Doseology Expands into US Retail Market

VERNON, BC, July 14, 2022 /CNW/ – Doseology Sciences Inc. (CSE: MOOD) (OTCQB: DOSEF) (FSE: VU7) (“Doseology” or the “Company”), a life sciences company focused on mental health and wellness, is excited to announce it has signed a Sales Management Agreement with Alternative Sales Management to act as the Company’s national sales manager for its expansion into the United States retail market.

Gary Gobeli, President of Alternative Sales Management, is a skilled Master Broker and Senior Manager within the natural and organic industry. With over three decades of experience, Gobeli brings a set of skills and experiences that has led to success for both him and his partners — he has been a distributor and manufacturer rep, owned a brokerage company, and has been a regional and national sales manager for top brands such as Atkins and Symbiotics. He is an expert in evaluating market trends, developing and implementing goal-oriented strategies, networking with manufacturers and distributors, and bringing both start-ups and bigger brands to market.

The engagement of Alternative Sales Management comes at an opportune time, as the functional mushroom market continues to grow in the United States in 2022. Notably, Tastewise predicts a continued interest in functional foods with 33% more consumers treating food as medicine in 2022 compared to 2020.

The benefits of functional mushrooms have been the subject of intense study in recent years. For example, a 2021 study by Penn State College of Medicine found that consistently consuming mushrooms resulted in a lower risk of depression. This effect is attributed to certain edible mushrooms, such as lion’s mane, having the potential to enhance neuron production and survival, which can help prevent neuropsychiatric disorders, such as depression. There are thousands of other studies that highlight the benefits of these fungi.

Further projections for the functional mushroom market include an 8.44% compound annual growth rate from a projected surge in demand for functional foods and nutraceuticals from 2021 to 2026. Additionally, the global market is expected to reach $44.8B USD by 2027.

Doseology will capitalize on this increased interest with its expansion into the sizable United States retail market. The Company plans to partner with distributors that specialize in supplements and target independent retailers and specialty chains to build a strong foundation before moving on to mass-market retailers.

The current functional mushroom products in Doseology’s US line are:

• Wake: Blend of lion’s mane mushroom fruiting bodies, yerba mate, and vitamins B6 and B12 to promote wakefulness and to support cognitive performance (tincture, 28 servings).
• Elevate: Blend of lion’s mane mushroom fruiting bodies, ginger root, and vitamin B3 to elevate mood and enhance cognitive clarity (tincture, 28 servings).
• Active: Blend of cordyceps mushroom fruiting bodies and rhodiola to promote energy, enhance physical performance, and ease mental fatigue (tincture, 28 servings).
• Recover: Blend of shiitake fruiting bodies and turmeric to provide the body with potent antioxidants to strengthen and support immunity (tincture, 28 servings).
• Rest: Blend of reishi mushroom fruiting bodies, German chamomile, and melatonin to promote relaxation and sleep onset (tincture, 28 servings).
• Think: Blend of the fruiting bodies of lion’s mane mushroom, reishi, shiitake, and chaga, yerba mate, rhodiola, choline, organic cocoa powder, and monk fruit extract. The super-shroom cognitive complex is formulated to give the brain the building blocks it needs to optimize cognitive function and to improve focus and alertness (cognitive complex powder, 30 servings).
• Defend: Blend of the fruiting bodies of lions’ mane, reishi, shiitake, turkey tail, chaga, maitake, royal sun agaricus, white button, and black fungus as well as the mycelium of cordyceps. These 10-in-1 super shroom capsules are formulated to provide daily immune support (mushroom capsules, 30 servings).

For sales inquiries contact: [email protected]

On Behalf of the Board of Directors

Ralph Olson
Chief Executive Officer
Doseology Sciences Inc.

Doseology Sciences Inc. is building a progressive brand focused on mental health and wellness through cultivation, extraction and innovative nutraceutical and pharmaceutical products. Doseology aims to make a meaningful impact on the mental health pandemic by utilizing and developing functional fungi and plant-derived drugs. With a vertically integrated approach, Doseology intends to process and distribute products at its facilities in Vernon, British Columbia, in accordance with applicable laws to ensure safe and high-quality production. Doseology’s medicinal mushroom products, including tinctures, powders and supplements, are available on doseology.com.

Website: doseology.com

Forward-Looking Statements

This press release contains statements that constitute “forward‐looking information” within the meaning of applicable securities laws. Forward‐looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions. Readers are cautioned that forward‐looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning the business of the Company’s future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Company’s prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law. For more information, investors should review the Company’s filings which are available on SEDAR.

No securities regulatory authority has either approved or disapproved of the contents of this press release. The Company’s securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration, or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

Industry Data

This press release includes market, industry and economic data which was obtained from various publicly available sources and other sources believed by the Company to be true. Although the Company believes it to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release, or analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the underlying economic and other assumptions relied upon by such sources. The Company believes that its market, industry and economic data is accurate and that its estimates and assumptions are reasonable, but there can be no assurance as to the accuracy or completeness thereof. The accuracy and completeness of the market, industry and economic data used throughout this press release are not guaranteed and the Company does not make any representation as to the accuracy or completeness of such information.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Doseology Sciences Inc.

For further information: Investor Relations: [email protected]; General Inquiries: [email protected], Telephone: 236-349-0064

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.