EuroLife Brands Inc (CSE:EURO) (OTCMKTS:EURPF) (FSE:3CMA) has told investors it is keen to get into the mushroom superfood sector in Europe in the same way it entered the cannabis and hemp marketplace.
Traditional mushrooms are rich in nutrients such as potassium, calcium, amino acids, fiber, and vitamins B & D, which are known to improve antioxidant activity in the human body.
The firm cited one research report, which suggested that the medicinal mushroom market could reach US$78.8 billion by 2025, growing at a compound annual growth rate (CAGR) of 9.5% during the forecast period between 2018 and 2025.
"Similar to how we approached the cannabis and hemp marketplace from an educational forward perspective, we aim to mirror this strategy in the mushroom superfood segment," Shawn Moniz, the CEO and president of EuroLife said in a statement.
"Our formative years in the cannabis space taught us that the educational component in a burgeoning sector was of utmost importance in assuaging consumer concerns.
"We believe that a similar educational void exists in the mushroom superfood segment and even more so on the medicinal side where utilization of properties such as psilocybin is slowly gaining traction as an investigative means for a variety of mental health-related conditions," he added.
The company said that in conjunction with its network of cooperative partners, referred to as the European Associates Retail Network, it has been exploring additional areas within the Health and Wellness segment that could both supplement and complement its current roll-out plans in the hemp and hemp products space.
Using its Cannvas.me technology platform, EuroLife will aim to get together educational content about the use of mushrooms as superfoods and in various burgeoning applications for medical use.
It is a busy spell for the firm. Last week it announced a C$5M all-paper deal to buy CWE European Holdings Inc, a firm which operates a seed-to-sale hemp CBD business in German-speaking countries in Europe.
CWE, which would become a subsidiary of EuroLife, owns and operates HANF Hemp Stores in Germany and Luxembourg and aims to become one of the largest CBD hemp retail and online retailers in central Europe. HANF offers more than 300 products from the world of hemp.
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