EastWest Bioscience to Enter the People's Republic of China with Its Full Line of Hemp-Based Products
Thursday, August 15, 2019 10:46 AM
VANCOUVER, BC / ACCESSWIRE / August 15, 2019 / EastWest Bioscience (the “Company” or “EastWest”) (TSXV:EAST) announces that it is in the final stages of obtaining it’s Business License to sell products into the People’s Republic of China through a strategic new partnership with Diverse Global Service (DGS), based in Chengdu Area of China (Sichuan) Pilot Free Trade Zone, who are both EastWest’s consultants and brokers. Chengdu has a diverse economy highlighting the food industry, IT and automotive manufacturing. It is one of the most important economic centers in Western China.
Chengdu Qingbaijiang Railway Port Area, one of the two primary areas of the Chengdu Area of China (Sichuan) Pilot Free Trade Zone, will prioritize developing port services for international commodity distribution, de-consolidation exhibition, bonded logistics, vehicle import and financial services. The area is becoming a strategic fulcrum of international trade and a corridor which connects inland China with the Belt and Road Area. The Belt and Road Initiative (commonly known as The New Silk Road) is a global development strategy adopted by the Chinese government involving infrastructure development and investments in 152 countries.
“Entering the People’s Republic of China has always been part of the global expansion strategy for EastWest Bioscience. Partnering with Diverse Global Service allows milestones to be reached rapidly and efficiently. We are looking forward to working with DGS to implement the long-term sales goals of our Hemp-based products.” says Fanika Jovanovic Perika, Global Business Development Lead.
About Diverse Global Service
Founded in 2017, Diverse Global Service is a company dedicated to helping China connect to the world at large. With its rapidly developing and powerful economy, China is a country that commands the attention of the entire world. The diversity of the cultural, political and legal frameworks of different countries make it difficult for even the most established businesses to navigate new business initiatives. Diverse Global Service exists to protect your interests and help your company prosper.
Diverse Global Service, is headquartered in Chengdu, located right in the middle of the New Silk Road. It is our quest to provide guidance and help for the global business community to navigate the new “Economic Belt and Road”.
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 Hemp 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
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.
Neither 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.
SOURCE: EastWest Bioscience Inc.