Vancouver, British Columbia–(Newsfile Corp. – April 14, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (“Yield Growth”) announces that its subsidiary Urban Juve Provisions Inc. (“Urban Juve”), submitted a Natural Health Product (NHP) application with Health Canada for its pain balm.
Yield Growth Files for Health Canada Approval of Urban Juve Pain Balm
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“Pain is the most common reason that people seek medical attention in North America, and it is a tremendous load for our social, economic, and medical systems. Especially in times like these, when access to medical care is limited for most,” said Yield Growth CEO Penny White “now, more than ever, individuals are seeking alternative, at home remedies to treat their pain.”
Some studies estimate that up to 40% of the population suffers from chronic pain. Arthritis is the most prevalent health condition in Canada, and its most common form is osteoarthritis which is a leading cause of disability worldwide. Other common causes of chronic pain include gout, rheumatoid arthritis, fibromyalgia, lupus and carpal tunnel syndrome which is increasingly affecting youth, from excessive typing and texting.
The Global Topical Pain Relief Market was valued at $7.5 billion in 2017, and is projected to reach $13 billion by 2025 at a CAGR of 7.4% from 2018 to 2025, according to Allied Market Research. Yield Growth currently has 3 topical cannabis products for sale in Oregon through the line Wright & Well, a balm, a gel and a massage oil, and is planning to launch similar products in Canada.
“Pain is not just something that the older population faces, excessive stress and anxiety that comes with our modern way of living is leading to chronic pain disorders in younger people as well,” added White. “Our pain balms are tools to ease pain, promote relaxation and enable restful sleep.”
The health claim under review for Urban Juve’s pain balm is: “temporarily relieves back aches and pains of muscles and joints associated with one or more of the following: simple backache, lumbago, strains and sprains (involving muscles, tendons, and/or ligaments), and arthritis.”
Many of Yield Growth’s products are deeply rooted in Ayurveda, leveraging both ancient wisdom and modern science.
“Our newest pain balm is an elixir of different botanicals blended to support an everyday self-care regime for pain management. Whether for arthritis and fibromyalgia sufferers, for those with muscle and joint pain, or for those simply sore from taking a weekend hike,” said Bhavna Solecki, Yield Growth Director Of Product Research.
The product uses a synergetic blend of castor, hemp seed, coconut and avocado base oils mixed with the essential oils camphor, cinnamon, cloves, eucalyptus and lavender along with menthol as active ingredients. Menthol crystals act as an anti-irritant and provide a heating/cooling effect by sending a signal to the brain which interprets the feeling as cold, relieving the uncomfortable heat of inflammation.
Cinnamon oil was used as early as 2700 B.C. to soothe inflammation, stiffness, muscle knots, and back pain. Cloves have been used in dentistry for tooth aches for many centuries. Records have also shown Castor oil has been used in Ayurveda since 2000 B.C as a traditional analgesic. Camphor has been used as a remedy in both traditional Chinese and Ayurveda medicine for more than 4,000 years to treat a wide range of illnesses including nervous afflictions.
“Pain is inevitable, but at the same time suffering is optional,” added Solecki. “We are passionate about creating natural remedies that leverage modern science and ancient wisdom to help people to live their most healthy and whole lives.”
About The Yield Growth Corp.
The Yield Growth Corp. conducts research and development and sells 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 conducts research for plant-based therapeutics, including protection against infectious diseases, and has 13 patents 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. It’s majority owned subsidiary Flourish Mushroom Labs is launching a line of medicinal mushroom products and developing a business 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
Kevan Matheson, 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, 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, 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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