mushroom Archives - Green Market Report

StaffJune 3, 2021
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Silo Wellness Inc. (CSE: SILO) has signed a letter of intent with Canadian-based mushroom company Mushe Inc. to create the first legal functional and psychedelic mushroom retail outlet based in Jamaica. Silo Wellness currently cultivates psilocybin mushrooms, conducts psychedelic wellness retreats, and is testing a proof-of-concept patent-pending nasal spray.

“As a company, we are very bullish about the high-potential functional mushroom category and the psychedelics sector as a whole. We continue to invest in and expand our operations in Jamaica, the only country where the cultivation, extraction, and sale of psilocybin mushrooms is permissible,” said Douglas K. Gordon, Chief Executive Officer of Silo Wellness. “Consumers are increasingly interested in incorporating mushrooms into their wellness routines. Through our propagation operations, psychedelic wellness retreats, and upcoming retail location, it’s our aim to make mushroom-based products, experiences, and education accessible at a time when so many people are struggling with mental health and other issues.”

According to the company statement, Silo Wellness and Mushe Inc. will build out and operate a “smart shop” retail establishment specializing in the sale of functional and psychoactive mushroom products such as tinctures, capsules, topicals, and edibles, as well as boutique literature and accessories. Earlier this year, Silo Wellness announced a multi-year license agreement with the family of legendary musician Bob Marley for the exclusive worldwide rights to brand, market, and sell a distinct product line of functional and psychedelic mushrooms, which will be sold at the store upon launch.

“In Silo Wellness, we’ve found a partner aligned with our mission to educate consumers about the healing powers of psychedelics and make mushroom-based wellness products and experiences more available,” added Jonathan Rakic, COO of Mushe Inc.  “We look forward to introducing Jamaican residents and tourists to the wide-ranging health and wellness benefits of functional and psychedelic mushrooms – one smart shop at a time.”

While most people associate Jamaica with cannabis and Rastafarians, the country is also considered the epicenter of the psychedelic mushroom movement in the Western Hemisphere, where “magic mushrooms” are openly and legally grown and sold, positioning the island nation to directly benefit from wellness tourism as well as sales of psychedelic mushrooms. The global functional mushroom market size was valued at $46.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2028, reports Grand View Research.

 

 


StaffMarch 4, 2021
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Psychedelic media company Delic Holdings Inc. (OTCQB: DELCF) has acquired mushroom kit maker and media company Homestead brands in an all-stock deal. DELIC issued subordinate voting shares worth $50,000 and 50,000 incentive stock options were also granted to Homestead founder David Tatelman, with an exercise price of $0.58. David Tatelman will act as a consultant to the company.

Homestead is a legacy counterculture distributor of psychedelic media and creator of one of the first self-contained mushroom grow kits.

Matt Stang, Founder, and CEO of DELIC said, “The acquisition of Homestead is an exciting one for us at DELIC. It shows how we are increasing accessibility to this nascent industry within regulated jurisdictions. Homestead not only sold tens of thousands of mushroom kits globally but also was one of the earliest distributors for High Times and many other counter-culture publications. We look forward to growing together and increasing shareholder value with what we accomplish.”

DELIC said the Homestead acquisition would allow the company to increase its product offering on its website Reality Sandwich (realitysandwich.com). Through Homestead’s extensive intellectual property and heritage brand, Delic anticipates reviving the at-home EZ Grow experience targeted at the Reality Sandwich consumer. Including the EZ Grow product suite, DELIC said it intends to increase e-commerce sales and activity by offering other high-demand products to our online viewers and consumers.

The company said that a product launch is expected this March, and the new mushroom kit will have a modern interpretation of the company’s history and will include everything a consumer needs to be an at-home mycologist – pre-sterilized and as easy as mixing the core ingredients provided. In addition to the mushroom kit, consumers will also be able to purchase other complementary products to the kit to enhance their experiences and to become better mycologists. Delic aims to be a leader in the at-home cultivation movement.

Recently, DELIC announced the execution of a definitive share purchase agreement to acquire Complex Biotech Discovery Ventures and a binding letter agreement to acquire Ketamine Infusion Clinics. The addition of Homestead further showcases to our stakeholders the unique ability DELIC has to be able to acquire strong brick and mortar and online businesses in the psychedelic sector as well as bring continued value to the company’s investors.

 


StaffApril 22, 2020
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The Campaign to Decriminalize Nature DC (DNDC) released the results of a new poll on April 21 that showed support for mushroom decriminalization in Washington DC. The “Initiative 81, the “Entheogenic Plant and Fungus Policy Act of 2020,” has enough support to pass in the District of Columbia according to a survey completed by Fairbank, Maslin, Maullin, Metz & Associates (FM3).

