Toronto, Ontario--(Newsfile Corp. - September 23, 2021) - PharmaDrug Inc. (CSE: PHRX) (OTC Pink: LMLLF) ("PharmaDrug" or the "Company") a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, is pleased to announce that its Super Smart division is launching its own premium blend of functional mushrooms. MycoWe℞ Infinite will initially debut for sale in the United States before also being made available through Super Smart's ecommerce platform in Europe. The first commercial lot of product has already been manufactured and the Company expects to start shipping orders mid-October.
MycoWe℞ Infinite will be positioned as a premium brand in a rapidly growing marketplace that is primarily occupied by high price, low potency functional mushroom products. Based on evolving consumer trends in the health supplements space, the Company understands that health-conscious individuals are often reluctant to take large numbers of pills, several times per day as part of their health regimen. For this reason, the Company's initial product release has been formulated as a once a day complete 6 functional mushroom dose in one pill that does not compromise on the quantity of active ingredients. To accomplish this, high potency concentrates, prepared only from the mushroom fruit body are processed using an optimized hot water and/or hot water/alcohol extraction. Our approach compares favorably to many competing products that contain only mushroom mycelium (roots of the mushroom) which are often contaminated with the grain materials that are artificially grown on. The MycoWe℞ line only uses mushroom fruit bodies cultivated from a mushroom's natural substrate to ensure maximum potency in every capsule.
The focus of the brand will be on product transparency and rigorously vetted research. Each MycoWe℞ package will contain a QR code that will link consumers to the corresponding Certificate of Analysis for their particular product lot as well as peer reviewed scientific literature that supports the product's unique formulation. Information on the product can been seen by scrolling down on the homepage of the revamped U.S. site www.slimwinkel.com.
"We are extremely excited to be launching our new line of functional mushrooms," Said Dr. Paul Van Slyke, Chief Scientific Officer of PharmaDrug. "I have personally been a mushroom forager and user for over 20 years. My desire has always been to seek products that are closest to what I can forage for myself in nature. Our ingredients and quantities will always be clearly defined on the label so that consumers can make the best, informed decisions about their health and wellness journey."
Super Smart Update
Super Smart hired a Director of E-commerce in June and began working on an overhaul of the U.S. website in July while refining the Slim Winkel brand and message. In the meantime, the company has been building traffic, developing its social media network, and increasing its followers. The cornerstone of the revamped strategy will focus on the Slim MycoWe℞ brand but will also be augmented with researched and curated bundles from several suppliers to meet the suggested requirements of specific users. The Company has also been engaging influencers and micro influencers to champion both the Slim MycoWe℞ brand and the Slim Winkel website.
PharmaDrug's executive team flew to The Netherlands to visit the current store in Tiel as well as several locations in both Amsterdam and Rotterdam in August. Management was able to visit over 30 stores, including several stores currently for sale. The conclusion was that the retail market is still under tremendous pressure. The cost of purchasing existing stores is prohibitive and the building of greenfield locations in a competitive environment is not economically viable, especially since the market is relatively small and not currently exhibiting any signs of significant growth.
Super Smart will continue with the European online effort and will undertake to overhaul the site and develop a strategy to reflect the distinct market within North America by adapting an e-commerce only model. In formulating this decision, management met with director of e-commerce candidates with direct European branding expertise. Future focus will be on a launch of a Slim psilocybin product for The Netherlands complemented by a functional mushroom offering in all of Europe including the Slim functional products once they are established in the United States.
About PharmaDrug Inc.
PharmaDrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs. The Company owns 100% of Pharmadrug Production GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license and German EuGMP certification allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, a Dutch company building a modern adult use psychedelic retail business with an elevated and educational focus. PharmaDrug recently acquired Sairiyo Therapeutics, a biotech company that specializes in researching and reformulating established natural medicines with a goal of bringing them through regulatory and research driven clinical trials.
For further information, please contact:
Daniel Cohen, Chairman and CEO
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.