Champignon Brands (CSE: SHRM) has entered into a definitive agreement to acquire that of Artisan Growers Inc, a BC-based craft mushroom cultivator and supplier. The cultivator will be acquired through an all stock transaction, for total consideration of 8 million common shares.
Artisan Growers growers currently operates a craft production facility that grows a number of organic mushroom varieties. A variety of cultivation techniques is utilized to grow organic craft mushrooms, which includes lion’s mane, chaga, reishi and agaricus blazei. Champignon intends to integrate Artisan’s facility into the firms current medicinal mushroom manufacturing, formulation and distribution infrastructure.
A portion of the Artisan facility will be apportioned by Champignon for the purchase of establishing a laboratory. The lab will be utilized for research and development functions as well as fungi profile analysis. A number of objectives for the lab have been set out, including investigating the integration of mushroom extracts as an alternative medical delivery system, formulating bioactive compounds, isolating and synthesizing of plant and fungi extracts, as well as for receiving regulatory approval to cultivate certain fungi varieties which include psilocybin.
With the acquisition of Artisan Growers, we continue to optimize our upstream, downstream and distribution capabilities, all the while securing valuable infrastructure to expedite our R&D pursuits. Over the coming quarters we will tactically execute on our stated business plan and look to also emerge as a best-in-class vertically integrated medicinal mushroom extract formulator, integrating alternative medicine, clinical research and vocational rehabilitation into the Company’s current product portfolio.
Gareth Birdsall, Chief Executive Officer
Champignon Brands last traded at $0.30 on the CSE.
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