09:42 AM EST - The Yield Growth Corp. : Announced it has entered into a definitive agreement with Bhavna Solecki and Vivek Taneja to purchase eight wellness beverage formulas designed to be infused with CBD and THC, in addition to a capsule product intended to treat hangovers. The formulas have been developed to offer various health benefits, including an energy boost, hangover treatment, and formulas to boost brain function, reduce anxiety, improve immunity, remove toxins and reduce inflammation. The formulations were developed in India based on Ayurvedic medicine using botanicals, fruit extracts and spices. Bhavna Solecki is a natural health practitioner and is engaged in research in Ayurvedic science. She has been involved in creating and developing products for Yield subsidiary Urban Juve. Vivek Taneja is an engineer with over 25 years of experience in the beverage industry developing processes for Coca-Cola, Nestle and other beverage companies. Pursuant to the agreement, Yield has agreed to pay the vendors $100,000 to acquire the assets, payable in 200,000 shares and 200,000 warrants to purchase shares at $0.60 per share for one year. Additional compensation will be paid for filing of a provisional patent and passing stability and preservative testing and commercial launch of the products. In addition, the vendors are entitled to a 2% royalty of net revenues. The Yield Growth Corp.
shares BOSS:CNX are trading off 3.8 percent at $0.38.
