After officially listing on the Canadian Securities Exchange in mid-December, The Yield Growth Corp. (CSE: BOSS) just passed a series of stability and preservative regulations required by Health Canada for a roundup of nine new products.
Each of the nine products are hemp root oil-based, with some of the lineup to be infused directly with CBD or THC.
The new products — including intimate lubricant, lip balm, topical analgesic, sunscreen, and skin exfoliant— will be released through Yield Growth subsidiaries UJ Topicals and Urban Juve.
Between the two subsidiaries and the nine new approved items, Yield Growth currently has a lineup of 22 skincare and wellness products slated for release by April of 2019 in Canada.
While based in Vancouver, the company is also expanding with U.S. operations following the passage of the 2018 Farm Bill.
The bill was signed into law last week by President Trump and legalized industrial hemp growing operations in all 50 states. A provision to remove hemp from the controlled substances list is widely seen as a move towards more relaxed cannabis rules at a federal level in the U.S., even though the bill doesn’t specifically change federal rules towards marijuana.
Yield Growth Chief Executive Officer Penny Green commented:
“With the launch of our Urban Juve products in Canada, the passage of the US Farm Bill couldn’t have come at a better time. We are poised to capitalize on the huge opportunity presented by the US cosmetic and wellness market and will open our ecommerce channel to the US shortly.”
UJ Topicals branded items will soon go up for sale in Oregon through a distribution agreement inked with Nova Paths LLC earlier this month. Under the terms of the agreement, Nova Paths will infuse the products with THC and CBD and net a 25% fee from wholesale revenues in Oregon locations.
With the passage of the Cannabis Act in Canada and the Farm Bill in the U.S., companies have increasingly looked to hemp and marijuana for purposes beyond recreational consumption or medical usage for pain management.
In particular, cannabis is now being mined as a potential source of major new product lines in the health, wellness, and beauty industries, with applications from pain balm to skin and hair products currently in development.
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