Auralite Completes Strategic Investment Into Craft Mushroom Distributor and Formulator, Champignon Brands Inc.; Establishes F...
July 17 2019 - 8:30AM
Auralite Investments Inc. (TSX Venture-AAAA) (the "Company" or
"Auralite"), is pleased to announce its completion of a
C$150,000.00 strategic investment into British Columbia based craft
mushroom distributor and product formulator, Champignon Brands Inc.
(“Champignon”).
Champignon is a private research driven company
specializing in the formulation and end distribution of a suite of
premium artisanal mushroom health supplements, with the objective
of promoting holistic health and wellness. Champignon is equipped
with proprietary formulations for three flagship mushroom
extract-infused tea blends and is in the process of conducting
extensive taste and product quality tests. Further information is
available on Champignon's website which may be accessed through the
following URL:
- https://champignonbrands.com/
In connection with the Company’s strategic
investment into Champignon, Auralite has amended its investment
policy to include the health and wellness sector and has formally
assembled a dedicated health and wellness investment committee to
explore complementary investments within this burgeoning industry.
Auralite is of the belief that the health and wellness sector
provides significant opportunities and the Company looks forward to
evaluating potential investments.
Robert Meister, Chief Executive Officer and a
director of Auralite stated: “The global mushroom market accounted
for US$38.13 billion in 2017 and is forecasted to expand at a CAGR
of 7.9 per cent from 2018 to 20261. This growth will be further
bolstered by the increasing demand for meat substitutes, as well as
shifting consumer preference towards plant-based foods. Leveraging
its newly formed health and wellness committee, Auralite will look
to actively pursue alpha generating investments within this
flourishing sector.”
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https://www.prnewswire.com/news-releases/global-mushroom-market-2018-2026-the-market-is-expected-to-grow-at-a-cagr-of-7-9-300712332.html
Auralite is also pleased to announce the
appointment of Peter Nguyen to its board of directors. Mr. Nguyen
is a Chartered Professional Accountant and an alumnus of the
University of British Columbia. Mr. Nguyen serves as the CFO of two
publicly traded international cannabis corporations and was
instrumental in managing the financial operations and the
vertically integrated business strategies. In addition, Mr. Nguyen
serves as an officer and director of several publicly traded
companies in a variety of industries. Mr. Nguyen has more than 10
years of experience in various financial reporting and business
strategy positions and has held several senior financial positions
for public and private entities where he provide assurance,
corporate financing, tax and business advisory services.
Mr. Nguyen replaces Jason Morton who has
resigned as a director effective July 16, 2019. The Company would
like to thank Mr. Morton for his service and contribution to
date.
ABOUT AURALITE
Auralite is an investment issuer with interests
in Singapore-based EVVO Labs Pte. Ltd., South Korea-based
Fourth-Link Inc., and Canada-based Champignon Brands Inc.
ON BEHALF OF AURALITE INVESTMENTS INC. BOARD OF
DIRECTORS
“Robert Meister”
For more information contact:(604) 351-6647
Or Email:
rob@auraliteinvestments.com http://www.auraliteinvestments.com/
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
This news release contains forward-looking
statements including statements regarding the Company’s plans to
pursue investments in the health and wellness sector, management's
beliefs as to potential opportunities in the health and wellness
sector and the increase in demand for mushrooms as a result of a
shift to plant-based meat substitutes, as well other statements
that are not historical facts. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. By their nature, forward-looking
statements involve numerous assumptions, known and unknown risks
and uncertainties, both general and specific, that contribute to
the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause
actual performance and results in future periods to differ
materially from any estimates or projections of future performance
or results expressed or implied by such forward-looking statements.
These assumptions, risks and uncertainties include, among other
things, the state of the economy in general and capital markets in
particular, investor interest in the business and future prospects
of the Company.
The forward-looking statements contained in this
news release are made as of the date of this news release. Except
as required by law, the Company disclaims any intention and assumes
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable securities law. Additionally, the
Company undertakes no obligation to comment on the expectations of,
or statements made, by third parties in respect of the matters
discussed above.
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