Else Nutrition Holdings Inc. Provides Corporate Update
Thursday, October 17, 2019 12:00 PM
VANCOUVER, BC / ACCESSWIRE / October 17, 2019 / Else Nutrition Holdings Inc. ("Else Nutrition" or the "Company"), (TSX-V:BABY) (OTCQB:BABYF) is pleased to announce it was selected as one of six (6) pitch competition finalists at FoodTech Israel, in Tel Aviv last month. Finalists were selected based on their potential future impact on the state of the Foodtech and Agtech sectors.
The company has also been selected as a finalist for Rabobank's prestigious FoodBytes! London 2019 startup pitch competition, which will feature 15 of the top Food & and Agtech disruptors competing in London on November 7th, 2019.
The Company is also pleased to announce that it has entered into a consulting services agreement dated September 26, 2019 with SANJ Capital Ltd. ("Sanj Capital"), a private company owned and/or controlled by Mr. Sokhie Puar, a director of the Company as of the date hereof, for, among others, certain corporate finance, continuous disclosure, accounting services to the Company until April 30, 2020 (the "Term"). As compensation for such consulting services, Sanj Capital will be paid a one-time signing bonus of $25,000, a monthly fee of $7,500 for the period from June 12, 2019 to June 30, 2019 and a monthly fee of $10,000 for the period from July 1, 2019 until the completion of the Term.
Additionally, the Company has engaged Native Ads Inc. ("Native Ads") to provide and manage a comprehensive digital media marketing campaign for the Company for a total cost of USD$150,000 and an initial term of approximately 2 weeks. The campaign includes, but is not limited to, content creation, web development, media buying and distribution, advertising development, and campaign reporting and optimization.
A budget of approximately 70%-80% from this payment will be allocated for digital advertising, paid distribution, and media buying and approximately 20%-30% will be allocated for digital marketing consulting, managed services and management fees over the campaign period. Neither Native Ads nor any of its directors and officers own any securities of the Company. The services provided by Native Ads may be subject to TSX Venture Exchange approval.
About Else Nutrition Holdings Inc.
The Company is a food and nutrition company focused on research, development, manufacturing, marketing, sale and/or license of innovative plant-based food and nutrition products to the infant, toddler, children and adult markets. Its revolutionary 100% plant-based non-soy alternative to dairy-based baby formula received the "Best Health and Diet Solutions" award in the Global Food Innovation Summit in Milan in May 2017.
For more information, visit elsenutrition.com or please contact:
Hamutal Yitzhak, CEO, Co-Founder & Director of Else Nutrition Holdings Inc.
E: [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", "expect", or "may" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to required regulatory approval and the manner of services provided by individuals engaged by the Company.
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. Management's estimates, beliefs and assumptions are inherently subject to business, economic, competitive so 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.
SOURCE: Else Nutrition Holdings Inc.