EastWest Converts Three Sangster’s Franchise Stores into Corporate Stores Including Plans for Pharmacies
EastWest Continues Building its Footprint for Health Product Distribution Across Canada
VANCOUVER, BC / ACCESSWIRE / November 22, 2018 / Harbour Star Capital Corp. dba EastWest Bioscience (the "Company" or "EastWest") (TSX.V: EAST) is pleased to announce that, in preparation for its acquisition of the Sangster's health products franchise, it has immediately converted three (3) of the Sangster's Health Center Stores ("Sangster's") from franchisee stores into corporately owned stores for the purpose of turning them into Sangster's Health Plus Centers. These new corporate stores are being planned and organized to include pharmacies and medical clinics to prescribe CBD in line with the long term EastWest business plan.
EastWest President and CEO Rodney Gelineau explains, "EastWest and Sangster's both recognize that Canadian health markets are changing. We know that the Canadian public's interest in natural products to promote good health is growing, but people are still required to acquire a large percentage of their health products through the medical system and pharmacy channels."
Through discussions with Sangster's as well pharmacy analysts, EastWest recognizes there is a real opportunity to do a better job of strategically managing the two types of health products. The EastWest plan is to gradually merge natural health products and pharmaceutical products into Sangster's Super Stores which would include a pharmacy and, in the future, medical clinics that will stock, prescribe and sell everything.
"Interestingly, what may be one of the biggest drivers for the merging of the natural health and pharmacy channels is the new cannabis industry which, we believe, is still struggling to devise a way to adequately and seamlessly deliver new cannabis products," continues Gelineau. "EastWest believes Sangster's can be an innovator for a better way of delivering health products."
To help facilitate the Sangster's implementation, EastWest has engaged a strong Retail Advisory Board. This retail power-board will include two experts both with many years of C-Suite management experience, including a senior manager of a retail food franchise chain with 348 stores in Canada and 50 stores in the USA and Mexico, and the other a past senior manager with Canada's largest consumer and food products retailer, Loblaws. EastWest is already achieving strong sales channel penetration with its sales connections to Loblaws and Purity Life, Canada's largest natural health distributor representing over 7000 stores. The expectation of the acquisition of Sangster's and the addition of the such strong Retail Advisory Board aligns perfectly with EastWest's bold 360-vision to become a global giant in the hemp and consumer product space.
Along with the top-notch retail and franchise advisory team, EastWest is working with Sangster's management to create new strategies for existing Sangster's Health Centers. The Company is in discussions with some top Pharmacy consultants to develop the strategies and proposals necessary to implement Sangster's Retail Pharmacy and Clinics Super Stores.
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 202 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
"Rodney Gelineau"
Co-Founder, Chief Executive Officer and Director
For further information, please visit www.eastwestbioscience.com or contact EastWest Bioscience Investor Relations at 1-647-394-7383 or email us at [email protected].
This press release is not an offer of securities for sale in the United States. The securities described in this press release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
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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 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.
SOURCE: EastWest Bioscience
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