Vancouver, British Columbia–(Newsfile Corp. – March 5, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce that today it ships its first products to OMG Colombia, the subsidiary of Organic Medical Growth OMG3 Inc. (“OMG3”) in Latin America, based in Colombia, as part of a 5 year distribution deal for Yield Growth’s Urban Juve skin care line. Today, 1,800 products are being shipped, in partial fulfillment of OMG’s first product purchase order in anticipation of imminent completion of regulatory approval to sell Urban Juve products in Colombia and progressively in other parts of South America.
Urban Juve arrives in Colombia
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“We are excited to grow Urban Juve’s presence in South America as momentum for sales continues to grow in North America,” says Yield Growth CEO Penny White. “Through the efforts of our talented sales team we are currently arranging to send product orders to over 200 new retail locations in Canada for anticipated delivery in June 2020, and we continue to produce new inventory to meet sales demands internationally.”
According to Goldstein Research, the Latin America cosmetics market reached a value of USD $31.98 billion in 2017 and is anticipated to grow at a CAGR of 4.49% during the forecast period 2017-2025.
OMG3 is in the process of distributing Urban Juve skin care products in Colombia and other countries of Latin America. Through its Colombian partner Ortix, OMG has access to a distribution channel of over 44,000 pharmacies in South America and has partnered with on-demand delivery giant, Rappi, to sell products through its e-commerce platform. Rappi was founded in Colombia in 2015 and has become the unicorn of the LATAM start up scene having just received $1 billion in venture capital funding from Softbank. Rappi is located in 55 cities across 7 LATAM countries including Brazil, Argentina, Chile, Colombia, Peru, Uruguay, and Mexico and plans to expand to 100 new cities by the end of 2019.
About The Yield Growth Corp.
The Yield Growth Corp. is a health and beauty consumer packaged goods company selling plant-based products with over 200 proprietary beauty, wellness, edibles and beverage 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 conducts research for plant-based therapeutics and has filed 15 patent applications in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market. It owns the hemp skin care brand Urban Juve, which has been featured in UK Vogue and Elle Canada, and it owns brands Wright & Well and Jack n Jane. It’s majority owned subsidiary Flourish Mushroom Labs is launching a line of superfood mushroom products and developing intellectual property and assets in the emerging market of psychedelic medicine. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia. Yield Growth earns revenue through multiple streams including licensing, services and product sales.
Investor Relations Contacts:
Penny White, President & CEO
Kristina Pillon, Investor Relations
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, intellectual property protection, and sale of, and demand for, Urban Juve, Wright & Well, Flourish Mushroom Labs, Jack n Jane 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.
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