The poll sponsored by the New Approach PAC demonstrated that a majority of DC voters support Initiative 81, a measure that would make enforcement of existing restrictions on plant medicines or entheogens among the Metropolitan Police Department’s lowest law enforcement priorities. Of those polled, 51% support the initiative based on the text of the measure alone. When presented with a plain-language explanation, that support grows to 60% and continues to increase and solidify as voters learn more.

Here’s the initial language that didn’t have as positive of a response:

ENTHEOGENIC PLANT AND FUNGUS POLICY ACT OF 2020. If enacted, this Initiative would: Make the investigation and arrest of adults for non-commercial planting, cultivating, purchasing, transporting, distributing, possessing, and/or engaging in practices with entheogenic plants and fungi among the Metropolitan Police Department’s lowest law enforcement priorities; and codify that the people of the District of Columbia call upon the Attorney General for the District of Columbia and the United States Attorney for the District of Columbia to cease prosecution of residents of the District of Columbia for these activities

Here’s the easier to understand language:

It would change current law having to do with plant medicines known as entheogens, which include substances
like psilocybin, the active ingredient in “magic mushrooms”; cacti which contain mescaline, iboga, which contains
ibogaine and ayahuasca, which contains DMT. The measure would make investigation and arrest of adults for
non-commercial growing, gathering, and gifting of these plant medicines among the lowest law enforcement
priorities for the District of Columbia. The measure instructs the DC Attorney General to not prosecute people
arrested for entheogens. The measure does not legalize these substances, allow their retail sales, or permit
marketing of any products containing these substances

One issue that was identified was the lack of knowledge about the products. The survey determined that fewer than one-quarter have a close tie to someone who has used psilocybin; very few have personally used ayahuasca, mescaline or iboga, or know someone who has. Having said that, many DC voters have a connection to
someone who has experienced the type of mental health issues the substances can treat.

Among the more than 800 likely DC voters reached by phone as part of this poll, prioritizing law enforcement’s role in reducing violent crime and protecting personal freedom were consistently cited as top reasons for supporting Initiative 81.

These results come as the DNDC faces unprecedented challenges due to the COVID-19 coronavirus pandemic. Necessary social-distancing measures, including DC Mayor Murial Bowser’s stay-at-home order, have made traditional in-person petitioning and signature collection impossible. To preserve ballot access during this public health emergency, DNDC has requested that the DC Board of Elections and DC Council find alternatives to the in-person petition process. Time is running out for DNDC to qualify for the November ballot with 30,000 signatures needed by Monday, July 6th.

“This poll demonstrates the broad support for Initiative 81 in the District of Columbia and reaffirms the importance of putting the “Entheogenic Plant and Fungus Policy Act of 2020,” on the November ballot,” said Melissa Lavasani, the proposer of Initiative 81. “Despite the current public health crisis, DC voters have made clear that they are ready to change how DC approaches entheogens. Now our campaign must make sure that voters have the opportunity to do so.”


Anne-Marie FischerOctober 15, 2019
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When David Nikzad first moved to Hawaii in the early 2000s as a proud and confident member of the cannabis industry, he met a shaman who changed his trajectory forever. “Go back to the land,” said the shaman, “We are all children of the land.”

And that is exactly what David Nikzad did.

Using the land of the Hawaiian Islands as his plant-medicine laboratory, Nikzad went on a journey of discovery by spending time with plant-healers, shamans, plant growers, and people in Hawaii who had been using the medicines of the earth through hundreds of years of tradition. “On the Hawaiian Islands, people make ‘brews’ from the almost 2000 botanicals that can be found in the region,” he describes. 

During this journey of discovery, Nikzad found psilocybin, beginning on the path that would eventually lead to him becoming founder of Orthogonal Thinker, a biotech holdings company that now has a goal to bring psilocybin to the world, one microdose at a time.

The Growing Interests in Psilocybin 

Psilocybin can be found in over 100 mushroom species, but is most commonly found in Psilocybe cubensis, or what has become widely known as “magic mushrooms”. When psilocybin is ingested, it’s broken down to produce psilocin, which is responsible for the psychoactive effects. Psilocin is also the precursor molecule of psilocybin. 

The psychedelics movement is moving forward, albeit slowly, with emergent research supporting the therapeutic properties of psilocybin and psilocin, especially among treatment-resistant depression and other mental health issues. 

At present, it is illegal to sell products with psilocybin or psilocin, but just this past year, Denver, Colorado, and Oakland, California decriminalized the possession of products containing these compounds. “I believe that people will have access to these medicines by 2020,” says Nikzad, “There are emergent initiatives going on behind the scenes. This is a global movement.”

