Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FWB: 496), today issued a corporate update. Among other items highlighted in the update, the Company continues to work with the British Columbia Securities Commission (the “Commission”) to complete its continuous disclosure review. Champignon Brands will continue to fully cooperate with the Commission to assist in completion of the review in a timely fashion. In addition, the Company’s board of directors, in June 2020, considered options for realizing additional value for the consumer-packaged goods (“CPG”) pillar of its business and contemplated a reorganization that would result in the spinout of this business into a new reporting issuer. At this stage, the board of directors has determined that this is not a suitable transaction to undertake and will not be proceeding with the contemplated reorganization and spinout.
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About Champignon Brands Inc.
Champignon Brands is focused on the formulation and manufacturing of novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutraceutical and psychedelic medicine while being supported by a leading psychedelics medicines clinic platform. The Company is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (“PTSD”), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting preclinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the Company’s website at www.ChampignonBrands.com.
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