According to a report by Research and Markets, the global functional food market is forecast to reach $34.3 billion (USD) by 2024 and two companies are joining forces to capitalize on this industry.
EuroLife Brands Inc. (CSE: EURO, OTCPK: CANVF, Forum) stated on Tuesday that it has gained exclusive rights to distribute
Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, Forum) brand mushroom-infused coffee mixes developed by BOSS' subsidiary,
Flourish Mushroom Labs Inc. Various wild mushrooms such as Lion's Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps are planned for the initial line of infused mushroom coffee mixes.
Yield Growth CEO Penny White
stated that using EuroLife’s consumer analytics and marketing tools, the plan is to launch these mushroom infused coffee mixes across Europe and include products with microdoses of psilocybin from magic mushrooms “As legalization of psychedelics unfolds.”
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This comes just after EuroLife
secured an exclusive preferred distributor agreement with
Champignon Brands Inc. and its portfolio of mushroom derived CPG offerings including their flagship brand, Vitality Superteas. EuroLife operates in the worldwide medical, recreational and CPG cannabis industry.
Yield Growth utilizes hemp, cannabis and edible mushroom assets for the global wellness market and recently scored a
$3 million license to 126 mushroom and psilocybin infusion formulas for Flourish Mushroom Labs.
FULL DISCLOSURE: EuroLife Brands Inc. and Yield Growth Corp. are clients of Stockhouse Publishing.