VANCOUVER, BC / January 3, 2019 / EastWest Bioscience (the “Company” or “EastWest”) (TSX-V: EAST) announces the appointment of an exceptional team of retail advisors effective January 1, 2019, an active retail advisory board (the “Advisory”) to help with the next stage development of EastWest’s retail model, product development, and the recently acquired Sangster’s Health Centres (“Sangster’s”).
The board will work with the management of EastWest and Sangster’s to add strategic strength to Sangster’s management and the Company’s product development and distribution. The Advisory has experience including franchise development, corporate and franchise finance, retail management for both brick and mortar stores and on-line platforms, as well as top-tier Canadian consumer markets experience. The Advisory will be instrumental in developing the critical infrastructure, personnel and management resources to take the iconic Sangster’s brand to a new level of Sangster’s Health Superstores. The long-term vision for Sangster’s is the development of proposed medical clinics. These are intended to pave the way for Sangster’s to license and sell pharmaceutical products as well as participate in the medical marijuana market with primarily CBD-infused products.
Although the board may be expanded in the future, the current Advisory is expected to include Steve Langford, Helen Langford, and Thomas Kim, each with strong but unique retail and multi-branch store experience.
Steve Langford: Mr. Langford has worked in the large chain food and consumer retail business for most of his career. A few highlights of his career include in senior management of the Loblaw Companies from 1986 to 1993 where he managed teams of management and was responsible for the procurement of over $1 billion worth of goods for five different store brand lines. He was also a key strategist behind the development Loblaw’s President’s Choice and No Name Products brands. In 1996 he became President and CEO of BC Hothouse Foods, a large greenhouse, where he expanded broker networks, negotiated new business globally and grew sales 140% to $150 million in just 2 years. In 2003, he joined Prism Income Fund as chief purchasing officer, responsible for supply chain and merchandising for 400 KFC and 100 Taco Bell restaurants in Canada. In 2008, he became Prizm’s President and revamped operations to focus on profitability and guest experience developing new products, market promotions and media plans.
Helen Langford: Ms. Lanford has worked in large chain food and restaurant chains for over 20 years including senior management at Boston Pizza, which has over 300 locations in Canada, USA and Mexico. She is a multi-faceted senior executive experienced in leading organizations and delivering value added change to meet new consumer/customer demands. She has extensive experience in contract negotiation, supply chain management, quality assurance, new product development and commercialization within the food and foodservice industries.
Thomas D. Kim: Mr. Kim has 22-years experience as senior management within Canadian wealth management companies as well as key entrepreneurial experience within his family business of multiple retail store operations in diverse sectors. The family operations include convenience and grocery stores, retail gasoline stations, Canada’s largest Dairy Queen franchise, as well as real estate investment, development and management with over 200 total employees. Mr. Kim is a wealth company manager with deep multi-branch experience including positions at:
EastWest Future Plans
EastWest will continue to develop its Superstores concept and plans to convert its corporate stores into Sangster’s Super Centres. This Superstore concept anticipates the integration of health products stores and pharmacies into clinical models designed to take advantage of the expected changes of sales and distribution of CBD health products.
EastWest is also pursuing other major acquisitions that will further expand EastWest’s revenues and distribution footprint and will be updating markets and shareholders with additional revenue streams as part of its vertically integrated model.
About EastWest Bioscience Group
EastWest Bioscience is a seed-to-sale organization that offers world class manufacturing and premium hemp-based consumer goods. Since it was founded in 2016, EastWest continues to grow as a high-quality producer, manufacturer and distributor of multiple lines of premium hemp products. EastWest is strategically positioned in mainstream consumer markets with wholistic natural products and has developed distribution channels into mainstream stores and markets in Canada. The Company has a Health Canada licensed, GMP (Good Manufacturing Practices) certified manufacturing facility and produces premium brands offering natural products for a preventive care lifestyle. EastWest 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) Chanvre Hemp – all-natural health and beauty products. The organization will continue to focus on ongoing development of innovative, hemp-based consumer products through advanced science with clean, natural ingredients to complement its current product offerings.
About Sangster’s Health Centres
Sangster’s Health Centres occupies a distinguished position in the Canadian natural health products and natural health industry in Canada. Founded in 1971, Sangster’s stores and people have been providing their customers knowledge and hundreds of product remedies for the safe, natural prevention and treatment of disease and ailments for almost 50 years. Sangster’s has introduced and developed over 200 exclusive Sangster’s products (vitamins, mineral, herbs, proteins, natural body care and organic foods) putting the Sangster’s name and branded products into thousands of Canadian households. Today, Sangster’s continues to grow as a national brand name with franchise stores located across Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
EASTWEST BIOSCIENCE GROUP
Co-Founder, Chief Executive Officer and Director
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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 several 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.