MONTREAL, Oct. 20, 2022 /CNW Telbec/ – The Good Shroom Co Inc. (the “Company” or “MUSH“) through its subsidiary Teonan Biomedical Inc., operates Nordique Royale and is pleased to announce that it has begun selling another hash product and another cannabis flower in Quebec.
OG Hawaïenne by Nordique Royale and Cherry Blossom by Velada both launch today. The Company received its first PO for these 2 products for $26,680.80 and is expected to receive replenishment PO’s every 1 to 3 weeks in addition to its other products. This launch is occurring in approximately 30% of all stores for the first 6 months and is expected to move into all stores thereafter. The size of its PO’s are also expected to increase concurrently at that time. The Company also has 6 other hash and cannabis flower products presently sold in Quebec and expects to launch another product in the infused pre-roll segment in the coming month.
The Company derived OG Hawaïenne from the success of its Afghan Gold sku which is consistently in the top 10 selling hash’s of Quebec according to https://quebec.weedcrawler.ca/best_sellers. Both products are dark and malleable with maximum THC content and a similar price point but OG Hawaïenne is made of a Pineapple Express base to obtain a most fruity and smooth smoke typically desired by consumers.
Cherry Blossom is a unique cannabis strain that is CBD dominant and therefore typically destined either for medical users or due to its smooth and pleasant flavour, add a level of flavour and smoothness to a joint. The Company’s Cherry Blossom is presently the only Cherry Blossom strain sold in Quebec and as a CBD dominant strain with less than 0.3% THC it is not subject to excise taxes from the Canada Revenue Agency which permits the Company to price this product very competitively at $19.30 per 3.5 gram unit which is expected to also help drive its popularity.
The current hash market in Quebec is worth approximately $55M annually. The Quebec market for pre-rolls, cannabis flower and hash combined represent approximately $650M annually.
MUSH operates a portfolio of brands which include traditional cannabis and beverage products. It exists to promote the use of functional ingredients such as probiotics and functional mushrooms in consumer products.
We all have a daily routine; be it coffee, tea or another. Why not make that routine functional for body and mind by adding probiotics and mushrooms to it? Up to now no company has been able to maintain a familiar taste at a fair price while making them truly functional. The Good Shroom Co has bridged that gap and intends on making its brands household names for making it a part of its customers daily routine.
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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, including the anticipated orders to be placed by the SQDC. 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: market acceptance of the Company’s hash and other cannabis products, changes in the vendor’s business or strategy, changes in our supplier’s operations and pricing, expectations regarding competition and their pricing strategy; 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 compliance with extensive government regulation; operational risks related to and COVID-19 or other pandemic and supply chain disruptions and shortages. 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.
