Primo Nutraceuticals Inc., and World Agri Minerals Ltd. Discuss Potential Development of a Proprietary Natural Mineral Blend to Increase Production for Mushroom Growers
VANCOUVER, British Columbia, June 05, 2020 (GLOBE NEWSWIRE) -- PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) ("Primo" or the "Company") is pleased to announce that further to its letter of intent (“LOI”) with World Agri-Minerals Ltd. (“WAM”), announced in the Company’s news release dated June 4, 2020, Primo and WAM have conducted discussions relating to the development and production of a proprietary mineral blend specially designed for employment by psilocybin mushroom growers.
The Company has identified growing global interest in the potential medical applications of psilocybin and other psychedelic mushrooms. With world-wide interest in this burgeoning Agri-landscape, WAM is currently developing a new proprietary mineral blend focused on enhancing the production and quality of mushrooms and in particular psychedelic mushroom production. WAM claims that their current research and testing will result in benefits similar to those attained when using their already successful GENESIS 89 GOLD blend on Hemp and Cannabis production. With the new WAM proprietary mineral natural mushroom blend, a healthy more vibrant and 100% organic product can be grown more economically thereby allowing product cost savings for the consumers in addition to enabling growers to be more efficient and profitable. WAM claims that that GENESIS 89 GOLD can increase Hemp and Cannabis productivity anywhere from 15% to 35%. WAM believes that a new mushroom blend could provide similar if not greater production numbers for psilocybin and other mushroom varieties grown for medical applications.
The Mushroom Market
According to the Psychedelic Science Review, the global market for conventional anti-depressants was valued at $13.7 billion in 2016 and is projected to grow to $15.9 billion by 2023.
Andy Jagpal, President Comments:
“We believe that Primo is especially well positioned to capitalize on the emerging 'shroom boom' Psilobycin and other varieties of mushrooms are quickly becoming a viable option for mental and physical health treatment. The market for investment opportunity is massive for a nutraceutical company like Primo which has demonstrated its ability to receive NPNs (Natural Product Number) from the Health Products and Food Branch of Health Canada for nutraceutical products.”
About World Agri Minerals Ltd. (WAM)
WAM was formed to actively pursue the manufacturing, marketing and sales of its premiere commercial Agri-product GENESIS 89, an organic plant nutrient that has a proven positive effect on agri-production. WAM now plans to use this same unique blending process to change the way the mushroom industry grows and fertilizes their product. With over 80 trace minerals, GENESIS 89 and GENESIS 89 GOLD contains a proprietary blend that boasts the highest concentration of seawater-harvested minerals available on the commercial and retail market.
About Primo Nutraceuticals Inc.
Primo Nutraceuticals Inc. ("Primo" or the "Company") is dedicated to funding the rapid growth in production, processing, retail and branding of cannabis and non-cannabis related products in Canada and the United States. Primo has invested in several brands and is pursuing partnerships with retailers and distribution companies in Canada and the United States. Primo's management is in the process of building a corporate road map to further vertically integrate the Company, specifically by way of “Primo” branded retail outlets - offering "Thrive," "Primo," and a selection of curated partner brands. The Company possesses proprietary formulas for cannabis edibles, topical, and tinctures. Primo is focused on building a strong presence in the hemp industry with the objective of extracting and selling cannabinoid (CBD) products in both Canada and the United States.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
President and Director
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FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No regulatory authority has approved or disapproved the information contained in this news release.