The Good Shroom Receives Health Canada Approval for A Standard Processing Licence

MONTREAL, Oct. 10, 2023 /CNW/ - The Good Shroom Co Inc. (the "Company" or "The Good Shroom") is pleased to announce that Health Canada has approved the transfer of its micro-processing licence to a standard processing licence on October 5, 2023.

A micro-processing licence is typically issued to smaller companies as the initial and annual licensing fees are lower and the requirements are less stringent.  However, the quantity of cannabis which can be possessed, handled and sold in any given year is limited to a maximum of 600kg of dried cannabis or its equivalent, while there are no restrictions or limits on sales volumes with a standard licence. To date, the Company has been operating under a micro-processing licence which enabled it to create and commercialize a variety of innovative cannabis products and build its brands. Given the popularity of several of its products, the Company has reached the prescribed limit and it expects, with the steadily increasing sales and upcoming product launches, it was necessary to transition to a standard processing licence.

"When the Company originally applied for a micro-processing licence in 2019, it made sense to limit costs and allocate more funds towards product development and establishing a strong presence in the industry. We did, however, design our facilities to be easily adaptable to meet the more stringent requirements of the standard processing licensing so the costs of this transition have been minimal. The Good Shroom can now manufacture, sell and distribute an unlimited amount of cannabis products and we can scale up production when necessary as we expect sales momentum to continue." stated Eric Ronsse, the Company's CEO.

The Good shroom has scheduled the upcoming product launches, to take place in Quebec and Alberta over the next eight weeks. The various product launches in Alberta will occur intermittently and those in Quebec will occur as seen below.

MUSH operates a portfolio of brands which include cannabis and beverage products. It exists to promote the use of functional ingredients such as mushrooms and cannabis in consumer products.

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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 or other purchasers. 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 licences 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, 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.

For further information: The Good Shroom Co Inc., Eric Ronsse, President, support@teonan.com | websites: thegoodshroom.co, www.teonan.com