VANCOUVER, BC / ACCESSWIRE / September 5, 2019 / EastWest Bioscience (the “Company” or “EastWest”) (TSX.V:EAST) announces that its joint venture partner Azema Sciences Inc’s (Azema) subsidiary KYBG, Inc. has signed a definitive joint venture agreement with a local Kentucky organic hemp propagator and broker to form Kentucky Extraction and Processing, LLC (KEP).
Thanks to an earlier joint venture between Azema Sciences and EastWest signed in May this year, KEP will provide EastWest and its subsidiaries with a guaranteed supply of high-CBD organic Hemp and CBD as crude oil, distillate and isolate, ready for wholesale and product manufacturing.
EastWest is focused and actively working on updating its extensive catalogue of wellness products for formulation with CBD where it is beneficial. The success of Azema ensures that EastWest will have an ongoing supply of CBD to fulfill its manufacturing requirements for the US and global market.
EastWest Science USA has received the first delivery of full spectrum CBD crude through its joint venture with Azema which the Company will be using in its first production run of CBD infused pet treats.
“Forming partnerships and B2B relationships is at the core of EastWest’s strategy. We are pleased to see the growth of our strategic partners, as their success is success for us also.” states Rodney Gelineau, CEO of EastWest Bioscience.
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.
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