Yield Growth Creates California Subsidiary Mad Wallaby Distribution Inc. to Establish Sales Channels for Hemp Root Oil and CBD Wellness Products
VANCOUVER, British Columbia, March 26, 2019 (GLOBE NEWSWIRE) -- The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF) (Frankfurt: YG3) announces Mad Wallaby Distribution Inc. as a new, wholly owned subsidiary which has been submitted for incorporation in the State of California. Mad Wallaby establishes legal U.S. retail and e-commerce distribution for beauty, health and wellness brands with products containing hemp ingredients including cannabidiol from hemp (CBD) that have less than 0.3 percent concentrations of THC.
Drawing on the immediate product development, technology, manufacturing and retail management experience of the Yield Growth leadership team, the company is uniquely positioned to offer businesses affordable market intelligence and pave the sales path required to capitalize on this unique growing sector.
Establishing Mad Wallaby to create U.S. distribution channels for CBD products is an exciting, natural step for Yield Growth
says Penny Green, Yield Growth CEO.
As we are seeing now with the American national drugstore chain CVS for example, shelf space for these products is expanding quickly in relation to strong consumer interest and increasing market demand. Adherence to the complex and evolving laws surrounding these products remains important and represents our trusted distinction as a distributing partner for both emerging brands and the established retailers they seek to supply
A recent estimate from cannabis industry analysts the Brightfield Group indicates the international hemp-CBD market could hit $22-billion by 2022.
Mad Wallaby plans to build an initial distribution portfolio of 10 brands, including Yield Growth’s own Urban Juve and a Mad Wallaby CBD product line in development-- that meet its standards for quality and the legal requirements for products containing hemp pursuant to the U.S. Farm Bill and other applicable regulations. Starting in the Western States, Mad Wallaby’s core services include distribution, legal analysis, marketing, B2B sales and e-commerce support for brands. Mad Wallaby will charge a distribution fee as a percentage of sales plus fees for added services. Yield Growth has built a sophisticated e-commerce platform to sell the Urban Juve product line, which is expected to launch next month. Mad Wallaby can leverage the same technology to distribute other CBD products online.
Thrive Activations, another wholly owned subsidiary of Yield Growth, has been successful in providing incubation services for new ventures, including technology development and marketing support, and generated more than $1,000,000 in revenues in Fiscal 2018, all of which was paid in cash, not stock.
The Yield Growth Corp. intends to disrupt the wellness market, which is a $4.2 Trillion Global Economy according to the Global Wellness Institute, by connecting ancient healing with modern science, and harnessing the power of hemp- and cannabis-infused products. It is a vertically integrated asset company with the leadership, financial position and science-backed formulas to capitalize on the cannabis revolution. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy, Aritzia, Coca-Cola and Pepsi Corporation. Yield Growth serves mainstream luxury consumers who seek sophisticated wellness products. Its flagship consumer brand, Urban Juve, has registered 35 products with Health Canada and has signed 70 retail locations to sell its products. Key ingredients in these products include Cannabis Sativa hemp seed oil and hemp root oil, created using Urban Juve’s proprietary, patent-pending extraction technology. Urban Juve has also filed 11 provisional patents in the United States. Through its subsidiaries, Yield Growth is commercializing over 70 wellness and cosmetic products and has multiple revenue streams including licensing, incubation services and product sales.
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.