YIELD GROWTH Signs Letter of Intent with Apothecary Botanicals to Manufacture and Distribute Yield's New Line of Cannabis-Infused Topicals, Jack n Jane, in Canada
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2019) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce that it has signed a non-binding letter of intent to enter into a co-packing agreement with Apothecary Botanicals, a Canadian licensed cannabis producer and subsidiary of Geyser Brands Inc. (TSXV: GYSR), for the production and launch of Yield Growth's Canadian Cannabis brand Jack n Jane, a line of cannabis-infused products including tinctures, topicals and capsules.
Jack n Jane is Yield Growth's New Line of Cannabis-Infused Topicals
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This announcement coincides with Health Canada's official legalization of the production and sale of cannabis extracts and cannabis topicals effective today, marking the one-year anniversary of the legalization of recreational marijuana in Canada.
Yield Growth will engage Apothecary Botanicals to manufacture and distribute its Jack n Jane products in British Columbia, combining Yield Growth's proprietary formulations with Apothecary Botanicals' cannabis supply, services, facilities, equipment and required Health Canada licenses for processing and sales. Yield Growth will supply all non-cannabis ingredients, packaging, and design while Apothecary Botanicals will supply cannabis containing THC and/or CBD as required for the various product formulations. The first phase of production is expected to include three tinctures containing THC and CBD, with a goal of coming to market by December 31, 2019.
Yield Growth intends to incorporate many of the products in its catalogue into the Jack n Jane line, including its own proprietary hemp root oil as a key ingredient and many other high-quality botanicals. The product line currently includes CBD and THC tinctures, muscle and joint gel, massage oils, muscle balm, and foot cream, with several new products in development including transdermal patches and bath soaks.
"Ancient Ayurveda apothecaries worked diligently over millennia to unlock the vast potential of this medicinal plant," says Penny White, CEO of Yield Growth. "We are looking forward to bringing the highest quality skin care and personal care products to Canada with an LP in our beautiful home city of Vancouver."
David Eto, CEO of Apothecary Botanicals, commented, "We are pleased to offer our services to Yield Growth. Our co-packing and manufacturing capabilities combined with our Health Canada approved Licensed Production Facility will support Yield Growth's goal of entering the Canadian market."
According to a report by Deloitte, "edibles, topicals and infused beverages are poised to be the hot new cannabis products." Deloitte estimates that the Canadian market for edibles and alternative cannabis products to be worth C$2.7 billion annually. The report states that 53% of surveyed likely Canadian cannabis consumers are eager to try topicals.
About The Yield Growth Corp.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, "forward looking statements") under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, intellectual property protection, and sale of, and demand for, Urban Juve, Wright & Well, UJ Beverages, Jack n Jane and Flourish Mushroom products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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