TORONTO – Halo Collective Inc. (NEO: HALO) (OTCQX: HCANF formerly AGEEF) (Germany: A9KN) announced the entering into a partnership with Nightingale Remedies and PeakBirch Logic Inc.(CSE:PKB, OTCQX: KTNNF, Germany: KYH2), leveraging the group’s formulation, manufacturing, and e-commerce expertise to develop and launch a line of products combining functional, health and wellness attributes of mushrooms, without psychoactive or psychedelic properties.
Formulations will be spearheaded by Halo’s wholly-owned subsidiary, Halo Peripherals, and Nightingale—a premier consumer-driven, non-psychoactive, cannabinoid product development and manufacturing company. Together with leading e-commerce retailer PeakBirch, the combined efforts are expected to deliver exceptionally high quality, cGMP, functional mushroom products to individuals seeking alternative therapies and increased wellness and quality of life options.
“Two months ago, we announced PeakBirch’s intent on entering other markets and expanding the product segments offered to our customers,” said Marc Mulvaney, Chief Executive Officer of PeakBirch. “We are so excited to enter into the functional mushroom market with our product partner Halo and manufacturing partner Nightingale Remedies. This partnership provides us with the opportunity to develop an online marketplace for premium mushroom products at shroommart.com. We plan to launch on Shroommart in Q1 2021.”
Patrick Brennan, Chief Executive Officer of Nightingale Remedies, shared, “Alongside our new partners, Halo and PeakBirch, we are creating top-of-the-line health and wellness products to serve the functional mushroom market demand that is rapidly growing. To see the extent of our cannabidiol market growth in just one year already excites us. We expect to see significant growth with the addition of our product expansion in the functional mushroom market.”
The partnership group intends to leverage Halo’s top-selling brand Hush to launch the innovative mushroom line known as “Hushrooms™.” The combination of terpenes, non-psychoactive cannabinoids and mushroom extract is anticipated to deliver an uplifting yet non-psychoactive experience for consumers in easily ingested vegan capsules.
Terpenes have been found to generate synergistic and therapeutic benefits such as anti-bacterial, anti-fungal, anti-insomnia, anti-proliferate, and antioxidant properties enhancing the benefits of other compounds such as CBD. Hushrooms™ will be launched in three such varieties: Rise, Mellow, and Tranquil combining mushroom extract, terpenes, and non-psychoactive cannabinoids. The triad of formulations will be available for purchase throughout the United States through shroommart.com.
As the three companies continue to research and development, they also plan to capitalize on Halo’s proprietary nasal inhaler technology, Nasalbinoid – Halo’s innovative line of convenient, all-natural, personal inhalers available in functional botanical cannabinoid formulations specifically designed to deliver uplifting experiences. The group intends to launch personal inhalers with Hushroom™ formulations combining mushroom extract with non-psychoactive cannabinoids and terpenes (CBD, CBG, CBN and terpenes) via the convenient and portable nasal inhaler format.
CEO of Halo Collective, Kiran Sidhu commented, “This isn’t the first time Halo has forayed into functional cannabinoid products. Nasalbinoid marked our initial entry into functional wellness products and we gained insight on how consumer experiences can be enhanced by the combination not just of cannabinoids and terpenes but also botanical extracts. We plan to extrapolate these learnings not only to formulate Hushrooms in a capsule but also in a portable nasal inhaler formulation.”
According to Data Bridge Market Research, the functional mushroom market is expected to make substantial strides between 2021 and 2028. Data Bridge Market Research anticipates the market will grow with a CAGR of 7.22 percent and reach USD $555.94 billion globally by 2028. Analysts have cited the increasing use of the ingredient by the nutraceutical sector to propel this growth.
Functional mushrooms refer to the rare form of mushrooms which grow in dense forests, high on the Himalayan plateau, on fallen logs and even on the heads of caterpillars. These mushrooms possess antioxidants and nutritional value, and certain functional mushrooms can help in strengthening immune systems. These could also be used as dietary support options with low calories, high protein and numerous vitamins and vital minerals. Additionally, the growth in consumer awareness regarding antioxidants, nutritional benefits and changing preferences towards a healthy lifestyle are anticipated to drive growth in the functional mushroom market.
Sidhu continued, “Our industry is only in the preliminary stages of the future of wellness. Functional mushrooms will provide an initial avenue for consumers to experience the therapeutic benefits of mushrooms. While Hushrooms™ are devoid of psychotropic effects, our goal was to create an innovative product line highlighting health and wellness properties for an elevated take on alternative therapies. We’re especially thrilled to be working with experts in their fields to help us with the product launch. The manufacturing facility is FDA, cGMP, and ISO 9001 certified and we anticipate customers rejoicing in Hushrooms™, the next generation of functional mushroom products.“
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