VANCOUVER, British Columbia, Dec. 31, 2018 (GLOBE NEWSWIRE) — The Yield Growth Corp. (CSE:BOSS) announces that its proprietary sunscreen formula has passed the United States Federal Drug Agency (FDA) broad spectrum test which provides a clinical vitro measurement to confirm the ability of the product to perform against both ultraviolet A (UVA) and ultraviolet B (UVB) radiation with a Sun Protection Factor (SPF) of 30.
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. 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.
Yield Growth subsidiary Urban Juve’s sunscreen contains mainly 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.
Urban Juve has completed initial SPF testing for its upcoming sunscreen product at a SPF testing laboratory that is FDA-qualified in compliance with regulations and standards for sunscreen performance testing. In addition, using human subjects, the test protocol is being utilized to determine SPF effectiveness and performance. Initial results from testing confirms an SPF factor of 30 for the Urban Juve sunscreen formulation. The testing procedure was conducted in conformance with FDA requirements for sunscreen product performance testing. The testing laboratory is now following a standard test protocol which prescribes 10 human subjects and the goal of the test is to quantitatively measure SPF protection value of the product. The lab has completed testing with 2 of 10 subjects. The results from the remaining 8 subjects will be available in early 2019.
All products developed for over-the-counter sales in the U.S. and claiming SPF values are regulated by the FDA. Urban Juve intends to launch its sunscreen product in the U.S. in 2019.
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. and Thrive Activations Inc. Through its subsidiaries it owns formulas to over 50 wellness products, has registered 26 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.
Kristina Pillon, Investor Relations
Penny Green, Director, President & CEO
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.