the effectiveness of medical cannabis to treat TIPN. "We're excited to support this groundbreaking, first-of-its-kind trial seeking to find a new treatment option for TIPN," says Philippe Lucas, Tilray's Vice President of Global Patient Research and Access. "Tilray is committed to advancing cannabis research through its support of clinical trials around the world as we continue to enhance our understanding of the potential benefits of medical cannabis." Led by Diana Martinez, M.D., Professor of Psychiatry at Columbia University Irving Medical Center (CUIMC), and Margaret Haney, Ph.D., Professor of Neurobiology (in Psychiatry) at CUIMC, the clinical trial will be a randomized placebo-controlled study in which half of participants will receive an investigational product containing a combination of THC and CBD and the other half will receive a product with no active cannabinoids. Participants will be treated twice daily for eight weeks. Researchers are currently recruiting patients for the study.

Aphria Inc. (NYSE: APHA) (TSX: APHA) reported its results for the first quarter ended August 31, 2019. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts. "We are pleased to report a second consecutive quarter of profitable growth with strong contribution from our Canadian cannabis operations. Our success was also driven by our international business and the strength and growth of our brands, particularly Broken Coast, despite a small fire at our British Columbia facility at the end of the quarter. This solid start to the year keeps us on track to achieve our fiscal year 2020 financial outlook," stated Irwin D. Simon. "Going forward, we remain focused on our highest-return priorities both in Canada and internationally as our team furthers the development of our medical and adult-use cannabis brands to drive growth through innovation and return value to shareholders."

Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF) and Nielsen just announced an analytic relationship between the world's leading CBD brand with the world's leading market intelligence company. Together, Nielsen and Charlotte's Web will help guide the U.S. retail market for consumer-packaged goods (CPG) companies through the evolution of the CBD space. Mirroring the changing tide happening across the U.S. retail and CPG industry, this new relationship marks an open and symbiotic relationship that is forming between the emerging CBD industry and the U.S. retail and manufacturing community. Charlotte's Web is an industry pioneer and the market leader of hemp-CBD extract products. Leveraging its deep product knowledge and category vision, this new relationship will provide unprecedented visibility into market-leading trends, highlighting segments, brands and products that are resonating with consumers in the CBD market. This alliance will also provide insight into consumer attitudes, product preferences, use occasions and future intent tied to consumer interaction points within CPG categories which will help establish Charlotte's Web as thought leaders and category captains of the hemp CBD category. Collectively, this powerful suite of information will enable U.S. CPG manufacturers and retailers to more easily measure and predict the impact of hemp CBD on the CPG industry and strategize accordingly. The announcement with Charlotte's Web comes as Nielsen steadily develops a full suite of cannabis measurement capabilities, inclusive of strategic alliances such as the one with Headset, the leading data and analytics service provider measuring and analyzing the legal Cannabis dispensary channel.

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