Vancouver, British Columbia, Canada — August 8, 2019 — OTC PR WIRE — The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) is pleased to announce its second quarter investor highlights. Over the past several months, the company has undertaken several initiatives to increase its reach and build valuable infrastructure to support future growth.
Brand and Marketing Highlights:
Q2, 2019 Financial Highlights:
In the first half of fiscal 2019, Yield Growth its total assets by 133% to $6.1 million from November 30, 2018 to May 31, 2019. This included an increase in marketable securities as proceeds from licensing and consulting revenues, additions of intangible assets in product formulas and technology, and certain working capital assets including prepayments and inventory to be deployed in the operations of its growing business.
Revenues were from services offered through Thrive, licensing of formulas and brands and Urban Juve product sales. Yield Growth realized revenue of $1,176,629 and $1,977,128 for the three and six months ended May 31, 2019 as compared to $190,116 and $1,998,929 for the same periods of the prior year. Revenues in Q2 2019 increased by 47% from Q1 2019 and increased by 519% over the same period from the previous year.
Consulting revenue was $71,133 and $780,372 for the three and six months ended May 31, 2019 as compared to $190,116 and $198,929 respectively for the same periods of the prior year.
During the three months ended May 31, 2019, Yield Growth signed and delivered a licensing agreement with Antler Retail which generated revenue of $1,000,000 for the three months ended May 31, 2019.
Licensing and product sales revenue also included sales of products on the Company’s ecommerce website and through retail locations in Canada. As Yield Growth continues to develop our Urban Juve product distribution internationally, it anticipates to fulfill the following orders in the next six months:
For the 3 and 6 months ended May 31, 2019, Yield Growth dedicated resources on building corporate and brand assets, including developing multiple product pipelines through formulation and testing. Assets increased by 133% to $6.1 million. Liquid assets also strengthened with current ratio improved from 3.3 at November 30, 2018 to 4.1 at May 31, 2019.
The company incurred a loss of $4.1 million and $7.9 million for the 3 and 6 months ended May 31, 2019, which included non-cash items of $1.9 and $2.6 million, respectively. At the current stage, Yield Growth intends to continue to invest in developing brand and product assets, manufacturing of inventory, and marketing and distributing its products around the globe.
Detailed Q2, 2019 Financial Statements and Management Discussion and Analysis can be found on SEDAR.
Yield Growth is oversubscribed for its financing announced August 5, 2019 of and is today closing the financing for approximately $1,735,000 of capital.
About The Yield Growth Corp.
The Yield Growth Corp. develops, manufactures and distributes cannabis and hemp infused product brands Urban Juve and Wright & Well and has a catalogue of over 200 wellness and beauty formulas. It intends to disrupt the international wellness market, which is a $4.2 trillion global economy, according to the Global Wellness Institute, by connecting ancient healing with modern science and technology. Its 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. Yield Growth serves mainstream luxury consumers who seek sophisticated wellness products. Its flagship consumer brand, Urban Juve, has proprietary, patent-pending extraction technology and has 12 patents pending. Yield Growth is building sophisticated international distribution channels and has multiple revenue streams including services, licensing 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.