February 4, 2020 – Vancouver, BC: The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (FE:YG3) announces its subsidiary Flourish Mushroom Labs has appointed leading patent lawyer, Charles Boulakia, to its advisory board. Charles has over 20 years of experience in the preparation and prosecution of patent applications in a variety of industries including: biotechnology, chemistry, biofuel, oil and gas and pharmaceuticals.
“Our plan is to develop proprietary processes for the cultivation, extraction and processing of psilocybin magic mushrooms, and also develop data through trials about dosages and uses of psilocybin for therapeutic use,” said Penny White, CEO of Flourish Mushroom Labs and The Yield Growth Corp. “Charles’ expertise will be an enormous asset as we develop our intellectual property strategy. He will also be instrumental in our efforts to scientifically prove certain therapeutic benefits of magic mushrooms.”
Charles is a partner of Ridout & Maybee LLP in the firm’s Toronto office, and in addition to designing and filing patent applications, Charles provides his clients with IP due diligence, validity, and freedom to operate opinions. He also drafts and negotiates license agreements and advises on food and drug regulatory law, including product labelling and advertising.
Charles is Vice-Chair of the AIPPI Standing Committee on Pharma and Biotechnology and the Treasurer of the Royal Canadian Institute for Science.
He provides pro bono advice on IP law for the Law and Business Clinic at Ryerson University, volunteers on the selection committee for the Norman Esch Engineering Innovation and Entrepreneurship Award and is a mentor at the University of Toronto Entrepreneurship Hatchery.
Flourish Mushroom Labs has filed a U.S. provisional patent application in the United States for the invention relating to methods of using psychedelic mushrooms for weight loss.
Flourish Mushroom Labs’ pending patent seeks to protect the invention that administration of psilocin and/or psilocybin results in overall weight loss in individuals by reducing food cravings, counteracting compulsive overeating, and aiding in improving quality of diet by altering food choices. The patent pending covers the use of microdose administration of psilocin/psilocybin to have the additional weight loss effect of increasing metabolism, which, combined with a decrease in food cravings or compulsive overeating, or altering food choices to less calorie dense foods, could result in substantial and beneficial weight loss. The Flourish Mushroom Labs pending patent also covers the use of psilocin/psilocybin in treatment or regulation of diabetes, and regulation of blood glucose and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity.
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, licenses and sells plant-based products and formulas and conducts research into plant-based medicine 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 team has experience as executives at billion dollar consumer packaged goods companies Johnson & Johnson, Procter & Gamble, MAC Cosmetics and Aritzia and experience at Nestle, PepsiCo and Coca-Cola. Its all natural hemp skincare brand, Urban Juve, has 14 products for sale at Urbanjuve.com, is available at retailers in Canada, and the U.S. and has signed agreements for distribution in 12 other countries. Wright & Well is an Ayurveda-inspired line of THC and CBD edibles and topicals sold in Oregon. Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 13 patents to protect its extraction methods and formulas. 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.