The psilocybin mushroom story isn’t likely peak any time soon.
Over the last few months, Denver, Oakland, and Santa Cruz just decriminalized the possession of products containing psilocybin or psilocin. Washington, D.C. could be next. Major institutions are even studying its use for the treatment of depression, addiction, and psychological disorders.
For example, Johns Hopkins recently launched the Center for Psychedelic and Consciousness Research, for example. The U.S. FDA granted “breakthrough status” to COMPASS Pathways’ psilocybin-assisted therapy just last year, which allows the FDA assist in the development of a promising drug to treat serious illnesses.
A Johns Hopkins’ study also found that 80% of smokers quit after “one dose of psilocybin and research on 51 cancer patients showed the drug decreased anxiety and depression in 80% of those tested,” as reported by The Baltimore Sun. Reportedly, Johns Hopkins is also recruiting for studies that use psilocybin for those with early stage Alzheimer’s, anorexia-nervosa, and major depression issues.
As excitement builds for the use of psilocybin mushrooms , it’s opening a range of opportunity for companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Cresco Labs Inc. (CSE:CL)(OTCQX:CRLBF), cbdMD Inc. (NYSE:YCBD), iAnthus Capital Holdings Inc. (CSE:IAN)(OTC:ITHUF), and GW Pharmaceuticals (NASDAQ:GWPH).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. subsidiary Flourish Mushroom Labs Inc. announces that it signed a non-binding letter of intent with Kingdom Brands Management Inc. on February 12, 2020. Per the LOI, Kingdom will pay $500,000 to Flourish in exchange for the rights to use and sub-license in the United States, The Yield Growth Corp.’s proprietary extraction technology for use exclusively with both medicinal and psychedelic mushrooms.
Published: February 13, 2020
Founder & Interim Editor of L.A. Cannabis News