The new subsidiary is called Flourish Mushroom Labs, and it’s Yield Growth’s second prong in the race for fungi supremacy in the burgeoning psychedelic space.
Yield Growth’s moves are largely preparatory at this stage as psilocybin is still currently illegal in Canada.
The natural, active ingredients in magic mushrooms are chemicals called psilocybin and psilocin. Both of these substances are controlled under Schedule III of the Controlled Drugs and Substances Act (CDSA), meaning activities such as sale, possession, production, etc. of these substances are prohibited unless authorized for clinical trial or research purposes under Part J of the Food and Drug Regulations.
Municipal governments in Denver, Colorado and Oakland have decriminalized magic mushrooms, and the City of Vancouver recently announced they would not be pursuing charges against individuals found in possession of psilocybin.
But the legality of psilocybin worldwide is complex and still unfolding: In Brazil, psilocybin and psilocin are classified as illegal mind-altering substances, but the mushrooms themselves are not.
Spain has also criminalized the sale of magic mushrooms, though possession and cultivation is legal while consumption is decriminalized.
Flourish Mushroom’s cookbook
The product formulations Yield has purchased have come from a motley crew of creators, a group made up of a chemical engineer, a holistic health coach and food chemist, and a chef.
Flourish’s soon-to-be-acquired recipes were made to highlight their mushroom ingredients, whether they be Lion’s Mane, Turkey Tail, Reishi, Shitake, Chagas, Cordyceps and others.
- Chai latte green tea flavor mushroom tea;
- Lemon grass, lemon and hibiscus lemon mushroom tea,
- Veggie mix for mushroom soup;
- Miso dehydrated seaweed mix for mushroom soup;
- Hot cocoa, coconut sugar and vanilla flavoured mushroom elixir;
- Pumpkin spice mushroom elixir;
- White chocolate truffle relaxing formula;
- Dark chocolate truffle energy formula; and
- Wild mushroom bliss ball with coco and dried fruits
Yield Growth seems to be laying the groundwork for the eventual sale of psilocybin-infused products, creating brands and recipes with non-psychedelic mushrooms like Lion’s Mane while regulation reconfigures itself towards the growing psychedelic space.
Jamaica, for example, allows for the open distribution of psilocybin and Yield is angling to sell into these markets.
“These healthy edible mushroom formulations have the potential to be made with psilocybin mushrooms in jurisdictions where magic mushrooms are legal,” says Yield Growth CEO Penny Green. “We are pleased to add mushroom formulas to our extensive catalogue of cannabis formulas which are at various stages of commercialization.”
Psilocybin, along with a number of other psychedelic compounds, has been show to be effective in treating long-term mental illnesses like depression in clinical trials.
The global antidepressant market will be worth nearly $16 billion by 2023, according to Allied Market Research projections.
Full disclosure: Yield Growth is an equity.guru marketing client.