Champignon Brands (CSE: SHRM), a wellness company specializing in medicinal mushroom and mushroom-infused products, today announced its intent to commence a normal course issuer bid (“NCIB”) to purchase up to a total of 2,411,883 common shares, representing 5% percent of the issued and outstanding common shares of the company as of March 20, 2020. Per the news release, Champignon believes that current market conditions have resulted in its shares being undervalued relative to the immediate and long-term value of its vertically integrated portfolio of alternative medicine products. Pursuant to the NCIB, the company may purchase the common shares through the facilities of the Canadian Securities Exchange (“CSE”) and/or alternative trading systems, at various times over the next 12 months if considered advisable. Purchases may commence through the CSE and/or alternative trading systems on March 27, 2020 and will conclude on either the date on which purchases under the bid have been completed or on March 27, 2021, whichever comes first. All common shares purchased by the company will be cancelled. The company appointed PI Financial Corp. to coordinate and facilitate its NCIB purchases.

To view the full press release, visit http://cnw.fm/2prTX

About Champignon Brands Inc.

Champignon Brands Inc. (CSE: SHRM) is a Canada-based company dedicated to the distribution of artisanal medicinal mushrooms infused products. The Champignon team is mandated with enhancing the health and wellness of millions of potential consumers through the distribution of a premium, mushroom-infused product suite. Champignon continues to be inspired by sustainability, as all of its eligible SKUs are organic, non-GMO and vegan certified. For more information, visit the company’s website at www.Champignonbrands.com.

NOTE TO INVESTORS: The latest news and updates relating to SHRM are available in the company’s newsroom at http://cnw.fm/SHRM

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

Please see full terms of use and disclaimers on the CanadianCannabisWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

It’s official, the novel Coronavirus is now a pandemic. The virus first appeared in Wuhan, China at the close of 2019, and as of now, over 180,000 people have been infected. As the virus swept through China, to Europe, the U.S. and finally Africa, one thing has been pretty clear. Things will get worse before they get better, and recognizing that fact, the World Health Organization (WHO) raised the virus’s threat level.

The loss of life has been immense, with the virus leaving over 4,000 people dead. The fact that it is extremely communicable hasn’t helped, and numerous governments have had to order lockdowns to curb its spread. This, however, has wreaked havoc on the world economy, and experts say the situation will only get worse. The cannabis industry hasn’t been spared either. For starters, it has been subject to the following;

Supply Chain Disruptions. China was hit hard by the virus, and numerous regions effectively went into shutdown mode. And since China is a low-cost producer, the effects have been felt across a lot of industries. The vaping segment, for instance, relies heavily on China for parts, and a lot of firms have found themselves running out of supplies with no avenues for replenishment.

A large portion of growing equipment such as heating, ventilation, air conditioning products, and LED bulbs also come from China.

Canceled trade shows. For an industry as young as the cannabis sector, trade shows are one of the few places firms can show off their products and network. However, these shows are often attended by thousands of people, and while that’s awesome when you’re looking for buyers or investors, it is a liability in the times.  For instance, the CannaTech Medical Cannabis Innovation Conference was postponed until June 15-16, while the Natural Products Expo West was postponed indefinitely.

Reduced Tourism. One of the first responses to the Coronavirus was limiting flights to affected countries. However, as the virus spread, more and more countries started closing their borders. This, coupled with the lockdown and self-isolation orders, has severely impacted the tourism sector. Cities like Las Vegas rely heavily on tourism, and cannabis stores like Planet 13 Holdings are sure to see reduced sales in the coming weeks.

Major lockdowns and quarantines may be down the road if the virus keeps spreading. Countries like Italy are a good example of how things might turn out, and this won’t be good for most businesses. And if more people and infected and forced to self-quarantine, it could lead to a shutdown of most retail shops except the most essential ones.

At the moment, the best we can do is hunker down, take the proper precautions and wait the pandemic out. Industry actors like Champignon Brands Inc. (CSE: SHRM) may be hoping that the pandemic quickly comes to an end given that the marijuana industry already had its own growing pains.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW420? Ask our Editor

CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CNW420 is part of the InvestorBrandNetwork.