Vancouver, British Columbia–(Newsfile Corp. – April 2, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (“Yield Growth”) announces its second Natural Health Product (NHP) application submitted to Health Canada for expedited approval under the new fast track policy; this application is for Urban Juve hand sanitizer gel.
Yield Growth Submits Second Hand Sanitizer Formula to Health Canada for Approval
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This application follows Yield Growth’s recent successful expedited approval of its Urban Juve hand sanitizer liquid spray, and is part of the company’s continued efforts to meet the growing market demand for disinfecting products that can help battle the coronavirus in Canada.
“Our new hand sanitizing gel provides a convenient and effective option for consumers on-the-go. We intend to provide a variety of formulas in several sizes for our customers,” says Yield Growth CEO Penny White. “Yield Growth is well-positioned to take advantage of the rising demand for high-quality, natural products to support good health and fight infectious diseases.”
Yield Growth intends to increase revenues by offering products that are in high and sustainable consumer demand. It draws on existing, stability-tested formulas to bring these to market under new and existing brands.
Wholly owned subsidiary Urban Juve is enhancing its personal care line with the addition of several hand sanitizer products – a gel and a spray. Further, Urban Juve is developing a hand care line inclusive of a cleansing wash and a lotion, to combat irritation that occurs with consistent sanitization of one’s hands. It is also conducting research into plant-based therapeutics to fight infectious disease to inform its product roadmap.
Majority owned subsidiary Flourish Mushroom Labs continues product development of its functional mushroom coffees – formulas created to boost immunity. It is also progressing with research and development into therapeutic use of psychedelics.
Deemed an “essential service” in many Canadian provinces and U.S. states, cannabis dispensaries remain open through the COVID-19 pandemic. Given the uninterrupted consumer demand, Yield Growth is proceeding ahead with the development of a cannabis brand for distribution in Canada, Jack n Jane, planned for launch this fall. It intends to build on the success and learnings from its Wright & Well THC-infused pain management line, launched in Oregon several months ago.
“Crisis situations often present an opportunity to reflect upon and improve the way we do things,” says Bhavna Solecki, Yield Growth Director of Product Research. “Hand sanitizer can do more than just sanitize, which is why we have formulated our hand sanitizers inspired by Ayurvedic philosophy to promote ultimate skin health as well.”
The Urban Juve natural hand sanitizer gel contains 65% Ethyl alcohol, which is in line with Health Canada guidelines. To kill most viruses, a hand sanitizer requires at least 60% alcohol content. Urban Juve’s gel formula also contains witch hazel, aloe vera and a mixture of seven essential oils which are refreshing, invigorating and are known for their natural disinfecting properties: oregano, thyme, tea tree, cedar, eucalyptus, blood orange and lemon. Combined with aloe vera, these essential oils calm, hydrate and invigorate the skin. Witch hazel also has anti-inflammatory and antiviral properties and is often used in topical botanical skin care.
Urban Juve is planning to launch its liquid spray hand sanitizer this month and its gel based hand sanitizer in Summer 2020. The global market for hand sanitizers is anticipated to reach $5.5 billion by 2024, up from $2.4 billion in 2017, according to Reportsnreports.com.
Yield Growth also announces that it will be filing its annual financial statements for the year ended November 30, 2020 and interim financial statements for the period ended February 28, 2020 a few weeks late, as allowed pursuant to the blanket relief for market participants due to COVID-19 granted by the Canadian Securities Administrators. The company, as well as its auditors, requires additional time to complete the filing requirements due to the disruption caused by the spread of COVID-19, as all personnel involved switched to working remotely.
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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