YIELD GROWTH Subsidiary Flourish Mushroom Labs Completes Acquisition of Founding Interest in Biotechnology Start Up Translational Life Sciences Inc.
Thu February 6, 2020
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2020) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces its subsidiary Flourish Mushroom Labs Inc. has completed an acquisition of approximately 18% of the outstanding shares of Translational Life Sciences Inc. ("TLS"
.
Flourish Mushroom Labs Completes Acquisition of Founding Interest in Translational Life Sciences Inc.
TLS is a biotechnology company focused on developing proprietary formulations that contain restricted substances such as psilocybin and cannabis to serve unmet medical needs in the market. This includes opioid dependence, psychotic illness, pain management and traumatic brain injuries such as concussions. The company also offers services to design and oversee clinical trials of restricted substances for third parties.
The TLS team is comprised of physicians and scientists who are recognized thought leaders in the fields of Neurology, Pharmacology, Pain Management, Addiction and Biochemistry and have significant experience in the clinical application of cannabinoid compounds.
The company's principal medical team includes
Dr. William Honer: Head, Scientific Advisory Board at TLS and an Internationally recognized translational scientist and physician. He is a Psychiatrist and the previous Head of the Department at UBC. He is Fellowship trained at Columbia University and the Albert Einstein College of Medicine. He has published over 300 peer-reviewed manuscripts including primary clinical trial authorship works in journals such as the New England Journal of Medicine.
Dr. Caroline MacCallum is the Chief Medical Officer of TLS. She is a pharmacist and internal medicine physician with deep expertise in complex pain and medical cannabis. She is a medical director of a Vancouver- based private cannabis clinic and an internationally sought after speaker and world recognized leader in cannabis education, policy, clinical guideline development and research.
Dr. William Panenka, MD, MSc, FRCPC (Neurology and Psychiatry). The founder of TLS, Dr. Panenka, is a dually boarded Neurologist and Psychiatrist and a Canadian Institute of Health Research funded academic faculty member at the University of British Columbia. He did a post doctoral fellowship at UBC and Harvard University. He maintains an internationally recognized research program in brain injury, mental health and addictions.
Yield Growth subsidiary Flourish Mushroom Labs issued 15,000,000 units of Flourish, consisting of 15,000,000 shares (approximately 10% of Flourish outstanding shares) and 15,000,000 warrants to acquire additional Flourish shares at $0.50 per share, and in consideration Flourish acquired approximately 18% of the TLS outstanding stock, at a deemed cost of $750,000.
No shares or warrants in Yield Growth were issued as part of the transaction.
"As a founder in TLS, we will now work with TLS to increase the value of our investment by helping it build out its management team, raise additional capital and complete its plans to develop intellectual property in plant based medicine," says Yield Growth and Flourish CEO Penny White. "We believe our alliance with TLS will help establish us a leader in the emerging industry of psychedelic medicine."
Psychedelic medicine involves research and investigations into mind-altering substances to treat illnesses. On January 13, 2020 COMPASS Pathways, a mental health care company, announced that it had been granted a US Patent relating to methods of treating drug-resistant depression with a psilocybin formulation.
According to CNBC, German company ATAI Life Sciences, a major investor in COMPASS, announced in March 2019 that it has raised more than $40 million in new financing, valuing the company at $240 million. ATAI is also targeting a potential initial public offering, for which, according to Bloomberg, ATAI provided a valuation target figure of $800 million to COMPASS.
The Centers for Disease Control and Prevention estimated that the total "economic burden" of prescription opioid misuse alone in the United States is $78.5 billion a year, including the costs of healthcare, lost productivity, addiction treatment, and criminal justice involvement.
About Flourish Mushroom Labs Inc.
Flourish Mushroom Labs aims to legally and safely commercialize psilocybin (magic) mushrooms. Flourish Mushroom Labs is planning to build a psilocybin mushroom laboratory in St. Vincent and the Grenadines and is conducting research into potential therapeutic benefits of compounds found in magic mushrooms. It has filed a U.S. patent application for the use of psilocybin to aid in weight loss and treat obesity, diabetes and to help prevent heart disease. Flourish also plans to be a leader in the fast-growing medicinal mushrooms market-and improve life by offering high-quality mushroom-infused products. Flourish Mushroom Labs is a majority owned subsidiary of The Yield Growth Corp.
About The Yield Growth Corp.
The Yield Growth Corp. develops and manufactures plant-based products and conducts research for plant-based therapeutics in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson (JNJ), Procter & Gamble, Skechers and Aritzia (ATZAF). Its all natural hemp skincare brand, Urban Juve, has signed agreements for distribution in Canada, Colombia, Brazil, Costa Rica, Panama, Argentina, El Salvador, Ecuador, Peru, Greece, Cyprus, Bulgaria, Romania and Serbia. Yield Growth's Wright & Well brands have manufactured a THC/CBD line of topical and edible products in Oregon. Through its subsidiaries, Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 13 patents to protect its extraction method and other intellectual property. Yield Growth earns revenue through multiple streams including licensing, services and product sales.
