M&A Deal Summary

Core One Labs Acquires New Path

On December 23, 2021, Core One Labs acquired consumer products company New Path

Acquisition Highlights
  • This is Core One Labs’ 1st transaction in the Consumer Products sector.
  • This is Core One Labs’ 2nd transaction in Canada.
  • This is Core One Labs’ 2nd transaction in British Columbia.

M&A Deal Summary
Date 2021-12-23
Target New Path
Sector Consumer Products
Buyer(s) Core One Labs
Deal Type Add-on Acquisition

Target

New Path

Vancouver, British Columbia, Canada
New Path is dedicated to the development and licensing of natural health products and dietary supplements incorporating functional mushrooms to help support every day biological functions in the maintenance of good health. The company's vertical integration model will allow it to grow, develop, and distribute its natural health products and dietary supplements from spore to sale. New Path’s equipment and infrastructure along with its proprietary mycelium process allow for the low-cost production of its products. It currently has two retail components, Nue Mindset and Forest Garden Mushrooms, both of which specialize in functional, non-psychedelic, mushroom products. Nue Mindset, which is currently awaiting Health Canada’s Natural Health Product Number approval, produces a Lion’s Mane mushroom powder infused with Vitamin B3, to assist in improving cognitive function. The Lion’s Mane mix has received pre-orders from both local and online retail outlets. Concurrently, Forest Garden produces an immune-boosting capsule line made from Chaga, Cordyceps, Reishi, Maitake, and Lion’s Mane mushrooms. New Path also manufactures simple to use and easy to distribute Lion’s Mane mushroom grow kit. Forest Garden plans to sell its products through Nue Mindset’s already established retail channels. New Path is based in Vancouver, British Columbia.

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Buyer(S) 1

Buyer

Core One Labs

Vancouver, British Columbia, Canada
Category Company
Founded 2010
Sector Consumer Products
Revenue 1M USD (2022)
DESCRIPTION

Core One Labs is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. Core One Labs was founded in 2010 and is based in Vancouver, British Columbia.

DEAL STATS #
Overall 3 of 4
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (British Columbia) 2 of 2
Country (Canada) 2 of 3
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-29 Akome Biotech

United States

Akome Biotech develops psychedelic-based pharmaceuticals to help patients overcome specific illnesses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-11 Awakened

Ontario, Canada

Awakened is a psychedelics research and technology company that has successfully developed novel technologies for the production of synthetic psilocybin, the synthetic production of psilocybin and psilocin analogues, and for the manufacturing of various no-psychoactive psilocybin-based prodrugs.

Buy -
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