The Good Shroom (TSX-V:MUSH) Co Inc has provided highlights of 2021 while announcing details of the annual general meeting of shareholders which will be held on January 25, 2022.
"During this past year, and following the reverse takeover transaction in April 2021, we have been refining our product offering, expanding our sales channels, and strengthening our sales force for the Teonan Beverage line,” said Eric Ronsse, the chief executive officer of The Good Shroom (TSX-V:MUSH) Co.
He added: “We anticipate seeing positive results this current year. As well, our cannabis division is showing early signs of success as sales of the company's new hash brands to the SQDC (Quebec's authorized retailer), which began December 24, 2021, have already generated $297,000 in sales over a 4-week period.”
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Ronsse noted that online reviews have shown that the company’s hash product, Nordique Royale's Afghan Gold, is very well received. “We believe that the quality of our products will help us gain a significant market share in the coming year."
The company said that the key highlights from 2021 were as follows:
- In June 2021, the company obtained the required licenses and authorization to commence the sales of its cannabis products.
- In October 2021, the company entered into an agreement with the Ontario Cannabis Store (OCS) for the purchase of Velada cannabis teas, with delivery to start in early 2022. Based on present sales of similar products, the OCS has placed a replenishment order to ensure it receives an adequate supply of Velada products.
- In November 2021, the company entered into an agreement with the Quebec Government to sell its Nordique Royale and Velada cannabis products. Sales of its hash brand began on December 24. Quebec and have already reached $297,000.
- The mushroom-based functional beverage line under the Teonan brand, is now available in seven flavors. It can still be purchased directly through the company's online stores, but in addition, it is now available in the United States (US)
- The company entered into an agreement with FDM Management, LLC, giving it direct access to FDM Management's entire sales force, to leverage and activate its existing retail client relationships throughout the United States
The Good Shroom (TSX-V:MUSH) Co operates a portfolio of brands that include traditional cannabis and beverage products. Its aim is to promote the use of functional ingredients such as probiotics and functional mushrooms in consumer products.
Shareholders wishing to attend can register, prior to the meeting, at https://us06web.zoom.us/meeting/register/tJwkd-2tpz0iHdf2NsSfnl84IztaKAPdGUHi
Contact Ritika at ritika@proactiveinvestors.com