EastWest Bioscience Announces the Appointment of Carlo Bevilacqua as President of Sangsters

Penticton, BC / October 21, 2020 / EastWest Bioscience (the “Company” or “EastWest”) (TSX.V: EAST) EastWest is pleased to announce the appointment of Carlo Bevilacqua as President of Sangsters Health Centre’s, its National Chain of 17 Wellness Stores.

Carlo comes from an entrepreneurial family background coupled with an extensive professional career of over 20 years of leading national retail, C.P.G. and franchise brands in Canada. Carlo has an impressive track record working in senior-level management positions and has led national growth & expansion with companies such as Cara Operations (Recipe Ltd), Sodexo, Target , LiveWell Canada, Canopy Growth Retail Brands and Apollogreen. Throughout his career, Carlo was responsible for national operations including leadership development, merchandising,  supply chain, retail partnerships, C.P.G. manufacturing, brand marketing, business development, HR and new store openings. Carlo has successfully opened over 90+ stores across every province in Canada and has extensive experiences and a passion for natural health, science and wellness. 

EastWest would like to thank Ciska Asriel who has taken on the additional role as Sangsters Interim President, having taken over the leadership to stabilize the operations of the chain from previous management. Ciska Asriel will continue in her role as Chief Operating Officer of EastWest Bioscience. 

Sangsters is now positioned for growth with a seasoned leader who can bring Sangsters forward in the post-covid space that the world finds itself in.

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.

Sangster’s Health Centre’s is an award winning, Canadian, natural health retail franchise with over 40 years of legacy in the health and wellness industry. Sangster’s goal is to provide natural choices through quality products and educated advice for a healthy lifestyle. Sangster’s Health Centres occupies a unique position in the industry, the stores provide vast knowledge and safe natural remedies for the prevention and treatment of disease and ailments. Sangster’s introduction and development of over 202 exclusively labeled products (vitamins, mineral, herbs, proteins, natural body care and organic foods) catapulted Sangster’s name and product into a large number of Canadian households.  From a solid base in Saskatchewan, Sangster’s has become a national brand name with franchise stores located across Canada.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

EASTWEST BIOSCIENCE GROUP 

“Rodney Gelineau” 

Co-Founder, Chief Executive Officer and Director 

TSXV – Symbol: EAST

Company Website: www.eastwestbioscience.com

Contact: Rodney Gelineau on 1-800-409-1930 or investors@eastwestscience.com.

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.

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