VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / April 20, 2020 / ELSE NUTRITION HOLDINGS INC. (TSXV:BABY)(OTCQB:BABYF) ("Else" or the "Company"), a developer of novel plant-based infant and toddler nutrition, is pleased to announce that the Company has expanded its intellectual property (IP) portfolio to India and Canada.
The Company has received a formal grant from the Indian Patent office for its patent application 640/CHENP/2015, and a notice of allowance from the Canadian Intellectual Property Office for its patent application 2898980, for its proprietary, clean, plant-based formulation for infant and toddler populations.
"These are highly encouraging developments in key growth markets as we aim to extend our global reach and impact," stated Ms. Hamutal Yitzhak, Else Nutrition CEO & Co-Founder. She added, "We continue to hear from parents across all geographies that our clean, plant-based infant and toddler formulations can provide a viable alternative for parents seeking an alternative to formulas which contain cow's milk protein or soy protein."
Additionally, since March 11, 2020, the Company has engaged AGORACOM for investor awareness, marketing and branding services (the "Advertising Services"). As consideration for the Advertising Services, Else will issue an aggregate of $60,000 plus applicable taxes in the form of common shares of Else (the "Shares"). The Shares are payable in five equal installments during a period from April 2020 until March 2021 for a total term of one-year, as further provided in the online marketing agreement between the Company and AGORACOM. The number of Shares to be issued each time an installment is due will be determined by using the closing price of the Shares of Else on the last trading day following each period for which the Advertising Services were provided. In accordance with Policy 4.3 - Shares for Debt, each Share issuance installment is subject to approval from the TSX Venture Exchange. The number and amount of each issuance will be disclosed by way of a press release when such Shares are issued.
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel-based food and nutrition company 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 formula. Else Nutrition (formerly INDI) won the "2017 Best Health and Diet Solutions" award at the Global Food Innovation Summit in Milan. The holding company, Else Nutrition Holdings Inc, is a publicly-traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QB board under the trading symbol BABYF. Else's Executive and Advisory Board includes leaders hailing from Abbott Nutrition, Mead Johnson, Boston Children's Hospital, ESPHGAN (European Society for Pediatric Gastroenterology, Hepatology and Nutrition). Plum Organics, Tel Aviv University's Sackler Faculty of Medicine, and Gastroenterology & Nutrition Institute of RAMBAM Medical Center.
For more information, contact:
Ms. Hamutal Yitzhak, CEO, Co-Founder & Director
Else Nutrition Holdings Inc.
E: [email protected]
Mr. Sokhie Puar, Director of Else Nutrition Holdings Inc.
Telephone: 604-603-7787
Email: [email protected]
TSX Venture Exchange
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.
Caution Regarding Forward-Looking Statements
This press release contains statements that, to the extent they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will", "to be", "intend" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to the Company's expected go-to-market strategy (including marketing, proposed markets, sales, customer growth and market position) and the share issuances made to AGORACOM.
Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management's perception of historical trends, 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 successful completion of Else's proposed scale-up for its products, and such statements are intended to apply only to the infant formula market for ages 12 months and above, and having all necessary regulatory approval as required by each target market.
Numerous risks and uncertainties could cause the Company's actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: consumer demand for the Company's products, whether the Company's current and future products achieve commercialization, uncertainty regarding material changes in laws and regulations and the Company's ability to expand into global markets.
In addition, the Company is subject to risks and uncertainties caused by the COVID-19 pandemic which has resulted in governments worldwide enacting emergency measures to combat the spread of the virus including travel bans, self-imposed quarantine periods and social distancing. The outbreak of COVID-19 can impact our operations in a number of ways including quarantined employees, travel restrictions, temporary closure of our office, as well as interruptions to our manufacturing and supply chains.
The foregoing list of factors is not exhaustive, and other risks and uncertainties not presently known, or believed to be material, to management and other factors that could affect the operations or financial results of the Company are set out in the Company's Filing Statement dated May 14, 2019 under the heading "Risk Factors" and may be accessed through the SEDAR website (www.sedar.com).
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.
SOURCE: ELSE Nutrition Holdings