Vancouver, British Columbia
-- September 17, 2019 -- InvestorsHub NewsWire
-- The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is
pleased to announce that on September 14, 2019, it entered into an
agreement with Absolem Health Corp., to acquire a 30% interest in
Absolem. Yield Growth also entered into a consultancy agreement
with Absolem to provide corporate finance and other services to
assist the company with a going public transaction. Absolem has
entered into agreements to acquire all the shares of One Up Pure
Energy Inc.
Figure 1: One Up Pure
Energy Inc., 100% owned by Absolem Health Corp., manufactures
mushroom power pellets called "The Reishi Relax" and "Cordyceps
Power Up."
One Up Pure Energy makes
healthy, all natural plant based ready to eat snacks. It
manufactures mushroom power pellets called "The Reishi Relax" and
"Cordyceps Power Up," both of which have been approved for sale by
Health Canada and the Vancouver Health Authority.
"My passion and goal is to
improve access to healthy edible mushrooms by scaling up One Up
Pure Energy into an international edible mushroom brand," says Ken
Kuiper, CEO of One Up. "As these medicinal mushroom extracts gain
popularity, they are mainly available as powdered extracts,
capsules and drink mixes. We are providing a convenient, to-go,
ready to eat snack product."
The global edible mushrooms
market is expected to grow at a CAGR of 7.95% to grow to US$62
billion by 2023, increasing from US$42 billion in 2018, according
to a report by Research and Markets. Grand View Research reports
that the global healthy snacks
market size is expected to reach US$32 billion by
2025.
"Our research indicates
that edible mushrooms are in a period of high growth," says Yield
Growth CEO Penny White. "Yield Growth intends to add to its
cannabis wellness assets through acquisitions in companies like
Absolem. Edible Mushrooms may experience hyper-growth as the
movement to decriminalize psilocybin (magic mushrooms) grows,
similar to how the popularity of hemp has grown with the
legalization of cannabis. Of great interest to us is how the
business of Absolem can be aligned with legal research and clinical
trials of psilocybin "magic mushrooms." We intend to use our
alliance with Absolem as a launch pad to create assets for legal
psychedelic medicine."
According to The New York
Times, on September 4, 2019 Johns Hopkins Medicine announced the
launch of the Center for Psychedelic and Consciousness Research, to
study compounds like LSD and psilocybin for a range of mental
health problems, including anorexia, addiction and depression. The
center is the first of its kind in the country, established with
$17 million in commitments from wealthy private donors and a
foundation. CNBC says that investors are starting to bet big on
psychedelic medicine with ATAI Life Sciences completing a $40
million round in March 2019 at a $240,000,000
valuation.
According to Wikipedia, the
legal status of psilocybin mushrooms varies worldwide. In many
countries, the substance is prohibited unless authorized for
clinical trial or research purposes.
Yield Growth has agreed to
pay CAD $63,000 for 3,150,000 shares at $0.02 per share which will
amount to a 30% interest in the company. Further capital rounds are
agreed to at limited amounts up to $0.30 per unit. Yield Growth has
also signed an Advisory Agreement to provide various services
including bookkeeping, project management and corporate
communications. Yield will be compensated for its services at cost
plus 25% and will receive a bonus of 500,000 shares if Absolem
achieves a listing on a stock exchange via a going public
transaction within 5 months. Krystal Pineo is a founder, director
and shareholder of both Absolem and Yield Growth.
About The Yield
Growth Corp.
The Yield Growth Corp. is
building & operating hemp, cannabis and other assets in the
$4.2 trillion-dollar global wellness market. The Yield Growth
management team has deep experience with global brands including
Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics,
Skechers, Best Buy and Aritzia. Its all natural hemp skin care
brand, Urban Juve, has signed distribution agreements in Canada,
Columbia, Brasil, Greece and Cypress and through its distributor
network has access to over 8,000 retail locations. Urban Juve has
been featured in UK Vogue and Elle Canada and has an alliance with
ipsy. Yield Growth's Wright & Well has a THC line products
launching in Oregon and a CBD line launching in
California.
Through its subsidiaries,
Yield Growth has over 200 proprietary beauty, wellness, edibles and
beverage formulas for commercialization. It had filed 12 patents
for its extraction method and formulas. Yield Growth also acquires
interests in start ups and provides incubation and other services.
Yield Growth is in 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 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.
