Roadman Investments (LITT) (RMANF) Investee Champignon Brands to Develop Mushroom-infused Cold Brew Coffee in Collaboration With Drip Coffee Social Ltd.
VANCOUVER, British Columbia, Sept. 23, 2019 (GLOBE NEWSWIRE) — Roadman Investments Corp. (LITT.V)(FWB:1QD)(OTC:RMANF) (“Roadman Investments” or the “Company”) is pleased to announce the Company’s investee Champignon Brands Inc. (“Champignon”) has entered into a Product Formulation and R&D Agreement (the “Agreement”) with Nanaimo, B.C. based Drip Coffee Social Ltd. (“Drip Coffee”).
Under the terms of the agreement, Champignon and Drip Coffee will collaborate to formulate a suite of RTD cold brew coffees, as well as barista crafted hot beverage infused with Champignon’s heirloom mushroom-extract blend. Champignon will retain all intellectual property rights associated with the formulations produced under the agreement indefinitely.
All formulations produced under the collaboration are expected to be third party tested and boast the following certifications:
Canadian organic standards;
Certified vegan; and,
Fair trade certification (“ISO 17065”).
Champignon plans to market and sell its mushroom-infused cold brew coffee blends through it’s e-commerce store, direct to consumer, as well as on the shelves of Drip Coffee’s flagship brick and mortar location based in Nanaimo, B.C. Champignon brands plans to encompass a variety of product lines that combine the world’s most powerful superfoods and health supplements. Adding this mushroom infused coffee to the existing Champignon product line will help the company compete more broadly in the industry and expand this previously untapped market niche.
Globally, the market for functional mushrooms was valued at $5.8 billion in 2018, according to Avinash Desamangalam, the lead researcher for the food and agriculture department at market intelligence firm Mordor Intelligence, and it is expected to grow 6.4 percent annually from 2019 through 2024, with China expected to be the largest producer and consumer.*
Luke Montaine, Chief Executive Officer and a Director of Roadman Investments stated: “We are proud to applaud Champignon’s entrance into the realm of mushroom-infused coffee. Venture Capital backed Four Sigmatic has demonstrated that mushroom enhanced coffee can vastly improve health and wellness and the massive consumer appetitive for this type of product.” .”
About Champignon Brands Inc.
Champignon Brands is a research driven company specializing in mushroom health supplements that promote holistic health and wellness.
About Roadman Investments
Roadman Investments is a Canadian Venture Capital and Advisory Firm that strives to actively drive innovation and accelerate growth within its portfolio holdings in order to realize alpha returns for its shareholders. Roadman invests capital into companies that offer breakthrough products, devices, treatments and health supplements.
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Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.
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