MUSH PROVIDES UPDATE ON CANNABIS BRANDS SALES AND USA MUSHROOM DISTRIBUTION

MONTREAL, March 16, 2022 /CNW/ – The Good Shroom Co Inc. (the “Company” or “MUSH“) (TSXV: MUSH), provides an update on sales and distribution.

MUSH, through its licensed subsidiary Teonan Biomedical Inc. (the “Subsidiary”), operates 2 cannabis brands; Nordique Royale™ and Velada™representing functional cannabis beverages and popular hash extracts. December 24, 2021 marked the launch of Nordique Royale’s Afghan Gold hashish in Quebec. According to https://quebec.weedcrawler.ca/best_sellers, three weeks later the product was ranked #4 in sales in its category out of approximately 35 hash products. During that same period hash sales for the Company were just over $250K and are expected to continue for the immediate term.

The first week of February 2022 marked the launch of the first two Velada™ cannabis beverages in Ontario. According to the Ontario Cannabis Store, for its first week of sales Velada™ products ranked #1 and #2 in its category, representing $27,480 in sales.

For both Nordique Royale™ and Velada™ sales quickly surpassed expectations and inventory was depleted much quicker than anticipated which led to a temporary drop in sales. At present, all cannabis products have been restocked or are in process of being completed in line with revised projections to ensure MUSH minimizes any disruptions in inventory going forward.

MUSH also expects to launch 2 Velada cannabis beverages in every single Quebec cannabis store the week of February 21, 2022. At present in Quebec Velada cannabis beverages are only sold online. According to the government of Quebec online sales account for approximately 10% of total sales in the province. Despite only being sold online, according to quebec.weedcrawler.ca, 3 Velada beverages are in the top selling products in its category even when ranked against products sold in stores.

MUSH, through the Subsidiary, also operates Teonan™ functional mushroom beverages. These beverages have been accepted by two of the largest consumer packaged goods distributors in the United States, KEHE Food Distributors Inc. (“Kehe”) and United Natural Foods Inc. (“UNFI”). As a result, Teonan™ is now distributed out of several locations and available to all retailers in the US. Though just initiated recently, the Subsidiary has already received 4 purchase orders which include two large accounts and a variety of small accounts. MUSH sales force led by FDM Sales management has now begun fulfilling orders and submitting products for review with its large retail accounts.

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MUSH will be releasing its second fiscal quarter ended January 31, 2022 in early April 2022.

www.thegoodshroom.co
www.teonan.com
www.nordiqueroyale.ca
www.velada.ca

About the Company
MUSH operates a portfolio of brands which include traditional cannabis and beverage products. It exists to promote the use of functional ingredients such as probiotics and functional mushrooms in consumer…