June 13, 2019 – Vancouver, BC: The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (Frankfurt:YG3) and Melorganics are pleased to announce the parties have signed a letter of intent for international distribution of Urban Juve products in Greece and Cyprus.
The LOI contemplates that Melorganics will act as the exclusive retail distributor and non-exclusive e-commerce distributor for Urban Juve products in Greece and Cyprus. To maintain exclusively 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.
Urban Juve plans to register all its existing products in the European Union, and Melorganics will sign the requisite mandate with Urban Juve’s European Responsible Person. Melorganics will also support Urban Juve sales with a marketing plan tailored to the region. The parties plan to enter into a definitive long form agreement within 30 days.
According to a Vogue Business report, Greece’s luxury market is showing promising growth. The overall economy is forecasted to grow by 2.2 percent by 2020—outpacing the wider Eurozone. Encouraged by steady economic growth, increased cultural buzz and tourist spending, luxury brands in particular are investing in Greece. Not only is Greece enjoying surging foreign and local investments, the country legalized cannabis for medical reasons in 2018, creating opportunities for the cannabis industry.
Melorganics founders Tom A. Vachliotis and John Philpott have proven track records of success in different business ventures. Vachliotis is a result-driven brand expert who has developed global marketing and business development strategies for a wide range of industries. Fluent in Greek and English, Vachliotis has deep ties to Greece and has assembled an experienced staff for Melorganics in the country, including practicing pharmacist and a member of the Hellenic Pharmaceutical Association, and national sales manager with over 20 years of experience in pharma and cosmetic sales.
Philpott founded one of Canada’s premier physician placement firms and built a successful career by helping physicians navigate international career transitions and secure gainful employment. He is the CEO of CanAm Physician Recruiting Inc., and CEO of Canabo Medical Corp, who operated a Cannabis Medical Clinic assessing patients for the use of medical cannabis to treat chronic conditions. Together, Philpott and Vachliotis have the deep expertise necessary for success in Greece and Cyprus.
“We expect our alliance with Melorganics will allow us to bring high-quality Ayurveda-inspired formulations to the growing luxury market in Greece and Cyprus,” says Penny Green, CEO of Yield Growth. “Tom A. Vachliotis and John Philpott have the experience and drive to make our launch in this market a success.”
1944459 Ontario Corp. dba Melorganics Canada has a subsidiary in Greece, Melorganics Hellas.
About The Yield Growth Corp.
The Yield Growth Corp. is disrupting the $4.2 trillion-dollar global wellness market by harnessing the power of hemp- and cannabis-infused products. The Yield Growth 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. Its consumer brand, Urban Juve, has signed over 110 retail locations to sell its products in North America and is now launching e-commerce sales in China through Wechat. Urban Juve has signed a sales and marketing alliance with the world’s largest online beauty community, ipsy, and Urban Juve products will be included in ipsy Glam Bags. Yield’s THC line of Wright & Well products are launching next month in Oregon through an established distributor with a 400 cannabis retail store network.
Through its subsidiaries, Yield Growth has developed over 200 cannabis beauty, wellness, and beverage formulas for commercialization. A key ingredient in many of these products is Urvan Juve’s hemp root oil, created using Urban Juve’s proprietary, patent-pending extraction technology. Yield Growth is in revenue through multiple streams including licensing, services 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, 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.
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