The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, Frankfurt:YG3) pleased to announce that it has formed an alliance with on demand delivery service ParcelPal Technology Inc. (PKG) (PKG) (PT0) (PTNYF) for same day and on demand delivery and sale of hemp based cosmetics from Yield Growth’s subsidiary Urban Juve in Canada.
This initiative between Yield Growth and ParcelPal will commence in Vancouver as the catalyst city, and it is expected that additional cities will be rapidly added to this distribution network across Canada. Urban Juve’s customers will be able to purchase through Urban Juve’s website (www.urbanjuve.com) and ParcelPal will be creating an exclusive new category on their platform for Health and Beauty, where Urban Juve products will be available for purchase. Any orders made before 3pm will arrive the same day, and on orders over $65, shipping will be free within Canada.
ParcelPal to Offer Same-day Delivery of Urban Juve Products in Vancouver Beginning in August.
Customers will be able to track their purchase in real time and have their product delivered to any location they specify. As time and regulations allow, ParcelPal’s cannabis network is expected to continue to grow, with the goal of capturing a major piece of Canada’s legal cannabis market, which BDS Analytics estimates will grow to $5.2B by 2024.
ParcelPal President and CEO, Kelly Abbott states, “ParcelPal is thrilled to be working with an innovative company such as The Yield Growth Corp, which is addressing one of the fastest-growing subsegments of what, according to the Global Wellness Institute is a $4.2 trillion wellness market, with uniquely derived and cannabis infused products. This marks a milestone at ParcelPal, launching a new vertical with substantial growth potential. It’s also a unique opportunity to be at the forefront of an exciting new industry with our unique logistics solutions.”
According to Go People, up to 61% of shoppers are willing to pay extra for the convenience same day delivery brings, including saving time and a trip to go pick up the goods. From a business perspective, same-day delivery increases customer satisfaction and can create a lot of repeat business from customers. Go People says that offering same-day delivery can help a business gain a competitive edge over 85% of other industry players and businesses that have same-day delivery capabilities position themselves well to attain twice as much conversion and significant increases in year-over-year sales.
“This new agreement is part of our continued efforts to serve our customers as seamlessly as possible,” says Penny Green, CEO of Yield Growth. “ParcelPal is a great service, and our partnership will lay the groundwork for us to eventually offer same-day delivery service for pain management cannabis topicals and other cannabis products in jurisdictions where they’re legal.”
About ParcelPal Technology Inc.
ParcelPal is a technology-driven logistics company that connects consumers to the goods they love. Customers can shop at partner businesses and through the ParcelPal technology receive their purchased goods within an hour. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.
ParcelPal Website: www.parcelpal.com
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.