Yield Growth Enters into Definitive Agreement to Distribute Flourish Mushroom Labs Coffee Mixes in Germany, the United Kingdom and Switzerland
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2019) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce that on November 8, 2019 it entered into a definitive agreement with Eurolife Brands (CSE: EURO) (FSE: 3CMA) for the exclusive distribution of Yield Growth's line of mushroom infused coffee mixes being developed through subsidiary Flourish Mushroom Labs Inc.
Yield Growth, in partnership with Eurolife Brands, to launch mushroom coffee mixes infused with various wild mushrooms such as Lion’s Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps
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The distribution agreement grants Eurolife Brands exclusive distribution rights in Germany, the United Kingdom and Switzerland for the mushroom coffee line being developed by Yield Growth subsidiary Flourish Mushroom Labs. The initial exclusivity period is one year with options to extend the term provided certain minimum sales are met. The agreement also grants Eurolife Brands non exclusive distribution in other territories for two years, with a provision to exclude one or more territories on two month's notice from Flourish Mushroom Labs. The parties plan to integrate the mushroom coffee mix products into Eurolife Brands' e-commerce platform in Q2 2020, after testing and registrations are complete. The initial line of mushroom coffee mixes will be infused with various wild mushrooms such as Lion's Mane, Turkey Tail, Reishi, Shitake, Chagas and Cordyceps.
"We are excited to partner with Yield Growth, who has demonstrated expertise in the international launch of products with potent ingredients," says Shawn Moniz, CEO of Eurolife. "Our research indicates a huge opportunity to sell the Flourish Mushroom Labs mushroom coffee line to European consumers who are educated and health conscious and demand high quality products that are on the cutting edge of their respective industry segments."
According to psilocybintechnology.com, "Based on newfound benefits of magic mushrooms and the changing cultural (and legal) climate, some early movers have started working on psilocybin containing consumer products, like foods and beverages...On account of their newly appreciated health benefits and safety profile, magic mushrooms could become the next cannabis."
"We look forward to launching our mushroom coffees in Europe in alliance with Eurolife Brands using its proprietary consumer analytics and marketing tools," says Penny White, Yield Growth CEO.
"We hope to expand our mushroom infused coffee mixes to include products with microdoses of psilocybin from magic mushrooms as legalization of psychedelics unfolds."
The global functional food market is forecasted to reach USD $34.3 billion by 2024, growing at a CAGR of 8.04% during the forecast period (2019-2024), according to a report by Research and Markets.
An October 21, 2019, a press release by Fortune Business Insights entitled, "Why the Functional Mushrooms Market is set to explode," predicts that the global functional mushrooms market will gain momentum from growing awareness of the health benefits of mushrooms.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) is a leading global markets cannabis brand empowering the medical, recreational and CPG cannabis industry worldwide through a data-driven CBD marketplace supported by exclusive and unbiased physician-backed cannabis education and detailed consumer analytics. Eurolife Brands is also developing its platform to drive international sales of functional mushroom beverage and food products.
About The Yield Growth Corp.
The Yield Growth Corp. is building and operating hemp, cannabis and edible mushroom assets in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the cannabis wellness brands Urban Juve, Wright & Well and Jack n Jane. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy and Aritzia. Its all natural hemp skincare brand, Urban Juve, has signed distribution agreements in Canada, Colombia, Brazil, Greece and Cypress and through its distributor network has access to over 8,000 retail locations. Urban Juve has been featured in UK Vogue, Vanity Fair UK and Elle Canada. Yield Growth's Wright & Well brands are launching a THC/CBD line of topical products in Oregon and a CBD from hemp topicals line in California this winter. Jack n Jane is launching cannabis products in Canada in 2020. Yield Growth is launching a line of edible mushroom wellness products in 2020.
Through its subsidiaries, Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It had filed 12 patents to protect its extraction method and formulas. Yield Growth is in revenue through multiple streams including licensing, services and product sales.
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, Flourish Mushroom Labs, Jack n Jane and UJ Beverages 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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