The Story Behind Orthogonal Thinker

“I grew up being told I had every mental disorder possible,” said Nikzad when Green Market Report asked him to describe his journey into Orthogonal Thinker. “About 11 years ago, I found myself somewhat depressed with the business world and I began understanding that everything about making money was wrong. Through that process, we started working on a personal fund that was focused on investing in a frequency of energy, which always came down to the founder.”

When he made the move to Hawaii and began meeting with shamans and what he calls “master formulators” of plant medicines, this is when he discovered psilocybin. With his personal investment fund that he’d developed with his business partner, he focused on “incubating plant-medicine companies that used whole-plant products to heal people”. 

“In our 10-year journey, we’ve discerned and identified a ‘nano-super compound’, psilocybin. This is something that can be taken in a microdose, and through Orthological Thinker, we created a product where the effects are not overwhelming, and that is clean. It’s a product that everyone can take.”

Taking a Giant Leap Forward 

Orthogonal Thinker announced last month that it raised $2.5 million in capital. This funding completes approximately $4 million in seed capital raised to date, with more funding coming in.

Orthogonal will use this financing to support the distribution and development of new products across its family of companies, including subsidiaries EI.ventures and Maui Raw. EI.ventures is a formulations company that holds the intellectual property rights for plant-based psychoactive compounds. Maui Raw is a clean-food CPG company committed to delivering non-GMO raw food products. Over the last 10 years, Orthogonal has acquired and developed products supporting new food, technology, and scientific advancements in plant medicine to elevate and empower humanity. 

The choice of partnerships demonstrates that Nikzad is just as empowered by non-psychoactive plant-based compounds for their nutritional properties, as he is the psychoactive ones for their effects. “Nutritional alkaloids need to effortlessly get into our daily diet,” he says. Orthogonal Thinker’s co-founder Michelle Valentin is a food scientist with a background in clean-label foods, taking the approach of food being medicine. 

“Our products are 99% clean label,” says Nikzad, “We look at everything as a delivery system.” Valentin believes that gut health is at the core of food science, with the gut bacteria rebooting in our systems every 9 hours. The products, which are delivered in water-soluble pouches, have been formulated with gut bacteria to promote this process. 

Brining ohana to the Vision 

Orthogonal Thinker’s goal is to make plant-based products that “aid in mental thought and intellectual expansion” accessible to everyone, with a business model that supports providing a three-milligram microdose of the product Psilly for $1. This model is based on the Hawaiian word ohana which to Nikzad means family and friends and never leaving anyone behind. 

“We know this product is very inexpensive to make the way we make it,” says Nikzad, “We understand that with clinical trials and production at a medical-grade, we would still make money, and people would have access.” 

This selfless quality is what makes Orthogonal Thinker stand out. The company is dedicated to open-source IP sharing to ensure that the benefits of psilocin are widespread. “We are in the process of patenting everything we are working on to distribute everything we have to the world,” says Nikzad, “We partner with the best of the best to share IP and information.” Nikzad notes that he has received vast interest from other countries in his work. 

The team that Nikzad has built is critical not only to the financing of the project but also to advancing the movement of psychedelics across the U.S. and the world. “There is an overflow of people who want to work with us. It’s been very humbling,” says Nikzad of the group of investors that includes cryptocurrency investors, venture capitalists, pro athletes, and even one Olympic athlete.  “All our investors have a story too,” he adds.

“Our team is made up of people who have been in the FDA space for 30 years, doctors, chemists, lawyers, and people who once had ‘human jobs’ and are now living their dharma, their purpose in life,” Nikzad adds that it’s important to him that everyone who invests in or works for Orthogonal Thinker has a relationship with plant-medicine and their products. 

“A New Standard of Pharma”

When Green Market Report asked Nikzad whether the cannabis movement has set the stage for the success of the psychedelics movement, he said, “In some regards, cannabis has been a gateway, but has taught us what not to do, and where to shift. We focus on compliance and medical efficacy.”

Nikzad describes what Orthogonal Thinker is doing as the “new standard of pharma”, seeing a future where physicians will be confident in prescribing products like Psilly to their patients. “These are beautiful medicines that are plant-based,” he says, “These are not synthetic products or ‘designer drugs’ this is all about plant medicine nutraceuticals where you’re getting the benefits of whole plant alkaloids.” 

A daily microdoser himself, Nikzad believes wholeheartedly in the benefits of psilocin for health and wellbeing, “This product is in my bloodstream and it makes me operate from a place of empathy, with an open heart and mind.”: a lot more of what the world could use these days. 

 


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