Canadian mushroom products firm signs national distribution deal

25-Apr-2022 - Last updated on 25-Apr-2022 at 16:38 GMT

©Getty Images - Alex Cao

Medicinal mushrooms purveyor Doseology has announced a distribution deal it says will make its products available across Canada.

Doseology offers supplements based on an array of functional mushroom species including reishi and cordyceps that are paired with other ingredients such as rhodiola and turmeric. The company also has a plan to develop products based on psilocybin mushrooms.

Firm develops go to market strategy as it deals with internal turmoil

Doseology is based in Vernon, BC. The company, which is listed on the Toronto and Frankfurt stock exchanges, has signed a deal with Canadian distributor Peak Performance Products. The distributor is said to service more than 3,500 retail locations within the country. The company has also launched its products on well.ca, a Canadian ecommerce retail platform.

Doseology, through its sales partner Connect Brands Management exhibited at the recent Canadian Health Food Association trade show. The show, which took place in Vancouver, BC, concluded yesterday.

Doseology has announced the new deal as the company deals with some internal turmoil. In early March the firm announced that former CEO, Maryam Marissen, was leaving after only five months in the job. Chairman Ralph Olson, who is billed as a capital markets expert, has taken her place on an interim basis. The company’s shares currently trade at 10 cents CAD, down from a 52-week high of 40 cents.

Focus on fungi

Mushroom based products have lately become a hot commodity. Several such launches were featured recently in the NutraIngredients-USA Launch Pad series collated by Senior Correspondent Danielle Masterson.

And, while psilocybin is still a controlled substance in the United States, there has been enough interest in the category for the American Herbal Products Association to have formed a new Psychedelic Plants and Fungi Committee. In a similar fashion AHPA formed a cannabis committee long before the state initiatives on medicinal cannabis got the ball rolling that resulted in teh open market for CBD products today.