VANCOUVER, British Columbia, Dec. 12, 2023 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. (BABY) (BABYF) (0YL.F) ("Else" or the "Company"), is pleased to announce that its innovative Ready-To-Drink (RTD) Kids' Nutritional Shakes are expected on the shelves of a leading retail pharmacy chain with locations across Western Canada during the first quarter of 2024. This early and note-worthy listing expands Else's penetration within the Canadian market and demonstrates the brand’s growing appeal among consumers.
This regional retail leader, known for its extensive reach in British Columbia and Alberta, already carries a vast range of Else Nutrition products and now offers an ideal platform for Else’s nutritious RTD products. The listing accentuates the shared objective of both Else and the retailer in delivering quality, wholesome products to Canadian families. With 79 locations across Western Canada, this retail partner’s strategic reach makes Else's RTD Kids' Nutritional Shakes in Chocolate and Vanilla immediately accessible in a core region and marks a key milestone in making plant-based nutrition more accessible to Canadian households.
“We are thrilled to once again partner with a powerhouse retail chain that aligns with our vision of providing families with high-quality, nutritious, and sustainable options. This collaboration significantly propels our mission of making plant-based nutrition readily available to a broader Canadian audience,” said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition.
The Company also announces that it has agreed to amend the exercise price and expiry date of an aggregate of 2,857,142 common share purchase warrants of the Company. The warrants were originally issued on June 29, 2022, pursuant to an offering of units of the Company. Each warrant may be exercised to acquire a common share of the Company at a price of $1.25 per share until June 29, 2027. Pursuant to the amendment, the warrants may be exercised at $0.485 per share until November 21, 2028. Other than the foregoing, no other substantive amendments to the terms of the warrants are contemplated. The holder of the warrants is an arm’s length investor in the Company. The warrants may not be exercised for any shares that would result in the holder exceeding ownership of 9.9% of the issued common shares. The warrant amendment is subject to the approval of the Toronto Stock Exchange.
To delve deeper into Else Nutrition's offerings and its revolutionary approach to kids' nutrition, visit www.elsenutrition.com
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:
Alexandra Schilt
Crescendo Communications, LLC
Office: (212) 671-1020 Ext: 305
Email: baby@crescendo-ir.com
TSX
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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 amendment of the warrants. 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. 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/4359678a-2016-440b-b86a-cbcfb31b23f3
