EuroLife Enters into Definitive Agreement to Distribute Flourish Mushroom Labs' Coffee Mixes in Germany, Switzerland, and the United Kingdom
Toronto, Ontario--(Newsfile Corp. - November 12, 2019) - EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) ("EuroLife" or the "Company"), a leading global markets cannabis brand empowering the medical, adult-use and CPG cannabis industry, is pleased to announce it has entered into a definitive agreement with the Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (FSE:YG3) for the exclusive distribution of Yield Growth's line of mushroom infused coffee mixes being developed through its subsidiary Flourish Mushroom Labs Inc.
The distribution agreement grants EuroLife Brands exclusive distribution rights in Germany, Switzerland, and the United Kingdom for the mushroom coffee line being developed by 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 nonexclusive 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.
"As we move to integrate high quality products onto our global e-commerce platform, we welcome our new partner Yield Growth, who has demonstrated expertise in the launch of internationally acclaimed products," 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, health conscious, and demand high quality products that are on the leading edge of their respective industry segments."
"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.
On October 21, 2019, Fortune Business Insights announced, "Why the Functional Mushrooms Market is set to explode," predicting the global functional mushrooms market will gain momentum from growing awareness of the health benefits of mushrooms.
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."
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.
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.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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