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Doseology Launches Medicinal Mushroom Product Line in Canada to Supply Increasing Demand

C.MOOD

VERNON, BC, Feb. 23, 2022 /CNW/ - Doseology Sciences Inc. (CSE: MOOD) ("Doseology" or the "Company"), a British Columbia-based diversified life sciences company developing mushroom-based health and wellness solutions, announces the launch of its Health Canada NPN-approved medicinal mushroom product line in Canada, and preparation for a national multichannel marketing campaign.

Doseology Sciences Inc. Logo (CNW Group/Doseology Sciences Inc.)

About the Doseology Product Line

The Canadian product line includes five medicinal mushroom products for cognitive health benefits. Each product is formulated and positioned to compete in both the medicinal mushroom and nootropics markets, and each addresses different market needs, including mood, energy, recovery, sleep and focus.

Lion's mane (Hericium erinaceus) is a popular nootropic (mind-enhancing) mushroom featured in three of the new products. A staple of eastern medicine and the subject of numerous recent studies, lion's mane is thought to enhance creativity, sharpen thought clarity, improve mental focus, and support healthy brain functioning.

Lion's mane has immunomodulating properties which help maintain the immune system. Studies suggest that lion's mane may induce nerve growth factor (NGF) synthesis in nerve cells, and can be effective in improving mild cognitive impairment.

Test marketing was conducted during Q2 and Q3 of 2021 in the U.S. market using direct ecommerce and Amazon.com, concluding with positive consumer feedback.

The five medicinal mushroom products in the Canadian line are:

  • Elevate: Blend of lion's mane mushroom fruiting bodies, ginger root, and vitamin B3 to elevate mood and enhance cognitive clarity (tincture, 28 servings).
  • Wake: Blend of lion's mane mushroom fruiting bodies, yerba mate, and vitamins B6 and B12 to promote wakefulness and to support cognitive performance (tincture, 28 servings).
  • Boost: Blend of shiitake fruiting bodies and turmeric to provide the body with potent antioxidants to strengthen and support immunity (tincture, 28 servings).
  • Sleep: Blend of reishi mushroom fruiting bodies, German chamomile, and melatonin to promote relaxation and sleep onset (tincture, 28 servings).
  • Think: Blend of the fruiting bodies of lion's mane mushroom, reishi, shiitake, and chaga, yerba mate, rhodiola, choline, organic cocoa powder, and monk fruit extract. The super-shroom cognitive complex is formulated to give the brain the building blocks it needs to optimize cognitive function and to improve focus and alertness (cognitive complex powder, 30 servings).

Doseology is preparing a national marketing campaign to introduce the product line to Canadians and increase sales for distribution partners. The campaign will include a "back to nature" themed video to raise awareness of the healing role medicinal mushrooms have played for centuries, and to highlight Doseology's commitment to providing quality, research-based products. Watch a preview of the 90-second Back to Nature campaign video.

About Product Quality

"This launch is the culmination of extensive product development, market testing, and months of planning," said Doseology CEO Maryam Marissen.

"We're proud to finally deliver the benefits of nootropic medicinal mushrooms to our home market. We believe our strong brand, proprietary formulations, GMP standardization, and easy-to-use products will make our medicinal mushrooms the go-to brand in Canada."

All of the product formulations have received Health Canada Natural Product Numbers ("NPNs"). NPNs are granted to products with proven safety and effectiveness, and which are manufactured in Health Canada licensed facilities meeting good manufacturing practice (GMP) requirements.

The product line is proudly formulated using globally sourced natural ingredients and produced in Canada with industry-leading partners. Production quality and consistency are assured by processing in a modern facility with an excellent 30-year production record.

Products are vegan-friendly, cruelty-free, gluten-free, and contain no added sugar. Each formulation is third-party purity tested and verified with Certificates of Analysis (CoA) to meet Doseology's high quality standards.

About Adaptogenic Nutraceuticals

Adaptogens are used in herbal medicine to help people cope with physiological stress and return to homeostasis (biological balance). Significant research has shown positive effects of adaptogens with respect to stress reduction, resistance to mental fatigue, and improved attention capacity.

The Doseology line combines adaptogens such as ginger, turmeric, yerba mate, and several mushroom species, with proven functional mushrooms such as lion's mane, reishi, shiitake, maitake, royal sun, turkey tail, and others. These blended formulations deliver enhanced health and wellness benefits over single-ingredient products, and have a higher market value because of increased user benefits and development challenges.

The Wake, Elevate, and Think products also include mushrooms with nootropic properties. Nootropics are supplements that improve cognitive function, such as attention, memory, creativity, or motivation.

About the Demand and Market Opportunity

The Doseology line is positioned as a high-quality supplement for the growing number of consumers who are concerned about maintaining mental and physical health, or seeking to elevate their cognitive function through biohacking.

Consumer interest in medicinal mushrooms for health benefits is rising, with the global market valued at US$3.56 billion in 2020 and predicted to grow with a CAGR of 7.23% to 2027 (HNY Research). Canadian interest in mushroom products is growing steadily, with a 250 percent increase in search interest for lion's mane mushroom over the past five years (Google Trends).

The larger nootropics market continues to see strong growth, and is estimated to reach US$6.69 billion by the year 2028, at a CAGR of 12.7% (Marketysers Global Consulting).

About Purchasing and Partnering

Learn more about the benefits of Doseology's medicinal mushroom products at doseology.com. Distributor inquiries are welcomed at hello@doseology.com.

On Behalf of the Board of Directors

Maryam Marissen
Chief Executive Officer
Doseology Sciences Inc.
maryam@doseology.com

About Doseology Sciences Inc.

Doseology Sciences Inc. (CSE: MOOD) is a British Columbia-based diversified life sciences company, on a mission to reimagine mental health therapies through innovation, technology and sustainability. With a focus on psychedelic and non-psychedelic compounds, Doseology will offer cutting edge therapeutic products and services, with the aim of making a meaningful impact on the mental health pandemic and improving overall health.

Forward Looking Statements

This corporate update contains statements which constitute "forward–looking information" within the meaning of applicable securities laws. Forward–looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward–looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward–looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, 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 in the forward–looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward–looking information 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. The Company does not intend, and does not assume any obligation, to update this forward–looking information except as otherwise required by applicable law.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company's securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

Industry Data

This press release includes market, industry and economic data which was obtained from various publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release, or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying economic and other assumptions relied upon by such sources. The Company believes that its market, industry and economic data is accurate and that its estimates and assumptions are reasonable, but there can be no assurance as to the accuracy or completeness thereof. The accuracy and completeness of the market, industry and economic data used throughout this press release are not guaranteed and the Company does not make any representation as to the accuracy or completeness of such information.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION IN THE UNITED STATES./

SOURCE Doseology Sciences Inc.

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