VANCOUVER, BC / ACCESSWIRE / April 17, 2019 / EastWest Bioscience (the "Company" or "EastWest") (TSX-V: EAST) is moving rapidly on the recent TSX-V approval allowing EastWest to operate in the USA and announces today its incorporation of EastWest Science USA (EastWest USA), a wholly owned operational subsidiary focussed on CBD consumer products, manufacturing, production and distribution based in Marion County Kentucky, the heart of hemp growing and processing in the USA.
"This initial step is just the first of many strategic operation steps critical to building out of our supply chain and partnership opportunities in the US." states Rodney Gelineau, CEO of EastWest Bioscience. "EastWest USA will be the operational platform for establishing and monetizing EastWest's current consumer product lines as well as our new CBD brands and products. Incorporating EastWest USA in Marion County Kentucky, the heart of hemp country, is ideal for establishing and developing supply chain and direct B2B relationships for our US hemp and CBD products."
In addition to vital oversight, management and localization of the Company's brands into the US, EastWest USA will also play a key role in the manufacture of CBD pet products and cosmetics and the distribution of finished CBD products produced and warehoused at the 18,000sf manufacturing and warehouse facility in Marion County with whom the Company will soon be announcing another important joint partnership venture.
"We are all excited to be moving forward in Kentucky," continues Gelineau. "The Company as a whole feels the both the impact and the urgency of moving forward on the enormous US market opportunities before it."
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 hemp products. EastWest is strategically positioned in mainstream consumer markets with wholistic natural products and has developed distribution channels into mainstream stores and markets in Canada. The Company has a Health Canada licensed, GMP (Good Manufacturing Practices) certified manufacturing facility and produces premium brands offering natural products for a preventive care lifestyle. EastWest 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) Chanvre Hemp - all-natural health and beauty products. The organization will continue to focus on ongoing development of innovative, hemp-based consumer products through advanced science with clean, natural ingredients to complement its current product offerings.
ON BEHALF OF THE BOARD OF DIRECTORS
EASTWEST BIOSCIENCE GROUP
Co-Founder, Chief Executive Officer and Director
TSXV - Symbol: EAST
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.
SOURCE: EastWest Bioscience Group