Yield Growth Corp. (CSE:BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce it signed a letter of intent on June 12, 2019 with Melorganics Canada for distribution of Urban Juve products in Greece and Cyprus.
Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (FSE: YG3) is pleased to announce it signed a letter of intent on June 12, 2019 with Melorganics Canada for distribution of Urban Juve products in Greece and Cyprus.
Figure1. Yield Growth to expand into Greece and Cyprus
To view an enhanced version of Figure 1, please visit:
The LOI contemplates that Melorganics Canada through its subsidiary Melorganics Hellas will act as the exclusive retail distributor and non-exclusive e-commerce distributor for Urban Juve products in Greece and Cyprus. To maintain exclusivity 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 has retained Biorius SPRL to register its Urban Juve products in the European Union, and Melorganics has agreed to sign the requisite mandate with Biorius for distribution in Greece in accordance with European Regulations. 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.
“We are very fortunate to enter the Greek and Cypriot market with fantastic products, the potential is tremendous. Both John and I are very excited and thrilled to be associated with Yield Growth Corp,” says Tom Vachliotis Co- Managing Director of Melorganics Canada.
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 are investing in Greece. Not only is Greece enjoying surging foreign and local investments, the country legalized cannabis for medical reasons in 2018, thus creating opportunities for the cannabis industry.
Melorganics founders Athanasios (Tom) Vachliotis (a Greek and Canadian Citizen) and John Philpott have proven success in different business ventures. Vachliotis is a result-driven brand and international marketing expert who has developed global marketing and business development strategies for a wide range of industries and multinationals. Fluent in Greek and English, Vachliotis has deep ties to Greece and has assembled an experienced staff for Melorganics Hellas, 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 with companies such as Grupo Aboca SA. and Beauty & Diet AE.
Philpott is the CEO of CanAm Physician Recruiting Inc., Canada’s premier physician placement firm with over 20 years’ experience in sourcing, screening, credentialing and licensing North American and International physicians for placement across Canada, USA, Caribbean, Australia, NZ and the Middle East. In 2016 John was approached by one of CanAm client’s and become CEO of Canabo Medical Corp. This new startup Cannabis Medical Clinic was assessing patients for the use of medical cannabis in order to treat chronic conditions, with the objective of becoming a leading clinic operation in Canada for the education of physicians, diagnosis and prescription fulfillment for medical marijuana. John scaled the company from one Toronto clinic with two part time physicians to 24 clinics across Canada, over 80 recruited physicians supported by prescribing policies, a national call center and a leading patient research database to support the proliferation of medical marijuana products. In the fall of 2017 John led the executive team through a successful public listing for Canabo. In 2018 John managed the merger of Canabo with a new Canadian License Producer Aleafia Health Inc in a transaction valued at $40 million resulting in a combined operation with a market cap over $200 million. In 2019 the TSX.V announced Aleafia as one of the top 50 best run companies listed on the exchange for 2018.
John has become a leading expert in the field of medical marijuana products, the regulatory process and the supply channel from licensed producers to end-user patients. Together, Philpott and Vachliotis have the deep expertise necessary for success in Greece and Cyprus.
“Registering our products for sale with the European Union will give us access to an additional consumer base of 500,000,000 people,” says Penny Green, CEO of Yield Growth. “Tom A. Vachliotis and John Philpott have the experience to make our launch in Greece and Cyprus a success.”
1944459 Ontario Corp. dba Melorganics Canada and its subsidiary in Greece, Melorganics Hellas plan to enter the Greek and Cypriot markets with a full line of CBD products including soft drinks, cosmetics, and electronic vaporizers and their consumable counterparts in order to reduce the harm from traditional combustible tobacco and cannabis products. The company is in the process of securing exclusive rights and strategic alliances with leading companies both in Greece and Canada; companies that are focused on the development of unique health products and nutraceutical utilizing cannabis and botanical oils. The Hellenic Republic (Greece) is a full member of the European Union. In November 2018 Greek Parliament passed into law the production, manufacturing and sales of medical products containing cannabis.
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.