VANCOUVER, BC / ACCESSWIRE / January 22, 2020 / ELSE NUTRITION HOLDINGS INC. (TSX-V:BABY)(OTCQB:BABYF) ("Else Nutrition", "Else" or the "Company"), a developer of plant-based alternatives to dairy-based baby nutrition, announces today that it has received a formal notice of allowance from the U.S. Patent & Trademark office for the extension of the Company's existing patents to cover the market of adults suffering from malnutrition.
The extension addresses the use of the company's proprietary formula for adults who have specific malnutrition related conditions such as lean body mass and declining basal metabolic rates. The patented composition provides the necessary proteins, amino-acids and other nutrients needed in a single food serving.
"Receiving a notice of allowance in this critical market represents a milestone of significant importance, because it paves the way for future, already planned, product expansion beyond the baby and toddler market segments. Furthermore, the growth of our intellectual property portfolio in the US is timely as we get set to launch our products there this year," stated Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "Our 100% plant-based formulation has functional and meaningful applications to a wide range of potential consumer markets. While we remain laser-focused on the launch of our baby products, our IP can also help serve the rapidly growing $5 billion U.S. plant-based food market giving those in need, nutritious clean label offerings," she added.
The Company is also pleased to announce that it has re-engaged Native Ads Inc. to provide digital media marketing services. The Company previously announced on October 17, 2019 that it had engaged Native Ads for a limited digital media marketing program. Under the new engagement, Native Ads will provide its services for a period of 5 weeks at a cost to the Company of $125,000 CAD. The Company previously obtained the consent of the TSX Venture Exchange to the engagement of Native Ads for its services.
For more information, contact:
Ms. Hamutal Yitzhak, CEO, Co-Founder & Director
ELSE Nutrition Holdings Inc.
E: [email protected]
TSX Venture Exchange
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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", "plan", "hope to", "intend" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the Company's commercialization of its products and expected timing, expected go-to-market strategy (including marketing, proposed markets, sales, customer growth and market position), and industry conditions.
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, retention of key personnel, the Company's ability to expand into global markets and competitive developments.
The foregoing list of factors is not exhaustive, and other risks and uncertainties not presently known, or believed to be material, to management Additional information 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