Hollister Biosciences Subsidiary To Launch Mushroom-Based Product Line

Cannabis company Hollister Biosciences Inc. HOLL HSTRF said it plans to introduce medicinal mushroom-based products.

The first line of products will include blended and bottled powder and capsule containing powdered cordyceps, lion's mane, oyster, shiitake, and reishi medicinal mushroom varietals.

AlphaMind Brands Inc., a Hollister subsidiary that produces and develops mushroom-based health products, expects to initiate the production by mid-June following.

Approval of ingredients is pending.

The company anticipated the product line would be on the market by mid-July 2020. 

Kirkman, AlphaMind's manufacturing partner, already obtained raw material for the product line.

"Our AlphaMind five mushroom blend will be a game-changer for both athletes and non-athletes alike," said AlphaMind's CSO Dr. Nikos Apostolopoulos in a statement.

"This ethically sourced and organically grown blend provides potent antioxidants, and anti-inflammatory responses, helping to improve and maximize performance as well as daily activities."

Hollister distributes its brand portfolio of cannabis and hemp products in over 220 dispensaries within California.

In February, the company partnered with Tommy Chong, an actor, comedian, and cannabis icon, to manufacture and sell Tommy Chong's Cannabis Full Spectrum Elixir 1:1.

Shortly after, Hollister announced the launching of HashBone MiniBones.

Meanwhile, the company acquired Venom Extracts, Arizona's cannabis extract brand, for CA$20 million.

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisNewscannabis industrycannabis salesMagic MushroomsPsychedelics
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Top Cannabis Event In New Jersey

Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off!