MONTREAL, June 8, 2021 /CNW/ - The Good Shroom Co Inc. (the "Company" or "TGSC") (TSXV: MUSH), a Quebec based company that manufactures functional beverages under its two brands: Teonan® and Velada™, has signed an agreement with Mr. Rob Leichman, President of The Lyric Group, LLC, a leading business development consultant with a particular expertise in consumer-packaged goods distribution. TGSC has also initiated a podcast marketing campaign with AdvertiseCast to continue expanding their e-commerce presence throughout North America.
Lyric Group, LLC to Lead US Distribution.
The Lyric Group, LLC launches emerging and established food and beverage brands onto retail shelves throughout the US. Mr. Leichman and TGSC have come to an agreement whereby he will lead TGSC's US distribution starting in key states by utilizing his varied list of established buyer, distributor and merchandizing relationships across multiple channels to launch the Teonan products. The Tri-State area (New York. New Jersey and Connecticut) will be the primary focus and used along with the pacific northwest and northern California. The Lyric Group will manage strategy execution from logistics to product placement on retail shelves alongside the TGSC operations team. TGSC expects to launch its products in the fall of 2021.
E-commerce Expansion: Podcast
Over 100 million Americans have listened to a podcast in the last month and the projected amount of podcast ad spend by the end of the year is over $1 billion. Additionally, a survey of 300,000 listeners found that 63% of people bought something a host had promoted on their show.
In order to continue expanding its e-commerce presence TGSC has initiated Advertise Cast, one of the premier US podcast advertising networks to manage its podcast marketing. Advertise Cast and TGSC have identified strategic podcasters based on the quantity of listeners versus their demographics and will be marketing its products through podcaster reviews and targeted ads in various forms. Through this agreement, the Company will gain exposure to a targeted portion of Advertise Casts's monthly listener reach of over 40,000,000. *
About The Lyric Group, LLC
The Lyric Group provides a range of consultative services for both emerging and established brands in the specialty food space. They work with brands to develop effective go-to- market strategies, assist established brands to navigate retailer and distributor relationships and help multinationals tap into growing domestic consumer trends.
AdvertiseCast, LLC ("AdvertiseCast") combines an industry-leading ad buying and management platform with full-service campaign management to reduce the typical friction involved with podcast advertising. AdvertiseCast's proprietary software platform enables simple podcast advertising campaign creation and management. Leading advertising agencies, brands and content creators use AdvertiseCast to manage successful campaigns to produce results for advertisers.
About the Company
TGSC's mission is to build clean label brands that are synonymous with functionality, flavour and quality, rooted in a company recognized for having a socially responsible approach. Through its wholly owned subsidiary, Teonan, it manufactures and sells functional beverages under its two brands: Teonan and Velada. Inspired by the relationships ancient cultures held with mushrooms and in line with growing consumer trends towards functional foods, Teonan created the instant beverage lines using a custom blend of organic mushroom extracts chosen for their known health benefits, all the while keeping the focus on developing delicious flavors." All of Teonan's instant beverage mixes are certified organic (Ecocert - USDA), vegan, dairy free, GMO free and gluten free. Teonan began direct to consumer sales of the Teonan beverages in North America, in December 2019, via its online stores.
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Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and sales. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect the Corporation's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected are the following: expectations with respect to the future growth of wellness beverages and edible cannabis industry; market acceptance of the products, plans for and timing of expansion of its products; expectations regarding competition; maintaining in good standing all necessary regulatory licenses and authorizations for its products; the benefits, safety, efficacy, dosing and social acceptance of cannabis related products and no material changes in the legal environment; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; operational risks related to and COVID-19 or other pandemic and supply chain disruptions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law. Trading in the securities of the Company should be considered highly speculative.