LeanLife Health: Closing Private Placement
VANCOUVER, British Columbia, Feb. 08, 2019 (GLOBE NEWSWIRE) — LeanLife (the “Company”) announces that it is closing a second tranche of its previously announced non-brokered Private Placement and is issuing a total of 22.,920,000 units at a price of $0.05 per unit for an aggregate of $1,146,000 of which $465,000 was issued as shares for debt to current debt holders. Each unit consists of one common share and one share purchase warrant for an additional share at $0.075 per share for three years from the date of issuance. In connection with the placement the Company had provided for finder’s fees of up to 10% payable in cash. Total finder’s fees are $22,000.
About LeanLife Health and the Omega 3 Market
LeanLife Health’s products are shelf-stable extractions from flax seed, a plentiful and nonanimal source of Omega-3, that give them a significant advantage as a fortified food ingredient.
The products can be used as food additives or as nutraceuticals and have been used to make bread, noodles, cheese, yogurt, juice and milk products for the European market.
LeanLife Health’s industry leading Omega-3 product formulations are of the highest quality and contain no cholesterol. Products are available in oil, emulsion and powder forms.
The global Omega-3 market reached $33 Billion USD in 2016 and is expected to reach upwards of $57 Billion USD by 2025, according to a report by Grand View Research, Inc.
For more information, please contact:
Stan Lis, CEO
Tel: 604 764-0518
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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