Yield Growth Announces Definitive Agreement for Distribution of Wright & Well CBD Products in Greece & Cyprus
VANCOUVER, British Columbia, Sept. 26, 2019 /PRNewswire/ -- The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce that on September 25, 2019 its wholly owned subsidiary W&W Manufacturing entered into a definitive agreement with Melorganics Hellas for the exclusive distribution of Yield's Wright & Well brand of CBD products in Greece and Cyprus.
The agreement grants exclusive distribution rights to Melorganics for an initial fee of CAD $100k for the first three years and continued exclusivity for up to 20 years with minimum annual purchases by Melorganics of CAD $100k.
The initial licensing fee is payable after at least 3 Wright & Well products have been registered for sale within the European Union, which is anticipated to take 3 - 6 months months. Melorganics is to submit its first order of products within 30 days after the date the 3 products have been registered.
Yield's Wright & Well brand has a line of Ayurveda-inspired CBD infused products that are supported with hemp root oil. This powerful line-up is uniquely formulated to help people move freely by helping to alleviate pain. With proprietary formulations as unique as they are powerful, these products are backed by more than 30 years of Ayurvedic study and hands-on practice with chronic pain sufferers. Each product is formulated with the purest ingredients, nano-precise ratios, and uses carefully selected strains for the most impactful result.
Brightfield Group estimates that the European CBD market will boom over the next four years. The market was estimated at $318 million in 2018 and is expected to grow over 400 percent through 2023.
"CBD is just starting to take hold in Europe, with both product availability and consumer awareness still quite limited. This is a great opportunity for developed brands to enter and expand through Europe with far less competition than we're seeing in the U.S.," says Bethany Gomez, Brightfield Managing Director.
About Melorganics
Melorganics Hellas plans to enter the Greek and Cypriot markets with a full line of CBD products. The company is in the process of securing exclusive rights and strategic alliances with leading companies both in Greece and Canada; companies that are focused on the development of unique health products and nutraceuticals utilizing cannabis and botanical oils. The company is founded by Athanasios (Tom) Vachliotis (a Greek and Canadian Citizen), and John Philpott, who both have proven success in different business ventures. Vachliotis has deep ties to Greece and many past business successes. Philpott is the CEO of CanAm Physician Recruiting Inc., Canada's premier physician placement firm. He was the CEO of Canabo Medical Corp., which obtained a public listing in 2017 and merged in 2018 with Aleafia Health Inc. in a transaction valued at $40 million and resulting in a combined operation with a market cap over $200 million. In 2019, the TSX.V announced Aleafia as one of the top 50 best run companies listed on the exchange for 2018. Yield Growth owns a less than 20% interest in Melorganics.
About The Yield Growth Corp.
The Yield Growth Corp. is building and operating hemp, cannabis and other wellness assets in the $4.2 trillion-dollar global wellness market. 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 skin care brand, Urban Juve, has signed distribution agreements in Canada, Columbia, Brazil, Greece and Cyprus and through its distributor network has access to over 8,000 retail locations. Urban Juve has been featured in UK Vogue and Elle Canada and has an alliance with leading online beauty community, ipsy. Yield Growth's Wright & Well brands are launching a THC/CBD line of topical products in Oregon and a CBD from hemp topicals line for U.S. distribution this fall.
Through its subsidiaries, Yield Growth has over 200 proprietary beauty, wellness, edibles and beverage formulas for commercialization. It has filed 12 patents to protect its extraction method and formulas. Yield Growth also acquires interests in start ups and provides incubation services to emerging wellness companies. Yield Growth is in revenue through multiple streams including licensing, services and product sales.
For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #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, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48178
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
[email protected]
1-833-514-BOSS 1-833-514-2677
1-833-515-BOSS 1-833-515-2677
SOURCE Yield Growth Corp
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