The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, FSE:YG3) is pleased to announce that it has entered into a distribution and licensing agreement dated August 25, 2019 with 2699598 Ontario Corp. DBA Melorganics Hellas (“Melorganics”) for European rights to six product formulas for CBD infusion for a fee of $900,000.
Wright & Well to Launch in Europe
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Yield has agreed to license to Melorganics in perpetuity the non exclusive rights to formulas and know-how to manufacture and distribute CBD foot cream, CBD body oil, CBD muscle relief balm, CBD body exfoliant, CBD relief gel and CBD hand cream. The formulas may be developed by Melorganics into products infused with CBD and other cannabinoids and distributed throughout the European Union under one brand to be developed by Melorganics (the “Brand”).
Yield shall have approval on the Brand and packaging of the products. The $900,000 fee is due within one week and may be paid by the issuance of Melorganics Units to Yield. Upon being issued Melorganics Units, Yield shall own approximately 18% of Melorganics and shall have the right to appoint a Director to the Board of Directors of Melorganics. The value of the Melorganics Units are based on the most recent private placement into Melorganics.
“We are excited to expand our relationship with Melorganics to bring our CBD products into Europe both as a new brand to be developed and also through the Wright & Well brand,” says Penny Green, CEO of Yield Growth. “The quality of our products and the strength of our brands allow us to continue to generate revenue and build our assets to bring value to our shareholders.”
Yield Growth has also agreed to grant Melorganics exclusive distribution rights to the Wright & Well brand of CBD products for the territory of Greece and Cyprus for a term of two years for a fee of $100,000, payable after a definitive distribution agreement is signed between the parties and after at least 3 Wright & Well products have been registered for sale within the European Union.
As previously announced, Melorganics was appointed as the exclusive retail distributor and non-exclusive e-commerce distributor for Yield Growth’s Urban Juve products in Greece and Cyprus. To maintain exclusivity in the territory, Melorganics must purchase a minimum amount of Urban Juve products of $300,000 in Year 1 and $500,000 in each subsequent year.
“We are delighted to partner with Yield Growth and now also have access to the Wright & Well Brand. Multiple SKUs is the best way to enter any market. Now when the product lines are also outstanding in quality, you really can’t go wrong,” says Tom Vachliotis, President of Melorganics Hellas.
Yield Growth is in the process of registering all of its Urban Juve products for sale in the European Union with 2 products approved to-date and 9 more anticipated to complete registration in the fall.
Yield Growth announces a financing of $500,000 through the issuance of special warrants at $0.30 convertible into units consisting of one share and one warrant to purchase an additional share at $0.35 for a period of two years.
Melorganics Hellas plans to enter the Greek and Cypriot markets with a full line of CBD products. The company is in the process of securing exclusive rights and strategic alliances with leading companies both in Greece and Canada; companies that are focused on the development of unique health products and nutraceuticals utilizing cannabis and botanical oils. The company is founded by Athanasios (Tom) Vachliotis (a Greek and Canadian Citizen), and John Philpott, who both have proven success in different business ventures. Vachliotis has deep ties to Greece and many past business successes. Philpott is the CEO of CanAm Physician Recruiting Inc., Canada’s premier physician placement firm. He was the CEO of Canabo Medical Corp., which obtained a public listing in 2017 and merged in 2018 with Aleafia Health Inc. in a transaction valued at $40 million and resulting in a combined operation with a market cap over $200 million. In 2019, the TSX.V announced Aleafia as one of the top 50 best run companies listed on the exchange for 2018.
About The Yield Growth Corp.
The Yield Growth Corp. develops, manufactures and distributes cannabis and hemp infused product brands Urban Juve and Wright & Well and has a catalogue of over 200 wellness and beauty formulas. It intends to disrupt the international wellness market, which is a $4.2 trillion global economy, according to the Global Wellness Institute, by connecting ancient healing with modern science and technology. Its 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 proprietary, patent-pending extraction technology and has 12 patents pending. Yield Growth is building robust international distribution channels and has multiple revenue streams including services, licensing 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, Wright & Well, 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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CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.