Ms. Penny Green reports
YIELD GROWTH ANNOUNCES EXCLUSIVE DISTRIBUTION OF URBAN JUVE PRODUCTS IN GREECE AND CYPRUS BY MELORGANICS
The Yield Growth Corp. signed a letter of intent on June 12, 2019, with Melorganics Canada for distribution of Urban Juve products in Greece and Cyprus.
The LOI (letter of intent) 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," said 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 per cent 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 Mr. Vachliotis (a Greek and Canadian citizen) and John Philpott have proven success in different business ventures. Mr. 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, Mr. Vachliotis has deep ties to Greece and has assembled an experienced staff for Melorganics Hellas, including practising 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.
Mr. Philpott is the chief executive officer of CanAm Physician Recruiting Inc., Canada's premier physician placement firm with over 20 years experience in sourcing, screening, credentialling and licensing North American and international physicians for placement across Canada, United States, Caribbean, Australia, New Zealand and the Middle East. In 2016 Mr. Philpott was approached by one of CanAm client's and become chief executive officer of Canabo Medical Corp. This new start-up 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 fulfilment for medical marijuana. Mr. Philpott 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 centre and a leading patient research database to support the proliferation of medical marijuana products. In the fall of 2017 Mr. Philpott led the executive team through a successful public listing for Canabo. In 2018 Mr. Philpott managed the merger of Canabo with a new Canadian licensed 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 Venture Exchange announced Aleafia as one of the top 50 best-run companies listed on the exchange for 2018.
Mr. Philpott 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, Mr. Philpott and Mr. 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 million people," said Penny Green, chief executive officer of Yield Growth. "Tom A. Vachliotis and John Philpott have the experience to make our launch in Greece and Cyprus a success."
About The Yield Growth Corp.
Yield Growth is disrupting the $4.2-trillion 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, MAC Cosmetics, Skechers, Best Buy, Aritzia, Coca-Cola and Pepsi Corp. 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 on-line beauty community, ipsy, and Urban Juve products will be included in ipsy Glam Bags.
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