For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #findyourjuve across social platforms to learn, engage and shop.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
invest@yieldgrowth.com
1-833-514-BOSS 1-833-514-2677
1-833-515-BOSS 1-833-515-2677
https://seekingalpha.com/pr/17770899-yield-gr...nterest-in
Thu February 6, 2020
Vancouver, British Columbia--(Newsfile Corp. - February 6, 2020) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announces its subsidiary Flourish Mushroom Labs Inc. has completed an acquisition of approximately 18% of the outstanding shares of Translational Life Sciences Inc. ("TLS"
. Flourish Mushroom Labs Completes Acquisition of Founding Interest in Translational Life Sciences Inc.
TLS is a biotechnology company focused on developing proprietary formulations that contain restricted substances such as psilocybin and cannabis to serve unmet medical needs in the market. This includes opioid dependence, psychotic illness, pain management and traumatic brain injuries such as concussions. The company also offers services to design and oversee clinical trials of restricted substances for third parties.
The TLS team is comprised of physicians and scientists who are recognized thought leaders in the fields of Neurology, Pharmacology, Pain Management, Addiction and Biochemistry and have significant experience in the clinical application of cannabinoid compounds.
The company's principal medical team includes
Dr. William Honer: Head, Scientific Advisory Board at TLS and an Internationally recognized translational scientist and physician. He is a Psychiatrist and the previous Head of the Department at UBC. He is Fellowship trained at Columbia University and the Albert Einstein College of Medicine. He has published over 300 peer-reviewed manuscripts including primary clinical trial authorship works in journals such as the New England Journal of Medicine.
Dr. Caroline MacCallum is the Chief Medical Officer of TLS. She is a pharmacist and internal medicine physician with deep expertise in complex pain and medical cannabis. She is a medical director of a Vancouver- based private cannabis clinic and an internationally sought after speaker and world recognized leader in cannabis education, policy, clinical guideline development and research.
Dr. William Panenka, MD, MSc, FRCPC (Neurology and Psychiatry). The founder of TLS, Dr. Panenka, is a dually boarded Neurologist and Psychiatrist and a Canadian Institute of Health Research funded academic faculty member at the University of British Columbia. He did a post doctoral fellowship at UBC and Harvard University. He maintains an internationally recognized research program in brain injury, mental health and addictions.
Yield Growth subsidiary Flourish Mushroom Labs issued 15,000,000 units of Flourish, consisting of 15,000,000 shares (approximately 10% of Flourish outstanding shares) and 15,000,000 warrants to acquire additional Flourish shares at $0.50 per share, and in consideration Flourish acquired approximately 18% of the TLS outstanding stock, at a deemed cost of $750,000.
No shares or warrants in Yield Growth were issued as part of the transaction.
"As a founder in TLS, we will now work with TLS to increase the value of our investment by helping it build out its management team, raise additional capital and complete its plans to develop intellectual property in plant based medicine," says Yield Growth and Flourish CEO Penny White. "We believe our alliance with TLS will help establish us a leader in the emerging industry of psychedelic medicine."
Psychedelic medicine involves research and investigations into mind-altering substances to treat illnesses. On January 13, 2020 COMPASS Pathways, a mental health care company, announced that it had been granted a US Patent relating to methods of treating drug-resistant depression with a psilocybin formulation.
According to CNBC, German company ATAI Life Sciences, a major investor in COMPASS, announced in March 2019 that it has raised more than $40 million in new financing, valuing the company at $240 million. ATAI is also targeting a potential initial public offering, for which, according to Bloomberg, ATAI provided a valuation target figure of $800 million to COMPASS.
The Centers for Disease Control and Prevention estimated that the total "economic burden" of prescription opioid misuse alone in the United States is $78.5 billion a year, including the costs of healthcare, lost productivity, addiction treatment, and criminal justice involvement.
About Flourish Mushroom Labs Inc.
Flourish Mushroom Labs aims to legally and safely commercialize psilocybin (magic) mushrooms. Flourish Mushroom Labs is planning to build a psilocybin mushroom laboratory in St. Vincent and the Grenadines and is conducting research into potential therapeutic benefits of compounds found in magic mushrooms. It has filed a U.S. patent application for the use of psilocybin to aid in weight loss and treat obesity, diabetes and to help prevent heart disease. Flourish also plans to be a leader in the fast-growing medicinal mushrooms market-and improve life by offering high-quality mushroom-infused products. Flourish Mushroom Labs is a majority owned subsidiary of The Yield Growth Corp.
About The Yield Growth Corp.
The Yield Growth Corp. develops and manufactures plant-based products and conducts research for plant-based therapeutics in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson (JNJ), Procter & Gamble, Skechers and Aritzia (ATZAF). Its all natural hemp skincare brand, Urban Juve, has signed agreements for distribution in Canada, Colombia, Brazil, Costa Rica, Panama, Argentina, El Salvador, Ecuador, Peru, Greece, Cyprus, Bulgaria, Romania and Serbia. Yield Growth's Wright & Well brands have manufactured a THC/CBD line of topical and edible products in Oregon. Through its subsidiaries, Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 13 patents to protect its extraction method and other intellectual property. Yield Growth earns revenue through multiple streams including licensing, services and product sales.
For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #findyourjuve across social platforms to learn, engage and shop.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
invest@yieldgrowth.com
1-833-514-BOSS 1-833-514-2677
1-833-515-BOSS 1-833-515-2677
https://seekingalpha.com/pr/17770899-yield-gr...nterest-in
