LEBANON, KN / ACCESSWIRE / October 30, 2019 / EastWest Bioscience (the "Company" or "EastWest") (TSXV:EAST) announces that, further to its News Release on July 23rd, the Company has completed the first production run of its CBD Pet Treats for the US Market. The premium CBD used in these CBD pet treats was supplied and produced through its joint venture partnership with Azema Sciences at its facility in Lebanon, Kentucky, USA.
These CBD Pet Treats are value added products, leveraging the existing unique formula currently being sold throughout the Canadian Market and adding them with premium full spectrum CBD produced from its Lebanon, Kentucky Facility.
Initially, the +CBD Chill Dog and +CBD Quick Cat will be sold through the company's Kentucky based distribution arm, EastWest Science USA and it is set to be shipped out late November 2019.
"The company has used its initial capital to acquire all of the necessary assets to capitalize on manufacturing aspects and focus on the finished products of the fully integrated model. We will continue to take advantage of the oversupply of the raw material and focus on manufacturing and consumer products for our customers as well as for manufacturing for private label customers in the US", says Rodney Gelineau, CEO of EastWest Bioscience.
EastWest's product development and sales strategy for the CBD pet treats in the USA will mirror the Company's Canadian sales strategy: gain brand awareness and establish distribution relationships for broad product distribution. As it establishes relationships with various distributors to sell the Company's unique and innovative hemp-based products, the Company is readying to expand each product to +CBD.
The company's US Sales Team continues to fill its sales funnel in the USA. The products have been received very favorably by large independent retail chains in the US that wants to ensure that its vendors are in total control of the source material used in the products all the way to the shelf.
About Natural Pet Science
Natural Pet Science is a hemp-based pet brand producing, manufacturing and distributing premium health products for cats and dogs. The brand continues to innovate and produce high-quality hemp-based alternatives to support the preventive care of pets. For more information on Natural Pet Science, please visit www.naturalpetscience.com.
About EastWest Bioscience Group
EastWest Bioscience is a vertically integrated wellness company with the infrastructure to become a global giant in the Hemp & CBD consumer health market. Since it was founded in 2016, EastWest continues to grow as a high-quality producer, manufacturer and distributor of multiple lines of premium health and hemp products. EastWest currently has more than 200+ NPN's in its stable of products.
EastWest's consumer product lines are divided into four distinct brands: 1) Natural Advancement - natural biopharmaceutical health supplements; 2) Earth's Menu - all-natural hemp superfoods; 3) Natural Pet Science - pet food and pet supplements; and 4) ChanvreHemp - all-natural health and beauty products.
In Canada, EastWest has a 34,000 Sq. Ft, Health Canada-licensed, GMP (Good Manufacturing Practices) - certified manufacturing facility and produces premium nutraceutical brands, offering natural products for a preventive care lifestyle. EastWest and Benchmark Botanicals (BBT-CSE) also have a Joint Venture Intent to accelerate acquisition of Processor, Analytical and Research and Development licenses under the Cannabis Act in EastWest's Penticton facility. These three classes of the Cannabis Act license will allow Benchmark and EastWest to build out an extensive extraction, laboratory, and research facility at EastWest's Health Canada Certified facility.
In the USA, EastWest USA has a Joint Venture with Azema Sciences, securing for EastWest first rights on Azema's output of bulk CBD and finished CBD products manufactured, and which are ready for sale in the USA and globally. EastWest Science USA ("EastWest USA"), EastWest's US operating division, will be the preferred distributor for Azema's finished goods. These finished products will include CBD creams, tinctures and salves which are products not currently in EastWest's catalogue. Additionally, EastWest will have first right of refusal to all potential opportunities relating to Azema's Kentucky based CBD processing facility. EastWest currently has TSX Approval for sale of its consumer products in 21 US States.
EastWest's international expansion continues with reach into important key markets in New Zealand, Australia, and Asia through a distributor agreement with New Zealand Hemp Brokers. Headquartered in Rotorua, New Zealand, NZ Hemp Brokers have quickly grown to become one of the country's most trusted industrial hemp wholesalers, and New Zealand's only import/export broker specialising in hemp products. NZ Hemp Brokers is licensed by the NZ Ministry of Health to grow, trade in and process industrial hemp, are registered brokers and certified in hemp medicine by the NZ Hemp Foundation.
ON BEHALF OF THE BOARD OF DIRECTORS
EASTWEST BIOSCIENCE GROUP
"Rodney Gelineau"
Co-Founder, Chief Executive Officer and Director
TSXV - Symbol: EAST
Company Website: www.eastwestbioscience.com
Contact: Nicholas Vincent - Investor Relations on 1-800-409-1930 or [email protected].
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms and conditions of the Acquisition. Forward-looking statements are necessarily based upon a number of estimates 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 factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE: EastWest Bioscience Group