Market Herald logo

Subscribe

Be the first with the news that moves the market
  • The Yield Growth Corp. (BOSS) subsidiary, Flourish Mushroom Labs, has acquired an 18 per cent stake in Translational Life Sciences
  • A biotech start-up, Translational Life Sciences focuses on using psilocybin and cannabis to treat an array of conditions and illnesses
  • As consideration for the deal, Flourish Mushroom Labs issued 15,000,000 shares and 15,000,000 warrants to purchase an additional share at C$0.50
  • The 18% stake in Translational Life Sciences is estimated to be worth $750,000
  • Shares in Yield Growth are currently trading at C$0.28, with a market cap of C$28.45 million

Flourish Mushroom Labs, a subsidiary of Yield Growth (BOSS), has acquired an 18% stake in biotechnology start-up Translational Life Sciences.

Translational Life Sciences is focused on the development of proprietary medicinal formulations to treat an array of conditions and illnesses using psilocybin and cannabis.

With an aim to provide solutions to currently unmet needs, the company also offers services to design and manage clinical trials of restricted substances for third parties.

“As a founder in TLS, we will now work with TLS to increase the value of our investment by helping it build out its management team, raise additional capital and complete its plans to develop intellectual property in plant-based medicine,” said Yield Growth and Flourish Mushroom Labs CEO, Penny White.

“We believe our alliance with TLS will help establish us as a leader in the emerging industry of psychedelic medicine.”

Translational Life Sciences is spearheaded by an expert team of physicians and scientists with histories in neurology, pharmacology, pain management, addiction and biochemistry, as well as significant experience in the clinical application of cannabinoid compounds.

As consideration for the deal, Flourish Mushroom Labs issued 15,000,000 units in the company. Each unit of Flourish comprises of one share and one warrant to acquire an additional share at C$0.50.

Flourish Mushroom Labs’ 18 per cent stake is estimated to be worth roughly C$750,000.

With 130 deaths attributed to opioid overdoses each day in the United States, the potential for psychedelic compounds to treat a host of health complications, including addiction, is becoming a subject of increasing focus.

Shares in Yield Growth are currently trading at C$0.28, with a market cap of C$28.45 million.

More From The Market Herald

" The Market Herald’s Weekly Cannabis Report

Weekly Update – Top Cannabis News Stories

" BioHarvest Sciences welcomes Gavriel Lambert to the Board of Advisors

BioHarvest Sciences (BHSC) has appointed Gavriel Lambert to serve on its Board of Advisors.
Pure Extracts Technologies - CEO, Ben Nikolaevsky.

" Pure Extracts (CSE:PULL) signs supplier agreement with Shoppers Drug Mart

Pure Extracts (PULL) has signed a cannabis supplier agreement with Shoppers Drug Mart.

" Tilray (TSX:TLRY) expands medical cannabis products in the UK

Tilray Brands’ (TLRY) medical cannabis division, Tilray Medical, has expanded its medical cannabis offerings in the United Kingdom.