NeonMind Announces Vitasave Will Carry NeonMind Functional Mushroom
Products
Vancouver,
B.C. - June 9, 2021 -- InvestorsHub NewsWire -- NeonMind
Biosciences Inc. (CSE:
NEON) (OTC:NMDBF) (FRA:
6UF)
("NeonMind"),
is pleased to announce that Vitasave has agreed to carry all four
of NeonMind's functional mushroom infused coffees through
Vitasave's eCommerce platform.
Vitasave is a Canadian owned
and operated natural health company headquartered in British
Columbia,
with warehouses in Vancouver and Toronto. With two retail locations
and growing, Vitasave carries a broad product mix with over 7,500
natural health products across more than 250 brands, including
vitamins, supplements, food, pet care and lifestyle
products.
Vitasave has completed over two million shipments through its
eCommerce platform since it was founded eight years ago.
This week, NeonMind shipped
out deliveries of all four of its functional mushroom infused
coffees to two Vitasave warehouses in Ontario and British Columbia,
Canada. The products include two traditional roasted coffee blends
made with Peruvian dark roast and Peruvian medium french vanilla
roast, and two instant coffee blends made with 100% Columbian
Arabica dark roast. They are expected to be available for
purchase through the Vitasave online network within
the next few
weeks. To support the eCommerce launch,
the NeonMind coffees will be included in Vitasave's e-flyer in
June.
"Expanding customer reach is
an important component of NeonMind's strategic growth
plan and Vitasave will be a strong partner with its robust online
presence", said NeonMind CEO Rob Tessarolo. "More than ever,
consumers are concerned about their health and wellbeing and the
demand for high quality functional food products continues to
grow. The NeonMind coffee product line delivers excellent taste
along with the functional mushrooms that can be incorporated into a
daily ritual."
Functional mushrooms are
mushroom varieties that are known to have a health benefit
beyond providing
nutrition. Functional mushrooms found in NeonMind Coffees, such as
cordyceps, lion's mane, reishi, and turkey tail; offer long-term
physical, neurological and immunological benefits.
In a report by Mordor
Intelligence, the global functional mushroom market was valued
at nearly $25.5 billion USD in 2020, and it is estimated to
register a compound annual growth rate of 8.4% during the forecast
period 2021-2026.
About NeonMind Biosciences Inc.
NeonMind is engaged in
preclinical research to develop potential clinical
treatments and wellness products to address obesity and weight
management conditions and to promote health and wellness. The
Company operates three divisions: (i) a pharmaceutical division
engaged in drug development of psychedelic compounds with two lead
psilocybin-based drug candidates targeting obesity; (ii) a medical
services division focused on launching specialty mental health
clinics that integrate psychedelic therapeutics into traditional
psychotherapy settings; and (iii) a consumer products division
that currently sells mushroom-infused products to promote health
and wellness.
In its pharmaceutical
division, NeonMind has two distinct psilocybin drug development
programs targeting obesity. In its pharmaceutical division,
NeonMind
has two distinct psilocybin drug development programs targeting
obesity. NeonMind's first drug candidate employs psilocybin as an
agonist to the serotonin receptor 5- HT2A, which is involved in the
hallucinogenic effect of psychedelics. The
Company's
second drug candidate employs low-dose psilocybin as an agonist to
the 5-HT2C receptor, which controls appetite.
NeonMind established a
medical services division with the goal of launching
NeonMind-branded specialty mental health clinics in Canada that
incorporate evidence-backed
innovative treatments to address a variety of mental health
needs.
NeonMind's consumer division
currently sells NeonMind branded coffee products in Canada through
NeonMind's direct to consumer e-commerce platform, and it has
plans to
launch dietary supplements in the United States in the near
future.
For more information on
NeonMind, go to www.NeonMindBiosciences.com.
Rob
Tessarolo, President & Chief Executive Officer, NeonMind
Biosciences Inc.
rob@neonmind.com
Tel: 416-750-3101
Investor
Relations:
Edge
Communications
invest@neonmind.com
Tel:
1-866-318-6874
KCSA
Strategic Communications
Scott
Eckstein/Tim Regan
neonmind@kcsa.com
Tel: 212-896-1210
Media
Inquiries:
KCSA Strategic Communications
Annie
Graf
neonmind@kcsa.com
Tel: 786-390-2644
The
Canadian Securities Exchange has not reviewed, approved nor
disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or NeonMind's future performance. The use of any of the
words "could", "expect", "believe", "will",
"projected","estimated"
and similar expressions and statements relating to matters that are
not historical facts are intended to identify forward-looking
information and are based on NeonMind's current belief or
assumptions as to the outcome and timing of such future events.
Actual
future results may differ materially.
In particular, NeonMind's
drug development plans, its ability to retain key personnel, and
its expectation as to the development of its intellectual property
and other steps in its preclinical and clinical drug
development
constitute forward-looking information. Actual results and
developments may differ materially from those contemplated by
forward-looking information. Readers are cautioned not to place
undue reliance on forward-looking information. The statements
made
in this press release are made as of the date hereof. NeonMind
disclaims any intention or obligation to publicly update or revise
any forward-looking information, whether
as a result of
new information, future events or otherwise, except as may be
expressly
required by applicable securities laws.