Passage of U.S. Farm Bill a Major Milestone for EastWest’s Long Term Hemp Strategy

EastWest BioScience Negotiating Major Strategic Hemp and CBD Opportunities.

VANCOUVER, BC / ACCESSWIRE / December 19, 2018 / EastWest Bioscience Inc. (the "Company" or "EastWest") (TSX-V: EAST) is hopeful for an early Christmas present with continuing progress of the U.S. Farm Bill. The federal legalization of hemp in the US, once passed, opens up significant opportunities for EastWest to follow through on its long held strategic plans to market hemp products to the 50 States and beyond.

The U.S. Farm Bill is pivotal to the future of the hemp-cannabidiol industry and it has advanced to within a hair's breadth of becoming law. On Dec. 11, 2018, the Senate voted overwhelmingly in an 87-to-13 vote to approve the $867-billion farm bill. The legislation now heads to the House, where it will be considered before the New Year. President Trump has also expressed his support for the Bill.

"We've been focused on the hemp and CBD side of the Cannabis business since the beginning," says Rodney Gelineau, EastWest's CEO. "The legalization of hemp in the US has been foundational to EastWest's market strategy. Once the U.S. Farm Bill is signed into law the legal barrier restricting our ability operate and sell into the US markets essentially evaporates."

"It's really hard to underestimate the importance of this to our strategy," continues Gelineau. "From the beginning, a critical strategic question was should we run with the others on the THC and marijuana play or stay the course with a more off-the-radar strategy for hemp, and anticipate the long-play for CBD? Even though the past couple of years the marijuana play, especially in Canada, has been more exciting then hemp, our economic and political instincts told us the 2019 legalization hemp and CBD in the US, would be a safer, less red-tape encumbered and more lucrative long-term goal."

"For Canadian cannabis companies, the contrast of a US marijuana market still years away from federal legalization, compared to a now fully legalized US hemp and CBD market, creates significant business confidence. Hemp is going to offer exponential growth for us now and for years to come."

EastWest's hemp-based products including its nutraceutical supplements, food and snacks, pet treats, and body care products now selling in Canada will also have almost immediate market opportunities into the huge national US markets, giving EastWest significant early US market advantage.

The Company is currently negotiating market distribution deals with CBD distributors in the US and with medical distributors and natural health clinics the EU. Also being negotiated is the acquisition of a Kentucky company selling CBD oil and isolates to several CBD product brands and which owns manufacturing and warehousing facilities in the heart of Kentucky's hemp industry.

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.

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.

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.

SOURCE: EastWest Bioscience Inc.