On the shroom front, Champignon Brands Inc (OTCMKTS:SHRMF) just announced that certain shareholders have agreed to a voluntary resale restriction period covering 17,840,000 common shares extending the period of time before the shares become free trading to July 15, 2020. The stock continues to gain trader attention and traction.
According to the release, these shares were previously only subject to a statutory hold period. The Company also announces that it has engaged Gold Standard Media, LLC (“GSM”) to provide marketing and consulting services to raise public awareness of the Company, with a specific emphasis on the Company’s North American clinical expansion. GSM is a limited liability company existing under the laws of the State of Texas with an office at 1102 S. Austin Ave, #110-283, Georgetown, Texas, USA.
Champignon Brands Inc (OTCMKTS:SHRMF) promulgates itself as a company focused on the cultivation, distribution, and proliferation of medicinal mushrooms and their derivatives in North America.
It offers mushroom based tea products under the Vitality Supertea brand name, including Brain Enhance Supertea, a lions mane tropical green ginseng based tea product; Nourish Force Supertea, a reishi ryobus based tea product; Mighty Recharge Supertea, a cordycep and hibiscus blend with berries tea product; and wood tea box sets with 60 Supertea blends.
The company also sells mugs, shirts, and other tea-based accessories, as well as auralite healing stones. It sells its products through vitalitysuperteas.com Website, as well as third party coffee shops. The company was formerly known as Nature Leaf Wellness Corp. and changed its name to Champignon Brands Inc. in June 7, 2019.
Champignon Brands Inc. was founded in 2019 and is headquartered in Vancouver, Canada.
According to company materials, “Champignon Brands (CSE: SHRM) is focused on the formulation and manufacturing of novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutraceutical and psychedelic medicine while being supported by a leading psychedelics medicines clinic platform. The Company is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (PTSD), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting preclinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified.”
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As noted above, SHRMF just announced that certain shareholders have agreed to a voluntary resale restriction period covering 17,840,000 common shares extending the period of time before the shares become free trading to July 15, 2020.
We’ve witnessed just under 110% tacked on to share pricing for the company in the past month. In addition, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 0% over what the stock has registered over the longer term. This should not be overlooked given the stock’s relatively small trading float of fewer than 20M shares.
According to the release, the agreement (the “Digital Marketing Agreement”) with GSM is for an initial term of two years effective May 28, 2020. The Digital Marketing Agreement has an aggregate cost of US$300,000 (the “Consideration”). To the Company’s knowledge, GSM and its principals do not hold any securities of the Company. In addition, the Company has no plans to issue securities to GSM as whole or partial payment of the Consideration.
At this time, carrying a capital value in the market of $108M, SHRMF has virtually no cash on the books, which stands against virtually no total current liabilities. The company is pre-revenue at this point. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $SHRMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $SHRMF, either long or short, and we have not been compensated for this article.