Yield Growth Corp Provides Mid-Year 2019 Corporate Update
Vancouver, British Columbia, Canada -- August 8, 2019 --
InvestorsHub NewsWire -- The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE:
YG3) is pleased to announce its second quarter
investor highlights. Over the past several months, the company has
undertaken several initiatives to increase its reach and build
valuable infrastructure to support future growth.
Urban Juve Hemp-Infused Skin Care
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Distribution Highlights:
-
More than 130 retail locations have signed on to carry Urban
Juve products in Canada and the US. The locations are
geographically diverse, and will bring luxury, hemp-powered
skincare products to new markets across North America
-
Yield Growth signed an agreement on June 12, 2019 with
Melorganics , who will act as the exclusive retail distributor and
non-exclusive e-commerce distributor for Urban Juve products in
Greece and Cyprus. To maintain exclusively in the territory,
Melorganics will purchase a minimum of US $300,000 in Urban Juve
products in the first year and US $500,000 in each subsequent
year
-
On April 30, 2019, Yield Growth has signed a consumer marketing
and sales alliance with ipsy, one of the world's largest beauty
subscription communities. Urban Juve products will be found in the
company's Glam Bag and are already available online on ipsy
Shopper. ipsy has over three million monthly members, more than
half a billion content views every month and relationships with
8,000+ digital content creators
-
Urban Juve expanded internationally and is now available to
purchasers in the largest skin care markets in the world-including
China, U.S., Canada, Japan, South Korea, Germany, Greece and
Cyprus
Brand and Marketing Highlights:
-
Urban Juve secured international media coverage in leading
publications, including Elle Magazine, Zoomer and the September
edition of British Vogue, which was guest edited by Meghan Markle,
now Duchess of Sussex, who used her stint to highlight women who
are "forces for change"
-
Yield Growth engaged a New York-based strategic graphic design
and branding company, The Design Spot, for brand direction for
packaging, merchandising and point-of-sale deliverables for Wright
& Well Manufacturing and Urban Juve. Their portfolio includes
work for renowned cosmetics brands such as Brandt MD, L'Oreal USA,
Origins, Revlon, Dove and hundreds more
-
Yield Growth has also engaged Cornerstone Strategic Branding, a
brand and packaging design agency based in New York with 28 years
of expertise, whose clients include major international brands --
Perrier, Nestle, Seagrams and Labatt -- to complete a visual
positioning study and subsequent creation of brand and packaging
design for Yield Growth's new hemp and cannabis beverage lines
-
Wright & Well, a wholly owned subsidiary of Yield Growth, is
preparing its first shipment of product for the Oregon market. The
brand offers wellness and therapeutic products that incorporate
high-quality CBD, THC, hemp root oil and terpenes to support a
healthy lifestyle
-
Yield Growth kicked off various initiatives to boost brand
awareness, increase reach and drive sales, including influencer
marketing and social media campaigns
Leadership Highlights:
-
Yield Growth welcomed a new Chief Operating Officer, Tamara
Melck, who was most recently Aritzia's Vice President, Corporate
Operations and Executive Vice President, People & Culture.
Melck has a proven track record for scaling businesses, and will
provide invaluable expertise as Yield Growth continues to
expand
-
Earlier this year, Yield Growth added Jeff Smith as Chairman of
the Advisory Board. As former Group Chairman for Consumer North
America for Johnson & Johnson (NYSE:JNJ), Jeff's division
represented more than 42% of global revenue, and over US$6.5
billion in annual revenue with mid-single digit growth rates. In
2011, Jeff was appointed President, U.S. Skincare for North America
and had full P&L responsibility for the skincare portfolio
within the U.S. As President of Johnson & Johnson's largest
business unit, Jeff grew it from the 3rd largest skincare company
to #1 in the U.S. over 3.5 years
Q2, 2019 Financial Highlights:
In the first half of fiscal 2019, Yield Growth its total assets
by 133% to $6.1 million from November 30, 2018 to May 31, 2019.
This included an increase in marketable securities as proceeds from
licensing and consulting revenues, additions of intangible assets
in product formulas and technology, and certain working capital
assets including prepayments and inventory to be deployed in the
operations of its growing business.
Revenues were from services offered through Thrive, licensing of
formulas and brands and Urban Juve product sales. Yield Growth
realized revenue of $1,176,629 and $1,977,128 for the three and six
months ended May 31, 2019 as compared to $190,116 and $1,998,929
for the same periods of the prior year. Revenues in Q2 2019
increased by 47% from Q1 2019 and increased by 519% over the same
period from the previous year.
Consulting revenue was $71,133 and $780,372 for the three and
six months ended May 31, 2019 as compared to $190,116 and $198,929
respectively for the same periods of the prior year.
During the three months ended May 31, 2019, Yield Growth signed
and delivered a licensing agreement with Antler Retail which
generated revenue of $1,000,000 for the three months ended May 31,
2019.
Licensing and product sales revenue also included sales of
products on the Company's ecommerce website and through retail
locations in Canada. As Yield Growth continues to develop our Urban
Juve product distribution internationally, it anticipates to
fulfill the following orders in the next six months:
-
Initial order anticipated for Urban Juve products for
distribution in Greece and Cyprus of approximately $50,000 once
products are registered for sale in the European Union
-
Initial order from a U.S. company for approximately $150k worth
of product which we expect to fulfill in Q4 2019
-
Urban Juve is in the process of creating secondary packaging to
meet Quebec additional French language requirements to deliver
products as requested by a Canadian retail chain
-
Yield Growth in negotiations to sign distribution agreements for
territories in South America, Asia and Europe, which, if signed,
could result in significant orders over the next six months
For the 3 and 6 months ended May 31, 2019, Yield Growth
dedicated resources on building corporate and brand assets,
including developing multiple product pipelines through formulation
and testing. Assets increased by 133% to $6.1 million. Liquid
assets also strengthened with current ratio improved from 3.3 at
November 30, 2018 to 4.1 at May 31, 2019.
The company incurred a loss of $4.1 million and $7.9 million for
the 3 and 6 months ended May 31, 2019, which included non-cash
items of $1.9 and $2.6 million, respectively. At the current stage,
Yield Growth intends to continue to invest in developing brand and
product assets, manufacturing of inventory, and marketing and
distributing its products around the globe.
Detailed Q2, 2019 Financial Statements and Management Discussion
and Analysis can be found on SEDAR.
Yield Growth is oversubscribed for its financing announced
August 5, 2019 of and is today closing the financing for
approximately $1,735,000 of capital.
About The Yield Growth Corp.
The Yield Growth Corp. develops, manufactures and distributes
cannabis and hemp infused product brands Urban Juve and Wright
& Well and has a catalogue of over 200 wellness and beauty
formulas. It intends to disrupt the international wellness market,
which is a $4.2 trillion global economy, according to the Global
Wellness Institute, by connecting ancient healing with modern
science and technology. Its 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. Yield Growth serves mainstream luxury consumers
who seek sophisticated wellness products. Its flagship consumer
brand, Urban Juve, has proprietary, patent-pending extraction
technology and has 12 patents pending. Yield Growth is building
sophisticated international distribution channels and has multiple
revenue streams including services, licensing 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.
Investor Relations Contacts:
Penny Green, President & CEO
Kristina Pillon, Investor Relations
invest@yieldgrowth.com
1-833-514-BOSS 1-833-514-2677
1-833-515-BOSS 1-833-515-2677
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, 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.
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