Yield Growth Sends First Shipment of Products to Europe and Adds Bulgaria, Romania and Serbia to Exclusive Distribution Territory
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce that pursuant to its previously announced distribution agreement with Melorganics it has shipped nearly 2,500 Urban Juve products to Greece this week, marking its first export of products to Europe. Further, Yield Growth subsidiary Urban Juve has agreed to expand the exclusive distribution territory granted to Melorganics to include Bulgaria, Romania and Serbia, in addition to Greece and Cyprus.
Yield Growth expands distribution of Urban Juve to Bulgaria, Romania and Serbia.
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"We are impressed with the speed with which Melorganics was able to get all our products approved for sale in Greece," says Yield Growth CEO Penny White. "We are excited to begin selling our Urban Juve products in pharmacies throughout Greece, Cyprus, Bulgaria, Romania and Serbia as we work with Melorganics to introduce hemp products in these countries."
Yield Growth subsidiary Urban Juve has received compliance certificates registering 11 of its products with the European Union.
On November 10, 2019, Yield Growth subsidiary Urban Juve Provisions entered into a definitive agreement with 699598 Ontario Corp. O/A Melorganics Hellas "Melorganics" for exclusive distribution of the Urban Juve brand of hemp-powered skin care products in Bulgaria, Romania and Serbia for a 3-year term provided certain minimum annual sales are met. Pursuant to the agreement, Melorganics has agreed to place its first purchase order for these territories by December 31, 2019.
As proposed legislation across the European Union continues to bring cannabis closer to the mainstream, high-end cannabis products are gaining popularity. With a total population over 508 million, the EU represents massive market potential for Urban Juve products.
Jefferies estimates that the CBD beauty industry will reach US $25 billion within 10 years and that it could account for 10 - 15% of global skin care sales. Jefferies suggests, "The Global Beauty & Personal Care market neared $465 billion in 2017 and is ripe for disruption from Cannabis-based products."
Melorganics plans to enter the European Market with a full line of CBD products and is establishing relationships with pharmacies throughout Greece, Cyprus, Bulgaria, Romania and Hungary for distribution of hemp products. The company is in the process of securing exclusive rights and strategic alliances with leading companies both in Greece and Canada that are focused on the development of unique health products and nutraceuticals with cannabis and botanical oils.
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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