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Colorado-based Panacea Life Sciences Holdings (OTCQB:PLSH) is expanding its natural Health and Wellness (H&W) division through a spectrum of products based on kratom and kava as well as the potential acquisition of plant-based non-alcoholic health and energy drinks and vaping products.
The company will still offer its existing product lines containing CBD/CBG and vegan soft gel caps under its own brand and as a contract third-party manufacturer. It has plans to support new and existing clinical research on functional and psychedelic mushrooms for inflammation, aging, and mental health conditions.
Panacea is a holding company structured to develop and facilitate manufacturing, research, product development and distribution in the high-growth, natural human and animal H&W market segment.
Its subsidiary Panacea Life Sciences Inc. is a woman-founded and led company dedicated to manufacturing, distribution, research and production of nutraceutical, cannabinoid, mushroom, kratom and other plant-based ingredients and products.
The Healing Company (OTCQB:HLCO) has uplisted from the OTC Pink Market to the OTCQB Venture Market and will continue trading under the symbol “HLCO.”
The company has also secured up to $7 million in a new investment from strategic partners including Indian CPG market majority shareholder the Burman family and Stephan and Ingvild Goetz’ Munich family office. Together with prior financing, this brings total raised and committed equity funding to up to $17 million, alongside the $150 million credit facility supporting future acquisitions.
The Healing Company’s investors and advisors include Dr. Deepak Chopra, psychedelics entrepreneur Christian Angermayer and Social Chain and Steven Bartlett, Thirdweb founder.
The new investment is intended to support the company’s strategy of building a community of healing brands through the acquisition of companies in the wellness, supplement and nutraceutical spaces.
Trading on the OTCQB venture market is expected to provide current and future investors with greater access to data, home country disclosure, ease of trading and transparency as well as allow the company “to reach a broader investor base,” says co-founder and CEO Simon Belsham.
Further, the new funding and successful uplisting brings hope to a potential NASDAQ listing within the next 12 months.
Belsham says the announcements are “further validation” of the company’s business model and will support an acceleration of its “accretive” buy-and-build strategy toward achieving its mission of “bringing integrated healing to the world.”
They also come on the heels of “record financial performance” during the fiscal third quarter, which reportedly showed a sequential revenue of $3.2 million or “a 34% increase over the second quarter,” due to the acquisition and integration of complementary businesses.
The company’s first acquisition, Your Super, demonstrated profitable growth this quarter “for the first time in its history,” stated Belsham, also recalling the March acquisition of the Chopra Global wellbeing experiences businesses including the physical product line, the meditation and wellbeing app and licensed experiences, which is already showing “strong performance.”
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Photo: Benzinga edit with photo by PublicDomainPictures and sergeitokmakov on Pixabay.
