Sep 01, 2021, 09:00 ET
MONTREAL , Sept. 1, 2021 /CNW/ - The Good Shroom Co Inc. (the "Company" or "TGSC") (TSXV: MUSH), is pleased to announce that its wholly owned subsidiary and licensed cannabis processor (operating as Seul CBD) has been approved for general listing of its Velada brand cannabis products both online and in store in the province of Ontario. The accepted cannabis products will be offered starting January 2022.
Velada produces cannabis infused instant coffees and teas in a variety of different flavors such as café olé, matcha latte, golden milk latte, and hot chocolate. Each flavor has two options, one containing CBD only and a second containing CDB and THC at a 2:1 ratio. In line with the company's core mission to make beverages functional, all products contain a mix of flavourless mushroom adaptogens for additional wellness benefits. The Velada beverages, which are based on the Teonan formula's and regarded by Teonan customers as exceptionally great tasting, are all vegan, gluten free, non-GMO and sugar free.
This is the first step in a nationwide campaign to distribute Velada branded products across the entire country over the course of the next twelve months. TGSC, through its subsidiary, will continue to develop its distribution network as well as develop other cannabis products for the Canadian market.
About the Company
TGSC's mission is to build clean label brands that are synonymous with functionality, flavour and quality, rooted in a company recognized for having a socially responsible approach. Through its wholly owned subsidiary, Teonan, it manufactures and sells functional beverages under its two brands: Teonan and Velada. In line with growing consumer trends towards functional foods, Teonan created the instant beverage lines using a custom blend of organic mushroom extracts chosen for their known health benefits, all the while keeping the focus on developing delicious flavors. All of Teonan's instant beverage mixes are certified organic (Ecocert - USDA), vegan, dairy free, GMO free and gluten free. Teonan began direct to consumer sales of the Teonan beverages in North America, in December 2019, via its online stores and sales of the Velada beverages to authorized retailers is expected to commence in the coming months.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and sales. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Corporation's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected are the following: expectations with respect to the future growth of wellness beverages and edible cannabis industry; market acceptance of the products, plans for and timing of expansion of its products; expectations regarding competition; maintaining in good standing all necessary regulatory licenses and authorizations for its products; the benefits, safety, efficacy, dosing and social acceptance of cannabis related products and no material changes in the legal environment; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; operational risks related to and COVID-19 or other pandemic and supply chain disruptions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Trading in the securities of the Company should be considered highly speculative.
SOURCE The Good Shroom Co Inc.
For further information: Teonan Biomedical Inc., Eric Ronsse, President, tel: (514) 924-2574, [email protected]; website: thegoodshroom.co
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