MONTREAL , Sept.
1, 2021 /CNW/ - The Good Shroom Co Inc. (the
"Company" or "TGSC") (TSXV: MUSH), is pleased to
announce that its wholly owned subsidiary and licensed
cannabis processor (operating as Seul CBD) has been approved for
general listing of its Velada brand cannabis products both online
and in store in the province of Ontario. The accepted
cannabis products will be offered starting January 2022.
Velada produces cannabis infused instant coffees and teas
in a variety of different flavors such as café olé, matcha latte,
golden milk latte, and hot chocolate. Each flavor has two
options, one containing CBD only and a second containing CDB and
THC at a 2:1 ratio. In line with the company's core mission
to make beverages functional, all products contain a mix of
flavourless mushroom adaptogens for additional wellness
benefits. The Velada beverages, which are based on the
Teonan formula's and regarded by Teonan customers as exceptionally
great tasting, are all vegan, gluten free, non-GMO and sugar
free.
This is the first step in a nationwide campaign to
distribute Velada branded products across the entire country over
the course of the next twelve months. TGSC, through its
subsidiary, will continue to develop its distribution network as
well as develop other cannabis products for the Canadian
market.
About the Company
TGSC's mission is to build clean label brands that are
synonymous with functionality, flavour and quality, rooted in a
company recognized for having a socially responsible approach.
Through its wholly owned subsidiary, Teonan, it manufactures and
sells functional beverages under its two brands: Teonan and Velada.
In line with growing consumer trends towards functional foods,
Teonan created the instant beverage lines using a custom blend of
organic mushroom extracts chosen for their known health benefits,
all the while keeping the focus on developing delicious flavors.
All of Teonan's instant beverage mixes are certified organic
(Ecocert - USDA), vegan, dairy free, GMO free and gluten
free. Teonan began direct to consumer sales of the Teonan
beverages in North America, in
December 2019, via its online stores
and sales of the Velada beverages to authorized retailers is
expected to commence in the coming months.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking
Information
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. 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: expectations
with respect to the future growth of wellness beverages and edible
cannabis industry; market acceptance of the products, plans for and
timing of expansion of its products; expectations regarding
competition; maintaining in good standing all necessary regulatory
licenses 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 both locally and in foreign
jurisdictions; compliance with extensive government regulation;
operational risks related to and COVID-19 or other pandemic and
supply chain disruptions. 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.