ELSE NUTRITION HOLDINGS INC.
(BABY)
(BABYF)
(0YL.F) ("Else" or the
"Company"), announces it will introduce its
first-ever Ready-To-Drink (RTD) products in the form of Kids
Nutritional Shakes in Vanilla and Chocolate flavors. These will be
unveiled at the upcoming Natural Products Expo East in September
2023 at booth 2238. This debut marks the company's significant
expansion from its successful powdered product range into the
larger, fast-growing RTD market.
Leveraging the impressive performance of their
powdered nutritional drinks and protein shakes for kids, which
emerged as the fastest-growing products in the “Infant Formula
& Toddler Nutrition Drink” category in the natural channel in
2022, Else Nutrition is now taking a significant step into the
larger RTD market, capitalizing on their acclaimed quality and
plant-powered nutrition.
The Kids Nutrition market revenues
were estimated at US$52 Billion in 2022 and are anticipated to grow
at a CAGR of 5.5% from 2023 to 2033, according to a recently
published Persistence Market Research report. By the end of 2033,
the market is expected to reach a valuation of US$94.5 billion.
North America accounts for 31.6% of the kid’s nutrition Ready to
Drink global market.
Particularly throughout the early, formative
years of life, children require nutrient-rich diets for healthy
growth and development. Long-term selective eating in children can
prevent them from receiving a complete and balanced diet, which can
cause major health problems such as immunological deficiencies,
malnutrition, decreased muscle mass, deteriorated bone health, and
stunting which can have long-term effects from bad health
outcomes.
Today’s parents are worried about their
children’s eating habits, especially working parents. Globally,
there is a rapid increase in the number of working moms. This may
result in an unbalanced diet for their child. They may not get an
adequate amount of nutrients. This is a serious issue that many
parents are facing.
To overcome this and to ensure that their child
is availed of all the nutrients, parents prefer nutritious products
present on the market.
"This is an exciting moment for Else Nutrition.
Breaking into the larger RTD market signifies a substantial growth
opportunity, building upon the success of our powdered products,"
says Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "We
welcome all retailers and interested parties to join us at Expo
East, as we continue to revolutionize children's nutrition."
Like their powdered counterparts, these new RTD
Kids Nutritional Shakes are Clean Label Project Purity certified,
free from chemicals of concern, as well as industrial and
environmental toxins, including heavy metals. They're free of
gluten, dairy, soy, corn syrup, and GMOs, packed with protein,
healthy carbs, healthy fats, and over 20 essential nutrients.
Notably, they contain significantly less sugar than leading brands,
illustrating Else Nutrition's commitment to clean, minimally
processed nutrition.
After their unveiling at Natural Products Expo
East (booth #2238 from September 21 to 23), the shakes will be
available across the US. Notably, Else Nutrition Kids Shakes
powdered products have been approved for US federal insurance
billing, making them more accessible to families nationwide.
To learn more about Else Nutrition and its range
of products, visit www.elsenutrition.com
Additionally, the Company announces that it has
extended the vesting deadline for an aggregate of 31,801,492
performance warrants (the “Performance Warrants”)
by two years to June 12, 2027.
The Performance Warrants were issued to certain
key members of management of the Company in connection with the
completion of the Company’s qualifying transaction on June 12,
2019. Each Performance Warrant entitles the holder to receive one
common share of the Company, with vesting of the Performance
Warrants occurring in stages upon achieving certain business
milestones. The vesting deadline for the Performance Warrants was
previously extended to June 12, 2025, in 2021 due to industry
delays resulting from COVID-19. As amended, all Performance
Warrants that have not been vested by June 12, 2027, will
expire.
The extension of the Performance Warrants was
approved by shareholder vote, excluding the votes of the holders of
the Performance Warrants, at the Company’s shareholder meeting held
on June 29, 2023. A description of the business milestones is
provided in the meeting materials sent to shareholders and is
available on SEDAR. The Company has also received conditional
approval of the Toronto Stock Exchange to the extension of the
vesting deadline of the Performance Warrants.
The amendment of Performance Warrants
constitutes a “related party transaction” as contemplated by
Multilateral Instrument 61-101 Protection of Minority Shareholders
in Special Transactions (“MI 61-101”). The
amendment is exempt from the valuation requirement under section
5.5(a) of MI 61-101 as the amendment represents less than 25% of
the market capitalization of the Company.
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSX: BABY, OTCQX:
BABYF, FSE: 0YL) is a food and nutrition company in the
international expansion stage focused on developing innovative,
clean, and plant-based food and nutrition products for infants,
toddlers, children, and adults. Its revolutionary, plant-based,
non-soy formula is a clean-ingredient alternative to dairy-based
formulas. Since launching its Plant-Based Complete Nutrition for
Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the
brand has received thousands of powerful testimonials and reviews
from parents, gained national retailer support, and achieved rapid
sales growth.
Awards and Recognition:
-
"2017 Best Health and Diet Solutions" award at Milan's Global Food
Innovation Summit
-
#1 Best Seller on Amazon in the Fall of 2020 in the New Baby &
Toddler Formula Category
-
“Best Dairy Alternative” Award 2021 at World Plant-Based Expo
-
Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle
category
-
During September 2022, Else Super Cereal reached the #1 Best Seller
in Baby Cereal across all brands on Amazon
Investor Relations Contact:
RBMG – RB Milestone Group LLCTrevor Brucato, Managing DirectorE:
Baby@rbmilestone.comwww.rbmilestone.com
Lytham Partners, LLCMr. Ben ShamsianNew York | PhoenixE:
shamsian@lythampartners.comP: 646-829-9701
TSX
Neither the TSX nor its regulation services
provider (as that term is defined in the policies of the TSX)
accept responsibility for the adequacy or accuracy of this
release.
Caution Regarding Forward-Looking
Statements
This press release contains statements that may
constitute "forward-looking statements" within the meaning of
applicable securities legislation. Forward-looking statements are
typically identified by words such as "will" or similar
expressions. Forward-looking statements in this press release
include statements with respect to the anticipated dates for filing
the company's financial disclosure documents. Such forward-looking
statements reflect current estimates, beliefs, and assumptions,
which are based on management's perception of current conditions
and expected future developments, as well as other factors
management believes are appropriate in the circumstances. No
assurance can be given that the foregoing will prove to be correct.
Forward-looking statements made in this press release assume, among
others, the expectation that there will be no interruptions or
supply chain failures as a result of COVID-19 and that the
manufacturing, broker, and supply logistic agreement with the
company does not terminate. Actual results may differ from the
estimates, beliefs, and assumptions expressed or implied in the
forward-looking statements. Readers are cautioned not to place
undue reliance on any forward-looking statements, which reflect
management's expectations only as of the date of this press
release. The company disclaims any 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e77cfc2b-7a2b-41bd-8c83-7bcff3efab79
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