VERNON, BC, Jan. 6, 2022 /CNW/ - Doseology Sciences Inc. (CSE: MOOD) ("Doseology" or the "Company"), a British Columbia-based diversified life sciences company developing mushroom-based health and wellness solutions, announces the successful soft launch of seven new adaptogenic mushroom products in the United States, and the upcoming launch of the product line in the Canadian market during the first quarter of 2022.

Doseology's new medicinal mushroom products have successfully completed test marketing with overwhelmingly positive ratings and reviews. Being among the most comprehensive available on the market, they will help fill the growing demand for high-quality adaptogenic nutraceuticals. The new line employs adaptogenic blends to improve on the single-extract tinctures commonly available. Blends have a higher market value because of increased user benefits and development challenges.

The proprietary formulations make extensive use of natural mushroom fruiting bodies, pairing adaptogenic botanicals with vitamins for increased efficacy.  Significant research has shown positive effects of adaptogens with respect to stress reduction, resistance to mental fatigue, and improved attention capacity. The Doseology line combines adaptogens such as ginger, turmeric, yerba mate, and several mushroom species, with proven functional mushrooms such as lion's mane, reishi, shiitake, maitake, royal sun, turkey tail, and others. These blended formulations deliver enhanced health and wellness benefits over single-ingredient products.

The new product line addresses the functional mushroom market, projected to grow to US$572 billion globally by 2028 with a CAGR of 6.1 percent (Data Bridge Market Research). Products in the new Doseology line address different segments of the market, including mood and depression, attention and focus, sleep and recovery, and anxiety.

In preparation for the Canadian launch, Doseology has received six Natural Product Number (NPN) licenses from Health Canada. The Company is currently exploring Canadian distribution channels, which is planned to include Amazon.ca. With US$7.14 billion in net sales (Statista, 2020), Amazon.ca is by a wide margin Canada's largest online retailer. The Company's direct marketing focus will enable it to quickly reach consumers who can benefit most, provide an engaging customer experience, and establish long-term relationships to maximize revenue.

Daniel Vice, Doseology CEO and Director, comments, "After many months of product development, testing, and regulatory approval, we are pleased to finally launch our products in the U.S. market, and soon in Canada. By incorporating the nutrient-dense fruiting bodies of functional mushrooms and natural health-promoting adaptogens, our products were designed to optimize the user experience which reflects our commitment to deliver high-quality, natural solutions to improve physical & mental health."

A core element of the Company's mission is developing and providing psychedelic treatments for restoring mental health. Once the regulatory framework has been established, Doseology's product line will form the foundation for psilocybin-based therapeutics, creating an entirely new market and fulfilling the Company's vision of better mental health and wellness for millions globally.

Doseology has completed its application with Health Canada to become a "Licensed Dealer" under the Controlled Drugs and Substances Act (Canada), which would permit the production of psychedelic compounds including psilocybin and psilocin, and mark a significant milestone in achieving the Company's vision.

These announced developments will give consumers better access to the healing power of medicinal mushrooms, and bring Doseology closer to delivering innovative wellness solutions and mental health therapies.

Learn more about Doseology's medicinal mushroom product line at doseology.com.

On Behalf of the Board of Directors

Daniel Vice
Chief Executive Officer and Director
Doseology Sciences Inc.

About Doseology Sciences Inc.

Doseology Sciences Inc. (CSE: MOOD) is a British Columbia-based diversified life sciences company, on a mission to reimagine mental health therapies through innovation, technology and sustainability. With a focus on psychedelic and non-psychedelic compounds, Doseology will offer cutting-edge therapeutic products and services, with the aim of making a meaningful impact on the mental health pandemic and improving overall health.

Forward Looking Statements

This corporate update contains statements which constitute "forward–looking information" within the meaning of applicable securities laws. Forward–looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward–looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward–looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward–looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward–looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward–looking information except as otherwise required by applicable law.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company's securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

The CSE does not accept responsibility for the adequacy or accuracy of this release. 

SOURCE Doseology Sciences Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2022/06/c5443.html