• Yield Growth (BOSS) subsidiary, Flourish Mushroom Labs, has applauded the Santa Cruz City Council’s decision to decriminalize a wide range of psychedelics
  • The resolution will make personal use and possession one of the lowest priorities for police
  • Flourish Mushrooms intends to build a dedicated laboratory in St. Vincent and the Grenadines
  • Yield Growth shares are up 1.75 per cent to C$0.29, with a market cap of C$30 million

Flourish Mushroom Labs has applauded the Santa Cruz City Council in its vote to decriminalize a range of psychedelics.

Flourish Mushroom Labs, which is a majority-owned subsidiary of Yield Growth, aims to legally and safely commercialize psilocybin mushrooms.

The council’s resolution would make the personal use and possession of entheogenic plants and fungi, such as psilocybin mushrooms and ayahuasca, one of the lowest priorities for law enforcement in the city.

“This move is an exciting first step toward the safe and legal commercialization of psilocybin mushrooms,” said Penny White, CEO of Yield Growth.

“With increasing awareness around the therapeutic potential of mushrooms, I expect to see this trend continuing, and we are preparing to meet the potential future demand for these products with Flourish Mushroom Labs.”

In late 2019, the John Hopkins Institute was recipient of a $17 million donation to facilitate the study of psilocybin as a treatment for disorders such as anorexia, opioid addiction, Alzheimer’s, post-traumatic stress disorder and alcohol addiction.

“With more dollars being put behind studying mushrooms for therapeutic use, I expect we will see more action to decriminalize psilocybin. We believe we are at the forefront of a true renaissance in therapeutic, plant-based medicine,” added Penny White.

Flourish Mushroom Labs is planning to build a dedicated laboratory in St. Vincent and the Grenadines.

The company has also filed a US patent application for the use of psilocybin to aid in weight loss, treat obesity and diabetes, and prevent heart disease.

Shares in Yield Growth are up 1.75 per cent to C$0.29, with a market cap of C$30 million.

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