Yield Growth Corp. (CSE:BOSS) is pleased to announce the appointment of chemical engineer, Vivek Taneja, to its development team to develop plans for commercial hemp root oil production and to assist with the company’s planned cannabis extraction and product processing facility.
Vivek Taneja is an accomplished chemical engineer with more than 24 years of project management experience, including expertise in pilot plant and scale up studies, production management and technical project leadership. Prior to his appointment, Mr. Taneja was the project manager on over $50 million of engineering design and construction projects for global companies including Coca-Cola in Australia, Indonesia and India, Nestle Water and Minute Maid.
Mr. Taneja will assist in the management of small-scale hemp root oil production for Yield Growth’s immediate product needs, and will design a larger-scale commercial hemp root oil production facility for Yield Growth’s longer term requirements. He will also develop plans for a proprietary extraction process for Yield Growth’s planned extraction facility and design a cannabis products processing and manufacturing facility.
Thanks to increased demand for its hemp root oil, which just became decriminalized under the Cannabis Act in Canada and the 2018 U.S. Farm Bill, Yield Growth has plans to build out its commercial production facility this year.
“Drawing on years of engineering experience, Mr. Taneja will provide fresh insights to our technology and priorities as we continue to expand The Yield Growth Corp. at an accelerated pace,” said Penny Green, President and CEO.
At the moment, Yield Growth’s wholly-owned subsidiaries are developing and manufacturing personal care products containing hemp root oil and various cannabinoids. Yield Growth intends to obtain necessary licenses to process cannabis and manufacture cannabis products in multiple jurisdictions where such products can be sold.
About The Yield Growth Corp.
The Yield Growth Corp. is dedicated to the rapid, sustainable financial growth of cannabis assets. Its directors and officers have experience working at multi-billion dollar international companies including M.A.C Cosmetics, Aritzia, Skechers, Best Buy, Future Shop, Pepsi and Coca-Cola.
Yield Growth owns 100% of Urban Juve Provisions Inc., which has synthesized ancient Ayurvedic knowledge and modern techniques to create a catalogue of over 50 exceptional personal care and wellness products. Urban Juve has registered with Health Canada 26 products containing cannabis sativa hemp oil. The company has also filed 11 provisional patent applications in the United States. Urban Juve’s skin care products are sold through e-commerce and through retail stores in Canada, with distribution agreements signed for the United States and Italy. Urban Juve has licensed its formulas to Yield Growth 100% owned subsidiary UJ Topicals Inc., which is launching its cannabis topicals line in Oregon, U.S.A.
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.
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