Yield Growth Receives Health Canada Approval for Hand Sanitizer in
Fight Against Coronavirus COVID-19
Vancouver, British Columbia, Canada -- March 31, 2020 --
InvestorsHub NewsWire -- The Yield Growth
Corp. (CSE: BOSS) (OTCQB: BOSQF)
(FSE:
YG3) ("Yield
Growth") announces that Health Canada has granted
approval for Urban Juve's liquid hand sanitizer to be manufactured
in Canada. This approval was earned on March 27 2020 from Health
Canada's Natural and Non-prescription Health Products Directorate
(NNHPD), issuing Product License NPN 80097926.
Yield Growth Receives Health Canada Approval for Hand Sanitizer in
Fight Against Coronavirus COVID-19
The approval was granted within one week of the application being
submitted. This fast track approval will allow Urban Juve to
complete an initial manufacturing run more quickly than the
estimated 60-day schedule announced last week.
To protect against coronavirus
disease 2019 (COVID-19), the Center for Disease Control advises to
clean hands often with soap and water for at least 20 seconds, or
if soap and water are not readily available, to use a hand
sanitizer with at least 60% alcohol.
Urban Juve's natural hand sanitizer
liquid spray contains 65% alcohol, which is in line with Health
Canada guidelines, and also has a refreshing and clean blend of
peppermint, lavender and orange peel oils, all of which are known
for their disinfecting properties and their ability to promote
optimum skin health.
"We hope to have our hand sanitizer for sale direct to consumers
on UrbanJuve.com within the next 30 days. This launch is a part of
our efforts to meet the enormous and growing market demand for hand
sanitizers as we battle the coronavirus in Canada," said Penny
White, CEO of Yield Growth.
According to Reportsnreports.com, the
global market for hand sanitizers is anticipated to reach $5.5
billion by 2024, up from $2.4 billion in 2017. CNBC also reported
that sales of hand sanitizers increased by 470% in the first week
of March this year compared to the same week a year earlier.
Fior Markets also reported that
sanitizers from both pharmacies and supermarkets, as well as those
available from online e-commerce channels such as Amazon and
Flipkart are out of stock or for sale at inflated prices.
"I'm so impressed with the speed and efficiency
with which Health Canada handled our application," said White.
"It's comforting to see governments taking fast action on this
crisis, and we are tremendously thankful to all of the policy
makers in Canada and all around the world who are working
tirelessly to come up with policies to fight the health and
economic crisis at hand."
All packaging and raw materials have
been secured for the initial production run.
"We are also currently developing a
gel hand sanitizer and intend to file a second Health Canada
application shortly as well as an application with the FDA so that
we will also be able to sell hand sanitizer in the United States,"
said White.
"A time of crisis can be more than just a time of
anxiety and worry. It is also an opportunity, a chance to make a
difference and provide a solution to the world that has
significance," says Bhavna Solecki, Yield Growth Director of
Product Research. "We are committed to putting these products into
the hands of all the brave and committed Canadians who are working
to keep our food stores and pharmacies open, as well as the front
line workers and care aides looking after elderly."
Yield Growth intends to donate a
portion of the hand sanitizers that it manufactures to workers on
the front line. Yield Growth has already been donating self care
products to front line workers with over 500 products delivered to
seniors centers in the immediate area.
About The Yield Growth
Corp.
The Yield Growth Corp. conducts
research and development and sells plant-based products that
improve lives. It has over 200 proprietary wellness 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, including protection against
infectious diseases, and has 13 patents filed in what the Global
Wellness Institute reports is a $4.2 trillion-dollar global
wellness market. It owns the plant-based skin care brand Urban
Juve, which is currently launching a line of hand care products,
and it owns wellness 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.
For
more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #findyourjuve across
social platforms to learn, engage and shop.
Investor Relations
Contacts:
Penny White, President &
CEO
Kristina Pillon, Investor
Relations
invest@yieldgrowth.com
1-833-514-BOSS 1-833-514-2677
1-833-515-BOSS 1-833-515-2677
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.
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