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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Better Plant Sciences Inc.    PLNT   CA0877371025

BETTER PLANT SCIENCES INC.

(PLNT)
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NeonMind Ready to Launch Four Mushroom Coffee Blends

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08/20/2020 | 06:05am EDT

Vancouver, British Columbia--(Newsfile Corp. - August 20, 2020) -  Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: BOSQF) (FSE: YG3) ("Better") announces that subsidiary Neonmind Biosciences ("NeonMind") has completed final product development for four unique Ayurveda-inspired and botanical-enhanced mushroom coffee blends which are now moving into the mixing stage with a co-packer.


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NeonMind Ready to Launch Four Mushroom Coffee Blends

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The coffees are fair trade and organic, with Ayurvedic organic botanicals and organic mushroom extracts. Each is formulated with adaptogenic, immune-boosting medicinal mushrooms that are antioxidant and nutrient-rich. The formulas contain special blends of reishi, cordyceps, lion's mane and turkey tail mushrooms, all of which are widely regarded for their health benefits.

"Four unique blends will be available: two instant mushroom coffee blends and two roasted coffee blends. Functional mushrooms are booming in popularity as a supplement to boost immunity and brain function," said Penny White, CEO of Better Plant Sciences.

According to Data Bridge Market Research, the global medicinal mushroom market is expected to reach US$78.7 billion by 2025, from US$38.1 billion in 2017 growing at a CAGR of 9.5% during the forecast period of 2018 to 2025.

"We worked directly with Ayurveda botanical companies in India that are fair trade to source the highest quality ingredients," said Bhavna Solecki, Director of Research and Product Development at Better Plant Sciences. "Fair trade is important to us because we want to support producers in developing countries and contribute to building sustainable communities."

The coffees will contain Ayurvedic botanical ingredients such as holy basil, which naturally decreases anxiety; moringa, which acts as an antiviral and antidepressant; gotu kola, which reduces anxiety and stress while improving circulation, and amla; a potent fighter against bacteria and viruses.

All four blends have been sent to a third-party lab for nutritional facts testing as per Health Canada regulations for functional foods. This will test for things such as: moisture, nutrition labeling, fat and fat composition, protein, carbohydrate, cholesterol, sugar, dietary fiber, iron, calcium, sodium, potassium, ash content, and energy.

NeonMind has completed the box and packaging design for the coffees, and has sourced environmentally friendly packaging for the products. NeonMind has commenced development of a website with full e-commerce capabilities, which it intends to launch in tandem with its expected initial product launch in October 2020. The website will be powered by Shopify, which will allow for an optimized user experience across all devices and encourage sales conversions.

About Better Plant Sciences Inc.

Better Plant Sciences develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through e-commerce or brick and mortar retail stores. It also has signed an agreement to buy JUSU bar and JUSU body products and business and expects to complete the acquisition this fall, adding active websites with over 200 products for sale, and another 100 formulas to its assets. It has 14 patent applications to protect its formulas. Its majority-owned subsidiary NeonMind Biosciences Inc. is engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and is developing a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion's mane and turkey tail mushrooms.

Investor Relations Contact:

Kevan Matheson, Investor Relations

invest@betterplantsciences.com

1-833-514-2677

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, "forward looking statements") under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company's products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62166


© Newsfilecorp 2020
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Financials
Sales 2019 4,02 M 3,04 M 3,04 M
Net income 2019 -16,0 M -12,1 M -12,1 M
Net cash 2019 0,54 M 0,41 M 0,41 M
P/E ratio 2019 -1,43x
Yield 2019 -
Capitalization 12,0 M 9,10 M 9,08 M
EV / Sales 2018 -
EV / Sales 2019 6,43x
Nbr of Employees 19
Free-Float 71,1%
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Mean consensus BUY
Number of Analysts 1
Average target price 0,45 CAD
Last Close Price 0,08 CAD
Spread / Highest target 463%
Spread / Average Target 463%
Spread / Lowest Target 463%
Managers
NameTitle
Penny White President, Chief Executive Officer & Director
Tamara Melck Chief Operating Officer
Yu Cai Huang Chief Financial Officer
Spiros Margaris Independent Director
Cole Drezdoff Director
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