Canadian CBD Co. Buys Colo. Mushrooms Biz

Law360 (April 30, 2020, 8:06 PM EDT) -- Canadian CBD company NewLeaf Brands Inc. said Thursday it's buying a Colorado business that cultivates and develops mushroom and fungus-based products with potential medicinal and nutritional properties.

Vancouver-based NewLeaf Brands, which sells CBD-infused water, vaping cartridges and tea, said it signed a definitive agreement Wednesday for Mydecine Group, which cultivates and researches compounds including the psychedelic compound psilocybin that's found in various species of mushrooms and fungi.

"We can't be more excited to close this deal with Mydecine," NewLeaf CEO Josh Bartch said in a statement. "The medical and industrial uses of mushrooms are becoming more popular every day, and we...

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