January 14, 2020 – Vancouver, BC: The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (FE:YG3) announces its subsidiary Flourish Mushroom Labs Inc. has appointed Dr. William Panenka, MD, MSc, FRCPC (Neurology and Psychiatry) as Chair of its Medical Advisory Board.
Dr. Panenka is a dually boarded Neurologist and Psychiatrist and Canadian Institute of Health Research funded academic faculty 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. He is the founder and a director of Translational Life Sciences Inc., a company that aims to develop products using restricted substances for clinical applications.
Dr. Panenka has authored over 30 publications in the last 5 years. He is an Assistant Professor, Department of Psychiatry, UBC, a Mental Health and Substance Use Services Research Institute Investigator, a Member of the British Columbia Provincial Neuropsychiatry Program, the Medical Lead of Neuropsychiatry Concussion Clinic, and a Neurology consultant at the Fraser Health Acquired Brain Injury Concussion Clinic.
“Dr. Panenka’s dedication to research in treating addictions and his expertise in clinical trials, neurology and psychiatry make him an ideal advisor to help establish Flourish Mushroom Labs as a leader in the fast growing industry of psychoactive medicines,” says Yield Growth CEO Penny White.
About Flourish Mushroom Labs Inc.
Flourish Mushroom Labs aims to be a leader in the fast-growing functional foods market—and improve life by offering high-quality mushroom-infused products. Flourish Mushroom Labs is planning to build a psilocybin mushroom laboratory in Saint Vincent and the Grenadines and is conducting research into potentially therapeutic benefits of compounds found in psychedelic 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 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, Procter & Gamble, Skechers and Aritzia. 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 and plan to launch a CBD from hemp topicals line in California in 2020. 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.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
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, intellectual property protection, 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. The laws around cultivating, selling and using psychedelic mushrooms would need to change in most jurisdictions in order for the use of psychedelic products to be legal and sale of, and demand for, Urban Juve, Wright & Well, Flourish Mushroom Labs, Jack n Jane and UJ Beverages 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. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, 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 Yield Growth 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.