VANCOUVER, British Columbia, Jan. 28, 2019 (GLOBE NEWSWIRE) — The Yield Growth Corp. (CSE:BOSS) (C:BOSS) (OTC:BOSQF) (Frankfort: YG3) announces completion of the United States Food and Drug Administration (FDA) compliant tests on human subjects to evaluate the effectiveness of Urban Juve’s proprietary sunscreen formula by determining a Sun Protection Factor (SPF) on human skin of 31.
According to the Skin Cancer Foundation, SPF 30 product blocks 97% of UVB rays. Both the American Academy of Dermatology and the Canadian Dermatology Association advise using a sunscreen with an SPF of at least 30. Urban Juve’s sunscreen formula also passed the FDA broad spectrum test. Sunscreen products that pass the FDA broad spectrum test are allowed to be labeled as “Broad Spectrum”, meaning they protect against both UVA and UVB rays. According to the FDA, skin cancer is the most common cancer in the United States. Current estimates are that one in five Americans are at risk of developing skin cancer in their lifetime. Exposure to natural and artificial ultraviolet (UV) light has a direct impact on a person’s risk of developing skin cancer — despite age or skin type.
Yield Growth subsidiary Urban Juve’s sunscreen contains natural ingredients and is free of petrochemicals, phthalates, propylene glycol, sulfates and parabens. Yield Growth subsidiary UJ Topicals has the rights to infuse this sunscreen formula with Cannabidiol (CBD).
According to Statista, the global sun care market value was approximately $15.83 billion U.S. dollars in 2015, and is forecasted to reach $24.91 billion by 2024.
The SPF evaluation for the Urban Juve sunscreen formula was completed by a fully independent testing facility at a laboratory in New York City, New York, USA, in compliance with FDA rules and regulations.
About The Yield Growth Corp.
The Yield Growth Corp. is dedicated to the rapid and sustainable growth of cannabis and wellness assets. Its directors and officers have experience at multi-billion dollar international companies including M.A.C Cosmetics, Aritzia, Skechers, Best Buy, Future Shop, Pepsi and Coca-Cola. Its key assets are 100% owned subsidiaries Urban Juve Provisions Inc., UJ Topicals Inc., UJ Beverages Inc. and Thrive Activations Inc. Through its subsidiaries it owns formulas to over 60 wellness products, including wellness formulas and beverages, has registered 29 products with Health Canada, has applied for 11 U.S. provisional patents and has established distribution and sales channels in Canada, the U.S. and Italy. It is currently selling products online and through retailers in Canada.
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 and UJ Topicals 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/db4b0028-89e6-49af-a3f2-15ecd5eea934