YIELD GROWTH Registers 3 New Products with Health Canada preparing for Cannabis Topicals Legalization in Canada
VANCOUVER, British Columbia, Jan. 22, 2019 (GLOBE NEWSWIRE) — The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF) announces that its subsidiary Urban Juve has registered 3 Urban Juve Skin Exfoliants as cosmetics with Health Canada, bringing the total number of Health Canada Urban Juve registered products to 29.
The three exfoliants are meticulously formulated with non-toxic ingredients to benefit each of the three targeted skin types as understood in the Ayurvedic system. Each body exfoliant combines botanical oils with a base of finely ground Himalayan Salt rich in 84 trace minerals for immediate skin absorption. This high mineral content of Himalayan salt helps maintain the protective barrier of the skin allowing it to hold in hydration without causing wrinkling, while removing dead skin cells. The products have passed all required testing for manufacture in Canada. The product will be sold in 100mL glass jars with a suggested retail price of $25 per unit.
The Canadian government has announced proposed legislative changes to make Cannabis topicals fully legal for sale in Canada no later than October 17, 2019. Cannabis topicals include products containing cannabis as an ingredient that are intended to be used on external body surfaces, including skin, hair, and nails.
Yield Growth subsidiary, UJ Topicals, has the rights to infuse the 3 exfoliants with THC and CBD and is currently aligning with licensed cannabis manufacturers so that it can be prepared to go to market in Canada in late 2019 when the cannabis topicals laws are anticipated to be become law.
According to cannabis industry analysts the Brightfield Group, the hemp-CBD market alone could hit $22 billion by 2022.
About The Yield Growth Corp.
The Yield Growth Corp. is dedicated to the rapid, sustainable financial growth of cannabis assets. Its directors and officers have experience working at multi-billion dollar international companies including M.A.C Cosmetics, Aritzia, Skechers, Best Buy, Future Shop, Pepsi and Coca-Cola.
Yield Growth owns 100% of Urban Juve Provisions Inc., which has synthesized ancient Ayurvedic knowledge and modern techniques to create a catalogue of over 50 exceptional personal care and wellness products. Urban Juve has registered with Health Canada 29 products containing cannabis sativa hemp oil. The company has also filed 11 provisional patent applications in the United States. Urban Juve’s skin care products are sold through e-commerce and through retail stores in Canada, with distribution agreements signed for the United States and Italy. Urban Juve has licensed its formulas to Yield Growth 100% owned subsidiary UJ Topicals Inc., which is launching its cannabis topicals line through a distribution network of 400 stores in Oregon, U.S.A. UJ Beverages Inc., another Yield Growth subsidiary, is developing a line of beverages for CBD infusion.
Investor Relations Contacts:
Penny Green, 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 and UJ Topicals 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.