Vancouver, BC (GLOBE NEWSWIRE) -- The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (Frankfurt:YG3) is pleased to announced it has completed the acquisition of eight wellness beverage formulas designed to be infused with CBD and THC and one capsule product intended to treat hangovers.
The formulas have been developed to offer various health benefits, including an energy boost, hangover treatment, brain function boost, anxiety reduction, improved immunity, toxin removal and reduced inflammation. The formulations were developed in India and are based on Ayurvedic medicine using botanicals, fruit extracts and spices.
Yield Growth issued 200,000 shares and 200,000 warrants to purchase shares at $0.60 per share for the acquisition, and is obligated to pay net revenues from sales of 2%.
“We are excited to move forward with the development of our CBD and THC infused beverages as these products are expected to be fully legal in Canada within the year,” says Penny Green, Yield Growth President and CEO, “We are now in discussions with several licensed cannabis processors in Canada to manufacture our cannabis products and we are also in talks with hemp farmers and licensed cannabis producers to source CBD and THC for our products.”
Yield Growth is aggressively developing hemp and cannabis products, with over 50 SKU’s expected to hit the market in 2019. In addition to developing cannabis topicals and beverages, Yield Growth recently incorporated UJ Edibles Inc. and is developing an acquisition and licensing strategy to build a line of cannabis edibles for distribution in Canada and the United States.
According to Investopedia, edibles will mark a huge industry in Canada gearing up for launch before October 17, 2019 and edibles alone could become a billion dollar industry in the years to come. According to a February 2, 2019 article, Investopedia says to “expect a THC-infused beverage market to crop up as a subcategory of the larger edibles space. These products could include THC- or cannabidiol (CBD)-infused juices, waters and seltzers or coffees. CBD products may be marketed as "health" drinks aimed at reducing anxiety and inflammation without generating a "high" feeling in the same way that THC does.”
According to Forbes, Mark Hunter, the president and CEO of Molson Coors, believes that the beverage market will account for up to 30% of the edibles market--up to $3 billion per year.
About The Yield Growth Corp.
The Yield Growth Corp. is dedicated to the rapid and sustainable growth of cannabis and wellness assets. Its directors and officers have experience at multi-billion dollar international companies including M.A.C Cosmetics, Aritzia, Skechers, Best Buy, Future Shop, Pepsi and Coca-Cola. Its key assets are 100% owned subsidiaries Urban Juve Provisions Inc., UJ Topicals Inc., UJ Beverages Inc., UJ Edibles Inc. and Thrive Activations Inc. Through its subsidiaries it owns formulas to over 60 wellness products, including wellness formulas and beverages, has registered 29 products with Health Canada, has applied for 11 U.S. provisional patents and has established distribution and sales channels in Canada, the U.S. and Italy. It is currently selling products online and through retailers in Canada.
For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.comand #findyourjuve across social platforms to learn, engage and shop.
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, UJ Topicals, UJ Beverages and UJ Edibles 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.
© 2019 GlobeNewswire, Inc. All Rights Reserved.
SOURCE: The Yield Growth Corp.