Vancouver, B.C. – October 20, 2020: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) is pleased to announce that its majority owned subsidiary NeonMind Biosciences (“NeonMind”) has completed production of two out of four of its superfood mushroom coffee blends. The first NeonMind Superfood instant coffees will be ready to ship to their warehouse in early November. The initial two formulas are an Ayurveda-inspired blend of reishi, lions mane, ashwagandha and turmeric with premium instant coffee. The functional mushrooms are antioxidant and nutrient-rich, with adaptogenic, immune-boosting properties. The Company plans to launch its eCommerce website in November and will rely heavily on influencer marketing to educate a broader consumer base on the taste and health benefits of mushroom coffees.
“Functional mushrooms are increasing in popularity for their ability to increase mental clarity, as well as for their range of health benefits, including immune support and energy-boosting qualities,” said Penny White, CEO of Better Plant Sciences. “We have formulated our coffees to be both healthy and delicious, and our instant blend is convenient, easy, and perfect for those on the go or those who are only looking to enjoy one cup at a time.”
Having just completed manufacturing of the two instant coffee blends, they will now undergo third-party testing as required by Health Canada regulations, and are expected to be ready to ship to our warehouse in early November. They will then begin manufacturing two brewed coffee formulations, with production to be followed by the same required third-party testing. The brewed coffees are expected to be ready to ship to our warehouse in mid-November. All four products have been registered with Vancouver Coastal Health. The Company’s plan is to commercially launch the mushroom coffees via a new eCommerce website in late November 2020.
The global functional mushroom market is expected to reach USD$78.7 billion by 2025, from USD$38.1 billion in 2017 growing at a CAGR of 9.5% during the forecast period of 2018 to 2025, according to Data Bridge Market Research.
About NeonMind Biosciences Inc.
NeonMind is engaged in research and development of products that use functional and psychedelic mushrooms to optimize human health and performance. The company is launching a line of coffees infused with health optimizing functional mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents. NeonMind owns 18% of Translational Life Sciences Inc. Better Plant Sciences owns approximately 69% of the issued and outstanding stock of NeonMind.
About Better Plant Sciences Inc.
Better Plant develops and acquires intellectual property and other assets related to plant-based products and therapeutics. Through its integrated business model, Better Plant develops, manufactures, markets, sells and distributes plant-based products. It owns over 400 proprietary product formulas. It operates websites and sells through eCommerce, Amazon and through a retail store network over 150 plant based products for body, baby and home under the brands JUSU, Urban Juve and Wright & Well. Its majority-owned subsidiary NeonMind Biosciences Inc. is launching a line of coffees infused with health optimizing functional mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for Health Canada approval to begin preclinical trials to study its pending psychedelic medicine patents.
Investor Relations Contact:
Penny White, President & CEO
Ali Dumanski, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
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This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.