March 12, 2020 – Vancouver, BC: The Yield Growth Corp. (“Yield Growth”) (CSE:BOSS) (OTCQB:BOSQF) (FE:YG3) is pleased to announce it is filing 19 new cosmetic notifications with Health Canada for products under its Urban Juve and Antler product lines. This brings the company’s total number of products notified with Health Canada to 44. Several of the products are expected to become commercially available in 2020.
Health Canada requires that all cosmetic products, whether imported or manufactured domestically, be notified to Health Canada, which monitors the production and distribution of various products, including cosmetics. Products that are not notified may not be sold in Canada, and there are no exemptions for products being test-marketed.
“Health Canada’s requirements are extremely important, and help to protect Canadian consumers. We welcome these requirements because we are committed to producing the highest-quality products and refuse to cut corners in our formulations,” said Penny White, CEO of The Yield Growth Corp. “All manufacturers and importers of products are responsible for ensuring that their cosmetics meet the requirements.”
The 19 new products include:
- Men’s beard oil
- Men’s deodorant
- Face and eye make up remover
- Facial oil (for dry skin)
- Facial oil (for oily skin)
- Mens hair pomade
- Men’s after shave moisturizing cream
- Four unique mens colognes
- Nail cuticle oil
- Six essential oil-based roll-on perfumes
- Mens’ and womens’ shaving cream
Manufacturers and importers are responsible for ensuring that cosmetic products such as these meet the requirements of the Food and Drugs Act and that the Cosmetic Ingredient Hostlist has been checked to ensure that prohibited or restricted ingredients are not included or are labelled properly.
“Your skin has memory – invest in your skin,” said Bhavna Solecki, Director of Product Development. “At Yield Growth we make sure to follow every protocol to deliver a safe and clean product in compliance with Health Canada guidelines.”
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 had 13 patents filed 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 cannabis 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
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, 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.