InnerScope Hearing Technologies (OTCQB:
INND) Establishes a Distribution,
Warehousing, and Manufacturing
Agreement in
Canada and the United States with
EASTWEST BIOSCIENCE (TSX.V:
EAST)
InnerScope and EASTWEST BIOSCIENCE, a Canadian public
company, have entered into an Agreement
for both companies to
establish distribution and marketing
rights to include warehousing and
distribution facilities based in Canada and
the United States.
ROSEVILLE,
CA.,/Vancouver,
B.C., Canada -- November 6, 2019 -- InvestorsHub NewsWire
-- InnerScope Hearing Technologies
Inc.[SK1] (OTCQB:
INND) ("InnerScope") a manufacturer and Direct-to-Consumer
("DTC") distributor/retailer of FDA-Registered Hearing Aids,
Personal Sound Amplifiers Products ("Hearing
Products"), Hearing Related
Treatment Therapies, Doctor-Formulated
Dietary Hearing Supplements and proprietary CBD Oil ("Hearing
Health Products") (collectively "Hearing Product
Portfolio"), has signed an
Strategic Alliance & Distribution Agreement (the "Agreement")
with EASTWEST BIOSCIENCE INC.
("EASTWEST"),
a
Vancouver,
B.C., Canada public
company listed on the TSX
Venture,
(TSX.V:
EAST) and a manufacturer/distributor/retailer of a
variety of health and wellness products ("Wellness
Products").
The
Agreement gives both
InnerScope and
EASTWEST non-exclusive
distribution and marketing
rights for each party's
products. The Agreement includes
warehousing
and
distribution facilities for InnerScope's
Hearing Product Portfolio based in
Canada and EASTWEST's
Wellness Products based in the United States. The Agreement
significantly expands InnerScope’s size of its market reach and
brand awareness within the Canadian Market and new international
distribution channels.
The
Agreement gives EASTWEST the right to
distribute
and
market InnerScope's
affordable Hearing Product Portfolio through
its
well-established Canadian SANGSTER'S Health
Centre retail
chain locations and other
North America/global sales/distribution channels.
The
Agreement also gives InnerScope the right to distribute
and
market EASTWEST's Wellness
Products as part of its
product offering through its own
multiple sales/distribution channels, including Walmart.com,
Sears.com, Kmart.com, contracted
pharmacies and other
retail stores, as well as its
eCommerce sales platforms.
InnerScope
intends to initially
start shipping
its
fully
automated (unattended) Point of Sale Hearing
Screening Retail Kiosks ("Hearing
Kiosks") and its Hearing Product Portfolio (collectively "Hearing
Kiosks and Hearing Products") to EASTWEST for its SANGSTER'S Health Centres
retail
locations
across
Canada prior to
the end
of the calendar year. InnerScope's
unattended Hearing Kiosks provides the public
FREE,
EASY & CONVENIENT access to a quick 2-minute self-administered
hearing-screening test as well as bringing
awareness to the multiple health and cognitive issues caused by
living with untreated hearing loss. The Hearing Kiosks are also
designed to promote in-store or on-line purchase of InnerScope's
Hearing Product Portfolio.
InnerScope
has
also
contracted the
manufacture of its three proprietary
Doctor-Designed & Formulated Nutritional Dietary Hearing
Supplements with Orchard Vale Naturals Ltd., EASTWEST's Health
Canada and Good Manufacturing
Practices ("GMP")
Certified
manufacturing division, which produces high-quality natural health
supplements and vitamins for Wellness
companies across Canada.
InnerScope's
"Nutrition for the Ears" science-based hearing health formulas
focus on Nutritional and Oxidative Stress Management for
Maintaining Hearing Health. The first
Manufacturing Purchase Order has been received for the
USA
market and EastWest
will
assist InnerScope in applying for the necessary Natural Product
Numbers ("NPNs") for
InnerScope to
sell its
Nutritional Dietary
Supplements for the Canadian Market.
InnerScope
also
intends to purchase
CBD
products
from EastWest
Science
USA and its CBD Joint Venture with Azema
Sciences
based in Lebanon, Kentucky, USA. InnerScope and
EastWest
Science
USA will begin formulating CBD-based Natural Dietary
Hearing Supplements.
According to a Study released
on August 21, 2019 in Health Reports published by the
Health Analysis Division of Statistics Canada, more than half of
Canadians between the ages of 40 to 79 have at least a mild hearing
loss, but 77% percent of
them don't realize it. That means
13 million
Canadians currently have
unperceived hearing
loss. The
study
suggests proactive screening maybe beneficial
for early identification
and treatment of hearing loss could help prevent the development of
social isolation, depression, lower quality of life and other
consequences of untreated hearing loss.
Moreover,
the study's
conclusion addressed
that becoming aware of
hearing loss is a process, and regular screening is one strategy
that was proposed to help reduce unperceived hearing loss
and
regular screening
could lead to earlier detection and intervention that could
ultimately improve the quality of life of those experiencing
hearing loss.
