The Good Shroom Co.: Update on Sales Activities and AGM

Published: January 25, 2022

The Good Shroom Co.: Update on Sales Activities and AGM

The Good Shroom Co. Inc. provided some recent highlights and reminds shareholders that the annual general meeting of shareholders will be held January 25, 2022, at 10:30 am (EST) and will be accessible via Webcast. Shareholders wishing to attend can register, prior to the meeting, at https://us06web.zoom.us/meeting/register/tJwkd-2tpz0iHdf2NsSfnl84IztaKAPdGUHi. Given the current government guidelines in place, participation will be solely by Webcast.

“During this past year, and following the reverse take over transaction in April 2021, we have been refining our product offering, expanding our sales channels and strengthening our sales force for the Teonan Beverage line. We anticipate seeing positive results this current year. As well, our cannabis division is showing early signs of success as sales of the Company’s new hash brands to the SQDC (Quebec’s authorized retailer), which began December 24, 2021, have already generated $297,000 in sales over a 4-week period. Online reviews have shown our hash product, Nordique Royale’s Afghan Gold, is very well received and we believe that the quality of our products will help us gain a significant market share in the coming year.” Stated Eric Ronsse, the Chief Executive Officer of the Company.

Some key milestones for the Velada and Nordique Royale hash products:

  • In June 2021, the Company obtained the required licenses and authorization to commence the sales of its cannabis products.

  • In October 2021, the Company entered into an agreement with the Ontario Cannabis Store (“OCS”) for the purchase of Velada cannabis teas, with delivery to start in early 2022. Based on present sales of similar products, the OCS has placed a replenishment order to ensure it receives an adequate supply of Velada products.

  • In November 2021 the Company entered into an agreement with the Quebec Government to sell its Nordique Royale and Velada cannabis products. Sales of its hash brand began on December 24Quebec and have already reached $297,000. Weedcrawler.ca which tracks real time cannabis product sales has ranked Nordique Royale’s Afghan Gold hash #9 in all hash sales within only two weeks of launching, and it is now at #6. Reddit online reviews of the product also confirm that customers enjoy Nordique Royale products and are becoming loyal to the brand.

Some key milestones for the Teonan products:

  • The mushroom based functional beverage line under the Teonan brand, is now available in seven flavours. It can still be purchased directly through the Company’s online stores, but in addition, it is now available in the United States (US) following an agreement with an established major distributor, Kehe Distributors LLC (“Kehe”), (www.kehe.com). Kehe operates 16 distribution centers across the United States and fulfils orders from a variety of food-related retailers of all sizes. This will provide the Company with access to a large number of key retail accounts in the United States.

  • In addition, in September 2021 the Company entered into an agreement with FDM Management, LLC (www.fdmsales.com), giving it direct access to FDM Management’s entire sales force, to leverage and activate its existing retail client relationships throughout the United States.

  • During the year, the Company strengthened its sales force with the hiring of a US sales manager, Rob Leichman, who brings over 20 years of direct industry experience and a variety of key retail account relationships and, an Eastern Canada sales manager, Shalom Thompson, who brings over 10 years of Canadian food sales experience and a variety of existing relationships with key retailers in Eastern Canada.

About the Company
The Good Shroom Co. operates a portfolio of brands that include traditional cannabis and beverage products. Its aim is to promote the use of functional ingredients such as probiotics and functional mushrooms in consumer products. Its Teonan line consists of beverages that, first and foremost, are high quality and tasty, but also contain a dose of functional mushrooms and probiotics. We all have a daily routine, be it coffee, tea or something else. Why not make that routine functional, for body and mind, by adding probiotics and mushrooms? Up to now, no company has been able to maintain a familiar taste at a fair price while making these drinks truly functional. The Good Shroom Co. has filled that gap and intends to make its brands household names as part of its customers’ daily routine.

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