YIELD GROWTH Signs $800K LOI for Worldwide Licence to 8 Products for Men’s Hemp and CBD Line to Antler Retail
The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, Frankfurt:YG3) is pleased to announce that it has entered into a letter of intent on July 24, 2019 to license the worldwide rights for 8 cannabis product topical formulas to Antler Retail Inc.
Antler’s California subsidiary previously acquired licenses for 56 product formulas for the California market from Yield Growth. After developing testing and packaging plans with Yield Growth, Antler now wishes to expand its license for 8 of the products for rights to worldwide distribution. The fee of $800k payable to Yield Growth will provide non-exclusive worldwide licensing rights to the following men’s products developed by Yield Growth: hair pomade, beard oil, shaving cream, deodorant and 4 essential oil colognes.
Yield Growth anticipates it will generate additional revenues through the license as the LOI contemplates that Yield Growth will provide packaging, marketing, manufacturing and distribution services to Antler for the men’s line. The LOI contemplates that the license fee may be paid in stock but other fees are to be paid in cash on a monthly basis.
Yield Growth has developed expertise in developing and launching cannabis brands through its in house brands Urban Juve and Wright & Well. Yield Growth building an international distribution platform for cannabis products which expands to the US, Europe and Asia with intentions to enter South America.
Antler is a related party to Yield Growth, as Krystal Pineo and Penny Green are both directors and significant shareholders of Yield Growth and Antler. The LOI anticipated that a definitive agreement will be entered into within 3 weeks and closing of the transaction will occur by August 31, 2019.
About Antler Retail Inc.
Antler is developing an international brand. Through its subsidiary it has a lease on a California property with a retail space designed to be a cannabis retail dispensary and a tenant who is in the process of applying for a California cannabis retail license with statewide delivery rights. Antler Retail is also developing a men’s hemp and CBD personal care line for international distribution.
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 sophisticated 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, UJ Topicals, UJ Beverages and UJ Edibles 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.