Galexxy’s Wellbeing Farms Develops International Export Business; Nominated for Leading Manufacturer Award

Rhea-AI Summary

Galexxy Holdings (GXXY) announced that its subsidiary, Wellbeing Farms, is expanding its marketing efforts into Europe and the UK. The company has been nominated for a Leading Manufacturer Award at the White Label World Expo in Germany and is showcasing its superfood mushroom-CBD products at the same event in New York. Additionally, Wellbeing is competing for the Innovative Product of the Year award in London in February 2023. The global functional mushroom market is projected to grow at a 9.5% CAGR, driven by increasing demand for health supplements.

Positive

• Expansion into European and UK markets opens new revenue streams.
• Nominated for Leading Manufacturer Award and Innovative Product of the Year, indicating strong market presence.
• Global functional mushroom market projected to grow at 9.5% CAGR, suggesting a favorable environment for GXXY's products.

Negative

• None.

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.

https://www.linkedin.com/posts/whitelabelworldexpo_whitelabeleu-whitelabelworld-activity-6980175507346595840-YmBE

www.wellbeingfarms.com                                      
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http://www.evendco.com/
https://www.tcnvend.com/company-overview-12.html

FAQ

What recent developments has Galexxy Holdings (GXXY) announced regarding market expansion?

Galexxy Holdings announced that its subsidiary, Wellbeing Farms, is expanding its marketing reach to European and UK markets.

What awards is Wellbeing Farms competing for at the White Label World Expo?

Wellbeing Farms is nominated for a Leading Manufacturer Award in Germany and is competing for the Innovative Product of the Year award in London.

What is the projected growth rate of the global functional mushroom market?

The global functional mushroom market is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2028.

Where is Galexxy Holdings (GXXY) headquartered?

Galexxy Holdings is headquartered in Newport Beach, California.

What products is Wellbeing Farms promoting at the White Label World Expo?

Wellbeing Farms is presenting its superfood Functional Mushroom - CBD products.