The Good Shroom Co Inc. (the "Company" or "The Good Shroom") announced that Health Canada has approved the transfer of its micro-processing licence to a standard processing licence on October 5, 2023. A micro-processing licence is typically issued to smaller companies as the initial and annual licensing fees are lower and the requirements are less stringent. However, the quantity of cannabis which can be possessed, handled and sold in any given year is limited to a maximum of 600kg of dried cannabis or its equivalent, while there are no restrictions or limits on sales volumes with a standard licence.

To date, the Company has been operating under a micro-processing licence which enabled it to create and commercialize a variety of innovative cannabis products and build its brands. Given the popularity of several of its products, the Company has reached the prescribed limit and it expects, with the steadily increasing sales and upcoming product launches, it was necessary to transition to a standard processing licence.