Newport Beach, CALIFORNIA, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Galexxy Holdings Inc., (“Galexxy,” “GXXY”) (OTC: GXXY) is pleased to announce that its 100% owned subsidiary, Wellbeing Farms LLC, (“WellBeing,” “WBF”) is expanding its marketing reach to the European and UK markets.
Wellbeing Farms has received a nomination for a Leading Manufacturer Award at the White Label World Expo Series in Germany to be held in October; and this week the Company is presenting its superfood Functional Mushroom - CBD products at the world's largest event for online sellers at the White Label World Expo in New York. The Company believes that initial interest is very strong. Wellbeing is also competing for Innovative Product of the Year award at the White Label World Expo in London, UK in late February 2023.
Michael Biagi, WBF’s CEO stated that “By opening our extensive range of specially formulated Functional Mushroom - CBD health supplements for white labelling to international markets, the Company is very pleased with the response thus far and is expecting significant new export opportunities.”
The Global functional mushroom market size was valued at USD 24.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2028. This can be credited to the rising adoption of these mushrooms as superfoods, owing to their potential of various health benefits. Functional mushrooms have a possibility for a variety of applications in pharmaceutical and healthcare products. Owing to this, we believe, their demand will be on the rise in the coming years. Also, increasing product application in the medicinal industry as a health supplement is further driving the market growth. Ref: *Grand View Research
Michael Biagi further stated that; “We believe we’re at the forefront of Functional Mushroom - CBD formulated products. We’re excited to combine these uniquely differentiated products to our exciting marketing plan in order to meet growing consumer demand for easier and more convenient access to specialty health supplements”.
Headquartered in Newport Beach, California with manufacturing facilities in Murietta, California, Galexxy’s shares are publicly traded on the OTC Markets (OTC: GXXY). Galexxy entered the rapidly developing markets for premium natural plant-based consumer health supplement products in April 2021 and completed its acquisition of Wellbeing Farms LLC., on August 4, 2022 and purchased 69% of ABC Wholesale Products LLC., on August 12, 2022. *https://www.grandviewresearch.com/industry-analysis/functional-mushroom-market-report.
Galexxy Holdings Inc.
Iain Saul
E: Iain@galexxy.com
M: (801) 243 9570
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.
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