VANCOUVER, British Columbia--(BUSINESS WIRE)--Glance Technologies Inc. (“Glance”) (CSE:GET | OTCQB:GLNNF | FKT:GJT) partially owned subsidiary Cannapay Financial has announced a name change to The Yield Growth Corp. (“Yield Growth”). Moving beyond payment solutions, Yield Growth is a cannabis asset growth company that is creating high value products and services for the cannabis industry and its key players.
The newly re-launched Yield Growth is cultivating its wholly-owned subsidiary, Juve Wellness Inc. (“Juve”). Juve is focused on the research and development of a modern wellness brand of cosmetic and therapeutic products that can be infused with cannabis properties. The products are inspired by Ayurveda: an ancient and effective medical system that utilizes local, organic herbs and ingredients for healing at the most personal level. Juve aims to help its customers discover their own body bio and will offer personalized products tailored to customers’ unique profiles. Juve will disrupt the wellness space with its contemporary, east-meets-west product offerings, which will include items such as Ayurvedic body oil infused with cannabis and topical formulas designed to relieve chronic pain.
Juve has partnered with holistic and natural health product professionals to develop its products. Juve has recently registered 25 products to Health Canada and has filed provisional patent applications in the U.S. for its formulas and extraction process. Juve anticipates that the first release of products will be available for retail sale in Canada in Q1 of 2019. Yield Growth’s business strategy for Juve includes licensing opportunities both in and beyond Canada – Yield Growth’s experienced management team is actively monitoring government regulation on cannabis in jurisdictions worldwide.
The global legal cannabis industry is expected to reach $31 billion by 20211. In 2018, Canada is expected to be the first G7 country to legalize recreational cannabis nationally. CIBC anticipates the recreational cannabis market to outpace liquor sales, with $6.5 billion in sales forecast in 20202. Yield Growth plans to harvest a significant portion of this market share through continued acquisition and development of cannabis centered assets.
“We anticipate that we will be the first brand focused on the intersection of Ayurvedic principles and legal cannabis to go to market. Licensees will have the option to infuse the Juve Wellness products with cannabis or distribute them without,” said Penny Green, President and CEO of The Yield Growth Corp.
Yield Growth also announced that has completed a two-for-one (2:1) forward split of its common stock. Each shareholder of record at the close of business on June 4, 2018 (the “Record Date”) will receive one additional share of common stock for every outstanding share of common stock held.
Yield Growth intends to push out the common shares to its shareholders via its transfer agent, Computershare Investor Services Inc. Outstanding warrants and options as of the Record Date in Yield Growth will also be adjusted in accordance with the split.
Yield Growth now has approximately 78 million shares of common stock outstanding.
About Glance Technologies Inc.
Glance owns and operates Glance Pay, a mobile payments app for restaurants. Glance licensed the Glance Pay technology to Yield Growth in May 2017 for use in the marijuana financial technology industry. Glance owns 20,900,000 common shares of Yield Growth.
About Yield Growth
The Yield Growth Corp. is an asset growth company cultivating high value companies and brands centered around the legal cannabis industry.
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “may”, “believe”, “thinks”, “expect”, “exploring”, “expand”, “could”, “anticipate”, “intend”, “estimate”, “plan”, “pursue”, “potentially”, “projected”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the ability to develop, and sell the Juve wellness products, protect the intellectual property relating to the Juve wellness products, and the demand for wellness and cannabis products in Canada and internationally. Although Yield Growth considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among other things, risks related to the development, testing, intellectual property protection, sale and demand for the Juve wellness products. Forward-looking information and forward-looking statements are in addition based on various estimates, forecasts and projects as well as expectations, beliefs and assumptions, including, without limitation. Yield Growth cautions investors that any forward-looking information provided by Yield Growth is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
1 “Canada and International Cannabis Markets”, The
Brightfield Group, accessible online at: https://www.brightfieldgroup.com/plans/canada-international
2 “Canada's appetite for legal cannabis could be almost as big as it is for wine, CIBC says”, CBC News, May 9, 2018, accessible online at: http://www.cbc.ca/news/business/cibc-cannabis-1.4653567