VANCOUVER, British Columbia, Sept. 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- The Yield Growth Corp. (CSE:BOSS) (BOSQF) (YG3.F) announces that it is supporting its thriving licensing and white label business, currently with $3.7 million in signed agreements in the past 14 months, with continued development of its product catalogue. Twenty-six new products are now in stability testing with an additional 13 products on deck to start testing in the coming weeks.
Licensing agreements announced and signed in the past 14 months include $1 million for three year exclusive Italian rights to distribute brands and infuse products with CBD and THC, $1 million for US rights to infuse products with CBD and THC, $800,000 for international rights to products for a hemp infused men's line and $900,000 for European rights to infuse formulas with CBD. All currency references are in Canadian dollars.
"We continue to negotiate more licensing and distribution agreements, and we plan on signing several new deals before year end," says Penny White, Yield Growth CEO. "Our continued development of our catalogue of hemp formulas for CBD and THC infusion supports our international licensing strategy."
Yield Growth continues development of its catalogue with 26 new products in the process of stability testing at a laboratory in British Columbia. These include six essential oil perfumes, four natural remedy blends with essential oils, foot cream and hand cream made with proprietary hemp root oil and exotic botanicals. Yield Growth has also developed eight men's products, including four essential oil colognes, shaving cream, hair balm, beard oil, and eight white label versions of men's products without hemp root oil.
"Stability testing is a crucial part of the production process. It guarantees that the formulation works as intended by providing a two-year shelf life. To ensure their efficacy, we use a minimum amount of clean, plant-based preservatives in all our products," says Bhavna Solecki, Director of Product Development. "In order to create these high-quality, natural products, Yield Growth invests a lot of time in research and development. R&D is a major facet of our operations, as we seek to develop and enhance our existing products, while creating new formulations."
These products capitalize on the growing consumer trend in products with natural, pure ingredients. All of the formulas in Yield Growth's catalogue are cruelty free and made with high-quality essential oils and botanical extracts. All formulas are free from harmful substances, including sulfates, SLS, SLES, parabens, formaldehydes or formaldehyde-releasing agents, phthalates, mineral oil, artificial fragrances, dyes, retinyl palmitate, oxybenzone, coal tar, hydroquinone and triclosan.
Many Yield Growth beauty and wellness formulas contain hemp root oil made with Yield Growth's patent-pending extraction technology, and are designed to be infused with cannabinoids, such as CBD and THC. Research group Jefferies estimates that the CBD Beauty Market will reach US$25 billion in 10 years. According to a study by Arcview Market Research and its research partner BDS Analytics, by 2027 worldwide sales of legal cannabis are forecast to reach $57 billion. The Independent Innovation Awards state that consumer spending for the international beauty market is projected to reach $758 billion in sales by 2024, and Yield Growth's robust catalogue of products represents a potential turnkey opportunity for brands wishing to enter the industry.
About The Yield Growth Corp.
The Yield Growth Corp. harnesses the power of hemp- and cannabis-infused products in the global wellness market, which is worth $4.2 trillion, according to the Global Wellness Institute. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy, Aritzia, Coca-Cola and Pepsi Corporation. Urban Juve has signed a sales and marketing alliance with the beauty subscription service, ipsy, and Urban Juve products will be included in ipsy Glam Bags. Yield's THC line of Wright & Well products are launching in Oregon through an established distributor with a 400 cannabis retail store network.
Yield Growth has acquired or developed over 200 cannabis beauty, wellness, and beverage formulas for commercialization. A key ingredient in many of these products is Urban Juve's hemp root oil, created using Urban Juve's proprietary, patent-pending extraction technology. Yield Growth generates revenues 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, 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4965464-a29f-41a7-b105-aede3599331f