Vancouver, British Columbia, Canada -- April 28, 2020 --
InvestorsHub NewsWire -- The
Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF)
(FSE:
YG3) ("Yield
Growth") announces its wholly owned subsidiary Jack n
Jane Essentials Inc. signed a definitive agreement on April 27,
2020 with licensed producer Argentia Gold Corporation ("Argentia"),
for the manufacture and distribution of Jack n Jane branded
cannabis products in Canada.
Figure 1: Yield Growth Signs Definitive Agreement with LP Argentia
Gold to Manufacture Jack n Jane
Cannabis Products in Canada
The agreement includes 35 products to be launched over a 2-year
term, including similar products that have been previously launched
by Yield Growth subsidiary and cannabis wellness brand Wright &
Well, in Oregon, U.S. Yield Growth has developed the cannabis brand
Jack n Jane especially for the Canadian market, with dozens of
cannabis 2.0 products planned using proprietary formulas from Yield
Growth's extensive catalogue.
The agreement states the parties will
work towards an initial summer 2020 launch with THC-infused topical
balm, gel, massage oil and THC and CBD tinctures, as seen in the
Wright & Well collection. THC pre-rolls, live resin and gummies
are planned for launch in late 2020 and THC-infused mints and
chocolates, as well as CBD skin care products are planned to launch
in 2021. Cannabis-infused beverages, teas, capsules and intimacy
products are planned to follow. The formulas for the 35 products in
the line come from Yield Growth's extensive formula library. These
formulas are all natural, plant-based, and developed with Ayurvedic
principles. The topical products contain Yield Growth's proprietary
hemp root oil, made using Yield Growth's proprietary and
patent-pending extraction technology. Argentia Gold expects to
fulfill the licensing requirements to sell cannabis products in 3
provinces next month, with plans underway to obtain sales licenses
in 7 more provinces this year.
"We
are extremely excited to be embarking on this new initiative.
Argentia Gold has the cannabis cultivation and processing licenses
to enable us to launch our Jack n Jane products in Canada. The
execution of this agreement marks the culmination of years of work
by our product development, branding, legal and marketing teams,"
says Penny White, Yield Growth co-founder and CEO. "After launching
20 cannabis and personal care products in the past 16 months, while
developing a diverse range of brands, we have gained the expertise
to launch a range of cannabis 2.0 products into the Canadian market
over the next 2 years."
"Our partnership with Yield Growth delivers a line of
products that greatly expands our offerings and further positions
Argentia Gold as a leader in this newly emerging market of
beverages, edibles and topicals," says Dave Thomson, Argentia Gold
President. "Argentia Gold's expertise in the cannabis and consumer
packaged goods sectors will allow Yield Growth to successfully
enter the infused market and paves the way for the two companies to
potentially become major players in cannabis 2.0 in Canada."
Under the agreement, Jack n Jane will
provide non-cannabis raw materials, bulk product, product
formulation information, product development, marketing, packaging
and labels, and sales support. Argentia's obligations are to
provide cannabis ingredients, manufacturing services, ensure
regulatory compliance, and distribute the products throughout
Canada. The term of the agreement is 2 years, and the parties agree
to equally split the profits after costs recoupment. Yield Growth
retains all intellectual property in its Jack n Jane brand and
formulations. This is not a related party transaction and no
finders fees are payable for this agreement.
Yield Growth already has the required
child-resistant packaging and bulk product ready for cannabis
infusion for the initial product launch. Products must be
registered and approved by Health Canada before manufacturing
begins, and then the products need to be registered in each
province for online sales and sales through dispensary retail
stores throughout Canada prior to sale.
According to estimates by Deloitte,
Canadian cannabis topicals and edibles (Cannabis 2.0) could be
worth CAD $2.7 billion annually. The global legal marijuana market
size is expected to reach USD $73.6 billion by 2027, according to a
new report published by Grand View Research, Inc.
About Argentia Gold
Corporation
Argentia Gold Corporation is a
Canadian vertically integrated licensed producer authorized to
cultivate and process cannabis under the Cannabis Act. Its
facility, a former U.S. naval base turned industrial park on the
deep-water Port of Argentia, encompasses 80,000 square feet on 10
acres of land, and they are currently using 14,000 square feet with
lots of room to grow. Argentia Gold presents a unique opportunity
for manufacturers who want to get in on the ground floor of a
developing market, with planned affiliated retail stores.
About The Yield Growth
Corp.
The Yield Growth Corp. is a 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. Its products are sold through e-commerce
worldwide and retail stores in 3 countries with distribution
agreements in place for 12 more countries. It has 14 patent
applications filed in what the Global Wellness Institute reports is
a $4.2 trillion-dollar global wellness market. It owns the
plant-based skin care brand Urban Juve, which is currently
launching a line of hand care products, and it owns wellness brands
Wright & Well and Jack n Jane. 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.
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 White, President & CEO
Kevan Matheson, 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 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 do 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. The laws
around cultivating, selling and using psychedelic mushrooms would
need to change in most jurisdictions in order for the use of
psychedelic products to be legal and sale of, and demand for, Urban
Juve, Wright & Well, NeonMind and Jack n Jane
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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