VANCOUVER, British Columbia, Aug. 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- The Yield Growth Corp. (CSE:BOSS) (BOSQF) (YG3.F) is pleased to announce that it has entered into an exclusive distribution agreement through its subsidiary Urban Juve Provisions Inc. with Organic Medical Growth OMG3 Inc. ("OMG3") for the exclusive distribution of Urban Juve products in Colombia and Brazil for a term of 5 years.
OMG3 plans to commence distribution of Urban Juve hemp-infused products in Colombia. The first products to be offered will be Urban Juve's Face Moisturizer, Ritual Body Oil, and its signature Anti-Aging Serum.
OMG3, through an exclusive 10-year distribution agreement, has access to more than 9,000 points of sale in Colombia (pharmacies and specialized stores). Through the same distribution partner, OMG3 can reach more than 44,000 retail locations in other countries in South America, including Brazil, Costa Rica, Panama, Argentina, El Salvador, Guatemala, Chile, Uruguay, Ecuador and Peru. Yield Growth and OMG3 intend to expand their distribution agreement to cover these additional territories.
"We are very pleased to welcome Urban Juve to our distribution portfolio and exclusively distribute their products in South America. In addition to creating in-house and co-branded hemp seed and cannabis-based product lines, our strategy is to bring major international brands to the market in the areas of cosmetics, therapeutic and pharmaceutical products," says Jorge Diaz, President & CEO of OMG3. "We strongly believe that the Urban Juve products will be an excellent addition to the current retail offer, finding their way to customers across borders due to their natural formulas and benefits. Urban Juve products will be initially distributed in Colombia, and we look forward to working with their team on expanding the reach within our network throughout South America."
According to Goldstein Research, the Latin America cosmetics market reached a value of USD 31.98 billion in 2017 and is anticipated to grow at a CAGR of 4.49% during the forecast period 2017-2025.
About Organic Medical Growth OMG3 Inc.
OMG3 is a Canadian investment holding company with agrotech operations in Colombia in the field of cannabis production and transformation of cannabinoids for medicinal purposes from organic certified farms, as well as the distribution of cannabis-based medicinal products in Colombia and other markets through its subsidiary OMG Colombia.
OMG3 owns 100% of Estado Verde S.A.S, a Colombian company that has cannabis related licenses and permits, including the License for the cultivation of Psychoactive Cannabis (THC) and the License for the cultivation of Non-Psychoactive Cannabis (CBD). OMG has secured additional licenses by signing agreements with licensed producers in Colombia. The company has entered into a joint venture for a 4,000 hectares hemp production in Colombia.
OMG3 is positioning itself to become the largest producer and distributor of cannabis products in South America.
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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