The Yield Growth Corp (CSE: BOSS) entered into a definitive agreement with Eurolife Brands Inc. for the exclusive distribution of Yield Growth’s line of mushroom-infused coffee mixes being developed through subsidiary Flourish Mushroom Labs Inc.
The distribution agreement grants Eurolife Brands exclusive distribution rights in Germany, the United Kingdom and Switzerland for the mushroom coffee line being developed by Yield Growth subsidiary Flourish Mushroom Labs. The initial exclusivity period is one year with options to extend the term provided certain minimum sales are met. The agreement also grants Eurolife Brands non-exclusive distribution in other territories for two years, with a provision to exclude one or more territories on a two-month notice from Flourish Mushroom Labs. The parties plan to integrate the mushroom coffee mix products into Eurolife Brands’ e-commerce platform in the second quarter of 2020, after testing and registrations are complete. The initial line of mushroom coffee mixes will be infused with various wild mushrooms such as Lion’s Mane, Turkey Tail, reishi, shitake, chagas and Cordyceps.
- Exclusive distribution rights in Germany, the United Kingdom and Switzerland
- Non-exclusive distribution rights in various other locales globally
- Global functional food market is forecasted to reach $34.3-billion (U.S.) by 2024
According to the Psilocybin Technology website: “Based on newfound benefits of magic mushrooms and the changing cultural (and legal) climate, some early movers have started working on psilocybin-containing consumer products, like foods and beverages … On account of their newly appreciated health benefits and safety profile, magic mushrooms could become the next cannabis.”
The global functional food market is forecasted to reach $34.3-billion (U.S.) by 2024, growing at a CAGR (compound annual growth rate) of 8.04 per cent during the forecast period (2019 to 2024), according to a report by Research and Markets.
An Oct. 21, 2019, a press release by Fortune Business Insights entitled, “Why the Functional Mushrooms Market is set to explode,” predicts that the global functional mushrooms market will gain momentum from growing awareness of the health benefits of mushrooms.