Rodney Gelineau, Co-founder
& CEO of
EastWest
BioScience
Inc.
(TSX.V:
EAST) commented,
"As a vertically
integrated wellness company, we are always looking to
bring
premium products and/or
services to the market
that
support
preventative healthy
lifestyles for
people.
InnerScope, with
its proactive approach to
preventative hearing healthcare along with
its
Hearing Products and
Hearing Health Products, is a
good fit for EASTWEST. We are thrilled to
have partnered with InnerScope in both manufacturing
and product distribution, together we
will make a positive and
significant impact on the consumer health market."
"We are excited about the Agreement
with EASTWEST, especially with InnerScope
establishing a Canadian distribution facility with EASTWEST in
Penticton, B.C., for its Hearing Product Portfolio,
said Matthew Moore, CEO of InnerScope
Hearing Technologies. "EASTWEST as a manufacturer
and distributor of Wellness Products with partners, distributers
and customers around the world, we believe this partnership with
EASTWEST will provide InnerScope with new opportunities to
distribute in many international markets by
utilizing EASTWEST distribution network, starting with
Canada. InnerScope is well positioned
and is anticipating to immediately start distributing its
Hearing Product Portfolio and deploying its Hearing
Kiosks under the terms of the Agreement in the upcoming weeks to
begin to help the millions of hearing
impaired Canadians."
About InnerScope Hearing Technologies (OTCQB:
INND)
InnerScope Hearing
Technologies (OTCQB:
INND) is a rapidly expanding consolidator of the hearing aid
industry. Management is applying decades of profitable industry
experience and technology to an antiquated and disjointed industry,
unlocking scale and efficiency, which will serve
all
of InnerScope's
stakeholders. Its direct-to-consumer model is revolutionizing the
industry with its Walmart.com,
Sears.com
and
Kmart.com
relationship
representing a paramount shift in the consumption of hearing aids
by the hearing impaired.
In
addition, InnerScope
plans to
continue to open, acquire, and operate a physical chain of
audiological and
retail hearing aid clinics. InnerScope's
mission
is to serve approximately 1.2 billion people around the globe that
are suffering with 25db or greater hearing loss across the entire
hearing impaired vertical from R&D and manufacturing through
direct consumer sales and services. For more information,
please visit: www.innd.com. For the Most
Up-to-Date information about InnerScope Hearing Technologies
(OTCQB:
INND), please visit and follow our Official Twitter account
@inndstock
Page. https://twitter.com/inndstock
About EastWest Bioscience Group (TSX.V:
EAST)
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+ NPNs in its stable of products.
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. 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 CBD
consumer
products in 21 US States.
About Sangster's Health Centres
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) helped catapult 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.
For more
information, please visit: https://sangsters.com
About Orchard Vale Naturals
Located
in Penticton B.C., Orchard Vale Naturals
Ltd.,
manufactures vitamin,
mineral, herbal and other supplements, offering
batch run
manufacturing services with low minimum order quantities for third
party distributors of nutraceuticals, as well as producing private
label products for Sangster's Health Centres.
Safe Harbor
This news
release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, that are
intended to be covered by the "safe harbor" created by those
sections. Any statements that are not historical facts contained in
this press release are also "forward-looking statements" as that
term is defined under the Private Securities Litigation Reform Act
of 1995 (PSLRA). Such statements may be identified by words such as
"expects," "plans," "projects," "will," "may," "anticipates,"
"believes," "should," "intends," "estimates," and other words of
similar meaning. Such forward-looking statements are based on
current expectations, involve known and unknown risks, a reliance
on third parties for information, transactions or orders that may
be cancelled, and other factors that may cause our actual results,
performance or achievements, or developments in our industry, to
differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from anticipated results include risks and uncertainties
related to the fluctuation of global economic conditions, the
performance of management and our employees, our ability to obtain
financing or maintain contractual relationships with vendors and
customers, competition, general economic conditions and other
factors that are detailed in our periodic reports filed with the
Securities and Exchange Commission ("SEC"). We intend that all
forward-looking statements be subject to the safe-harbor provisions
of the PSLRA, Securities Act and Securities Exchange
Act.
Contact
InnerScope Hearing
Technologies,
Inc.
Investor
Relations
Info@innd.com
916-218-4100
www.innd.com
For the
Most Up-to-Date information about InnerScope Hearing Technologies
(OTCQB:
INND), please visit and follow our Official Twitter account
@inndstock
Page.
https://twitter.com/inndstock
Walmart.com
Sears.com
Kmart.com
Point of Sale Hearing
Screening Retail Kiosks
Study: Unperceived hearing
loss among Canadians aged 40 to 79
EASTWEST BIOSCIENCE INC.
SANGSTER'S Health Centres