VANCOUVER, BC / ACCESSWIRE / June 18, 2019 / EastWest Bioscience Inc. (the "Company" or "EastWest") (TSX-V: EAST) announces that it has signed a distributor agreement with New Zealand Hemp Brokers (NZHB) (www.nzhempbrokers.com), a leading wholesaler and New Zealand's only specialist Hemp Broker with reach into important key markets in New Zealand, Australia, and Asia. NZHB are experts in the distribution, import and export of industrial hemp (iHemp) and hemp products. EastWest will begin shipping Earth's Menu, Natural Pet Science, Chanvre Hemp and Natural Advancement products within the next 2 months with plans to ship CBD products, currently in various stages of formulation and manufacturing, from the United States.
"Partnering with NZHB allows for a strategic opportunity to grow EastWest brands and sales throughout key markets that align with our global expansion strategy. As demand of Hemp and CBD products continues to grow, NZHB's expertise in the space and extensive international reach position EastWest for solid growth in New Zealand, Australia, and South East Asia," says Rodney Gelineau, CEO.
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 entered into 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.
About New Zealand Hemp Brokers
NZ Hemp Brokers was established by Chris Woodney with the goal of growing New Zealand's industrial hemp (iHemp) industry and linking licensed local growers and manufacturers with trusted international buyers.
We share your passion for hemp's time-honoured agricultural tradition and the positive difference it can make as a sustainable farming crop, nutrient-rich food source, and highly versatile fibre for construction, clothing and myriad other textile uses.
From our headquarters in Rotorua, New Zealand, we 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.
We work closely with partner company Kākāriki Hemp Processing and Far North Hemp to provide a one-stop shop for people involved in industrial hemp growing, harvesting, processing and exporting. Our 'seed to sale' approach means we are involved in all stages of the production process and using all parts of the hemp plant, from the roots to the tip.
We offer consultancy services, processing advice and machinery, brokerage to link growers and manufacturers with our extensive international network, and workshops for people interested in hemp as a sustainable and high-value crop. Our online store stocks a growing range of hemp products, from hemp balm and seeds to stock feed and pet food.
NZ Hemp Brokers is licensed by the Ministry of Health to grow, trade in and process industrial hemp. We are registered brokers and are certified in hemp medicine by the NZ Hemp Foundation. Our operations are environmentally sustainable and permitted under New Zealand law.
ON BEHALF OF THE BOARD OF DIRECTORS
EASTWEST BIOSCIENCE GROUP
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.
SOURCE: EastWest Bioscience Inc.