VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / LeanLife Health Inc. (CSE:LLP)(FSE:LL1) (the "Company"), is cheering to the in-ring comeback of boxing legend Mike Tyson 15 years after his last fight. The fight against Roy Jones Jr at the Staples Centre in Los Angeles last Saturday attracted a record audience on Pay TV channels around the globe. Albeit ending with a draw the fight means a huge win for LeanLife and the marketing for the US launch of it's "Iron Energy" drink branding Mike Tyson. Tyson has already committed to three more fights next year.
Stan Lis, CEO of LeanLife commented: "We congratulate Mike and his entire team. Mike proved again what a great sportsman he is. For LeanLife Mike's comeback provides invaluable media exposure including social media. We will be trying hard to monetize this tremendous visibility for the new launch of our "Iron Energy" drink in the US. We at LeanLife are extremly confident that brand recognition will ultimately translate into sales."
Listing in the US is starting under the ticker LNLHF
LeanLife has meanwhile received a US-ticker symbol LNLHF for trading on the OTC QB-market. Concurrently the company has requested it's common shares to become eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the United States. DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the Company's common shares in the United States over time. The DTC eligibility is expected to be granted shortly.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be "DTC eligible".
The company announces the settlement of debt by the issuance of 9,800,000 units at a rate of $ 0.06 each for total of $ 588,000 in debt. Each unit consist of one common share and one share purchase warrant to buy an additional common share at $ 0,08 each. Officers and directors are taking a total of 3,300,000 units.
About LeanLife Health and its Competive Positioning in Energy Drinks
FoodCare, the supplier of "Mike Tyson" Iron Drinks, is one of the leaders in Poland's energy drink market and has also grown Iron Energy into the leading brand in the Middle East. It believes the product will appeal to North American consumers as well.
LeanLife has an exclusive distribution agreement with FoodCare to distribute various energy drinks, in the US and Canada. Presently the Company is focused on the distribution of the Mike Tyson Iron Drinks in the US and Canada.
The annual value of the combined US and Canadian energy drink markets is estimated at over US$14 billion. Red Bull is the market leader, followed by Monster and Bang. Red Bull is the market leader and pursues a premium price strategy; LeanLife aims to be aggressively positioned in this market category.
For more information, please contact:
Stan Lis, CEO
Forward Looking Information
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control including, the Company's ability to compete with large food companies; sales of any potential products developed will be profitable; the ability to complete sales under the sales agreement. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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SOURCE: LeanLife Health Inc.