Champignon Brands (CSE: SHRM), a wellness company
specializing in medicinal mushroom and mushroom-infused products, today
announced the expansion of its vertically integrated, alternative medicine
product portfolio with the addition of new proprietary intellectual property
(“IP”). SHRM recently entered into a definitive agreement, signed March 18,
2020, to acquire Novo Formulations Ltd. (“Novoformulations”), a specialty
biotechnology company focused on developing novel and innovative delivery
systems for the pharmaceutical and nutraceutical industries. Per the terms of
the agreement, Champignon will acquire 100% of the issued and outstanding
shares of Novoformulations for a total consideration of 12.5 million common shares
in the capital of the company at a deemed price of $0.2475 each. A finder’s fee
is also applicable to this transaction. The Novoformulations team is comprised
of skilled PhDs and technician level scientists presently working with
ketamine, anaesthetics and adaptogenics, as well as various pharmaceuticals and
natural molecules. Champignon aims to leverage Novoformulations’ existing
product development infrastructure and licensed affiliates to pursue psilocybin
and MDMA based formulations, with the goal of developing and commercializing
rapid onset treatments with the potential of improving health outcomes,
including depression, PTSD and substance and alcohol use disorders (“DPS”).
“The existing infrastructure inherited from these recent acquisitions positions
us as a leading participant throughout the entire alternative medicine
lifecycle, from R&D to formulation, manufacturing and end distribution. The
end result will be a turnkey solution that incorporates both standardized
ingredient mixtures and pharmaceutical grade products that can now be marketed
via a variety of proprietary delivery systems,” Champignon CEO Gareth Birdsall
stated in the news release. “The addition of Novoformulations allows Champignon
to deliver medications in a safer, more effective and more expeditious manner
than our peers, from bench top in the laboratory, to preclinical and clinical
trials. We are intent on the commercialization of products throughout North
America, as rapidly as is safely and effectively practicable.”
To view the full press release, visit http://ibn.fm/UOscV
About Champignon Brands Inc.
Champignon Brands Inc. (CSE: SHRM) is a Canada-based company
dedicated to the distribution of artisanal medicinal mushrooms infused
products. The Champignon team is mandated with enhancing the health and
wellness of millions of potential consumers through the distribution of a
premium, mushroom-infused product suite. Champignon continues to be inspired by
sustainability, as all of its eligible SKUs are organic, non-GMO and vegan
certified. For more information, visit the company’s website at www.Champignonbrands.com.
NOTE TO INVESTORS: The latest news and updates
relating to SHRM are available in the company’s newsroom at http://ibn.fm/SHRM
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment