Yield Growth Announces Name Change and Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2020) - The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (the "Company") announces that it will be changing its corporate name to Better Plant Sciences Inc. to reflect its strategic focus on the fast-growing market for plant-based consumer products. The Company's new stock symbol on the CSE will be "PLNT", and the name change will be effective on Tuesday, August 18, 2020.
Yield Growth Announces Name Change and Provides Corporate Update
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Since inception, all of the Company's consumer product activities have been in the development and commercialization of all-natural, plant-based formulas. This began with the 2017 acquisition of a large plant-based formula library that includes skin care, personal care products, therapeutic products, beverages, edibles, topical wellness products, cleaning products, and a hand sanitizer - all developed under the guidelines of traditional Ayurvedic principles. The Company has also launched cannabis products through its Wright & Well brand in Oregon and has been working to develop the Jack & Jane line of cannabis products for Canada as well as medicinal mushroom products via its subsidiary, NeonMind Biosciences Inc. Continuing this momentum, the Company is committed to expanding its plant-based product portfolio across existing and new product categories and will continue to commercialize its extensive plant-based library of products.
"Herbal formulations based on traditional systems like Ayurveda have seen rapid growth in the past few years. We are committed to using the highest-quality, natural, plant-based ingredients in all of our products," said CEO Penny White. "The name Better Plant Sciences is highly aligned with our mission, and positions us to capitalize on the growth in consumer demand for plant-based alternatives across all categories. We want to make it easy for consumers to make better choices for their health by making better products and holding ourselves to the highest standard to be a better company."
The Company has put significant resources into fostering the growth of its direct-to-consumer business to drive sales, including the recent transfer of its Urban Juve e-commerce site onto Shopify as well as ensuring that products are also available on Amazon.ca. Creating product listings for U.S.-based consumers on Amazon.com is the next step in the Company's direct-to-consumer sales focus.
"We have made the decision to focus solely on driving sales within Canada and the U.S. for the foreseeable future, as the COVID-19 pandemic has made those distribution channels a more reliable option. COVID-19 has also changed the outlook for retail channels worldwide and our strategy reflects this," added White.
The Company has also been highly focused on developing the scalability of its operations while ensuring they remain true to its natural wellness and sustainability values. The company has stability tested more than 50 product formulations to ensure a 2-year shelf life for its products using plant-based preservatives. Cost-effective and environmentally friendly packaging solutions have also been sourced by the company.
"We strive to ensure our corporate practices are good to our people, customers, shareholders, employees, and our planet. Plant-based products made with high-quality natural and sustainable components, formulated to help our customers achieve optimal wellness is a crucial aspect of our business," said White. "For our shareholders, we have ensured that we remain dedicated to staying on top of emerging trends and societal changes in order to stay relevant and set up our products for success. For employees, we offer a flexible, creative workplace, enabling remote work options that enable a healthy work-life balance."
The new name and new symbol are intended to capture everything the Company has been developing thus far and what it plans to achieve moving forward: to make plant-based products and support wellness for a better life.
About The Yield Growth Corp.
The Yield Growth Corp. (CSE: BOSS), (OTCQB: BOSQF) is a phytoceutical and consumer packaged goods company that develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through e-commerce or brick and mortar retail stores. It has 14 patent applications filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. Its majority owned subsidiary NeonMind Biosciences Inc. is launching a line of medicinal mushroom products and is developing intellectual property in the emerging area of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents 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 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, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company's 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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