Yield Growth Receives Health Canada Approval for 2nd Hand Sanitizer in Fight Against Coronavirus
April 7th, 2020
Vancouver, British Columbia–(Newsfile Corp. – April 7, 2020) – The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) (“Yield Growth”) is pleased to announce a second hand sanitizer product approval; Urban Juve’s Natural Health Product application for hand sanitizer gel was approved by Health Canada under its new fast track application process.
Yield Growth Receives Health Canada Approval for 2nd Hand Sanitizer in Fight Against Coronavirus
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The approval was granted on April 2, 2020 by Health Canada’s Natural and Non-prescription Health Products Directorate, issuing Product License NPN: 80098154. This product licence authorizes the sale of the hand sanitizer gel. The approval was granted within one week of the application being submitted, consistent with Urban Juve’s hand sanitizer liquid spray, which was approved on March 27, 2020 under Product License NPN: 80097926.
“One of the biggest challenges in getting large volumes of hand sanitizer products to market is sourcing packaging,” says Yield Growth CEO Penny White. “With two different formulas approved, we have more packaging options, which will allow us to complete additional manufacturing runs to better meet the urgent and unprecedented demand for products that limit the spread of COVID-19.”
The Center for Disease Control (CDC) recommends frequent hand cleaning with soap and water for at least 20 seconds in order to protect against the novel coronavirus (COVID-19); and if soap and water are not readily available, it is recommended that individuals use a hand sanitizer with at least 60% alcohol. Homemade products are not advised, and it is recommended that consumers visit the Health Canada website to learn which products are approved. Both Urban Juve hand sanitizer formulas are listed as approved.
“Urban Juve is scheduled to start production next week of our hand sanitizer spray,” added White. “We are eager to roll out these new products which allow Yield Growth to be part of the solution, as well as leveraging our experience in producing high-quality, natural personal care products – it’s a natural extension of our expertise.”
As Urban Juve increases inventory production it plans to make the hand care products available through its retail pharmacy network and Amazon Prime. It will also donate some inventory to health care workers on the front lines of the coronavirus pandemic.
Urban Juve hand sanitizing gel is a unique blend of ingredients and contains 65% Ethyl alcohol, consistent with Health Canada guidelines.
“Many people experience hand dryness or even cracking with heavy use of alcohol sanitizers. To help reduce this, we have created our formula with a multitude of protective, moisturizing and nourishing ingredients,” said Bhavna Solecki, Yield Growth Director Of Product Research. “This includes aloe vera extract for hydration, witch hazel for its anti-inflammatory and anti-viral properties, and skin-protecting essential oils to keep hands moisturized and fresh. Urban Juve products are designed to nourish, heal and hydrate the skin.”
The sanitizers contain the highest quality natural essential oils including: oregano, thyme, tea tree, cedar, eucalyptus, blood orange and lemon, all of which are known for their disinfecting capabilities.
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.
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.
Investor Relations Contacts:
Penny White, President & CEO
Kevan Matheson, Investor Relations
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54199
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