VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / LeanLife Health Inc. (CSE:LLP)(FSE:LL1) (the "Company"), announces it has entered into an agreement to engage Capital Markets Expert, Daniel Cruz, as financial advisor. Mr. Cruz will lead and oversee the finance function for the Company in respect of financing and financial planning, and treasury and debt management, as the company progresses with its branded energy drinks and Omega-3 products.
Daniel Cruz noted, "I see tremendous growth potential with the proven brand of Mike Tyson and his drink Iron Energy. LeanLife is the exclusive distributor of Iron Energy for North America, and the product is also currently available in more than fifty countries. This international presence brings great potential, and I am excited to be able to assist in the further growth of LeanLife."
Daniel has a background working with beverage companies such as Russell Breweries which IPO'd in 2005 on the Canadian Securities Exchange. Daniel worked intimately with Russell Beer, raising them funds over a ten-year period. Russel Beer collaborated with the Canadian Football league and athletes of the BC Lions launching Lions Lager which was a first of its Kind. The Exit of Russell breweries was completed in 2017 and all brands associated with the company continue to thrive.
Daniel Cruz is an experienced financial industry professional having worked for 12 years as a senior investment advisor at Canadian broker dealers where he gained experience in equity research, asset management, investor relations, corporate finance, and venture capital. Mr. Cruz was one of the youngest Senior Investment Advisors at Canaccord Financial Inc. in 2010. He is also a co-founder of Liquid Media Group Inc., a Nasdaq listed issuer. During his tenure as CFO over the past few years he helped the company list on Nasdaq and raised over $20 million dollars.
Stan Lis, CEO stated " Daniel's extensive experience in global finance and operations, as well as his track record of financing companies such as ours, will be critical as we continue to grow and expand our markets. On behalf of the entire LeanLife team, I welcome Daniel and look forward to his contributions."
Pursuant to the agreement Mr. Cruz will receive 300,000 common shares of the Company as an inducement and for present contributions.
The Company also announces the granting of 3.2 million stock options to consultants at a rate of $0.08 per share for periods of up to three years.
About LeanLife Health and the Omega-3 Market
FoodCare Group, the supplier and manufacturer of Iron Energy, by Mike Tyson, is a market leader in Poland's energy drink market and is a leading brand in the Middle East. We believe Iron Energy will also appeal to North American consumers and will quickly gain retail and consumer acceptance and trial.
The annual market value of the combined U.S. and Canadian energy drink markets is estimated at over $14 billion (USD). According to Allied Market Research, the global energy drinks market size was valued at $53.01 billion in 2018 and is expected to grow at a CAGR of 7.20% to reach $86.01 billion by 2026.
Capitalizing on the opportunity, LeanLife now first offers Iron Drink, a Mike Tyson branded energy drink to the consumers in the United State. LeanLife will be aggressively priced, and shelf positioned, to appeal to a broad consumer base. A good market share growth will be expected.
Consumer preference and the increased occasions for energy drink consumption are growing the category. Iron Energy will participate in this phenomenon through category and organic growth. The broad base of health and sport-oriented consumers will be attracted to this unique product alternative. Iron Energy is enjoying great success in the European market. We believe Iron Energy will offer a similar success story in North America due to its compelling brand attributes, product taste and energy benefits.
LeanLife Omega-3 products are long-term shelf-stable extractions from flaxseed, a plentiful plant-based source of Omega-3, that give them a significant advantage as an essential fortified food ingredient.
The global Omega-3 market was valued at USD $2.49 Billion in 2019 and is expected to expand at a CAGR of 7.7% over the forecast period of 2020-2027, according to a report by Grand View Research, Inc.
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.