LeanLife signs LOI with leading European Energy Drink manufacturer
VANCOUVER, British Columbia, July 07, 2020 (GLOBE NEWSWIRE) — LeanLife Health Inc. (CSE: LLP; FSE: LL1) (the “Company”) a Company focused on proprietary plant-based food products is pleased to announce that it has entered into a letter of intent (“LOI”) with FoodCare Group. http://www.foodcare.pl/en_en/ a leading food & beverage company based in Poland. The scope of the collaboration is going to build a distribution network for FoodCare products in Canada and the United States. The parties have set out a six-month period to finalize agreements during which FoodCare has committed exclusivity to LeanLife.
FoodCare group was founded by Wiesław Włodarski in 1984. Through organic growth the company has become one of the leaders in the fast moving consumer goods (FMCG) sector in Poland. FoodCare products are exported to more than 50 countries, the company has 2 factories and employs approximately 900 people. FoodCare owns a total of seven consumer brands, amongst which are energy and isotonic drinks such as Iron Energy, N-GINE and 4move. FoodCare also sells baking ingredients under it´s brand Gellwe and owns the muesli & healthy food brand Fitella. The turnover of FoodCare Group is stated at 160 million EUR per annum.In the early days FoodCare grew with desert products such as powdered pastries, toppings, creams, baking additives and spices, gelling additives and other powdery products (cocoa, drinking chocolate, etc.). Since 2003 FoodCare started to expand into energy drinks and launched the brand Tiger Energy Drinks.In 2011 the FoodCare portfolio grew further into the fruit drinks segment, reactivating the iconic brand FRUGO. Since then FRUGO has expanded with new product categories such as ice cream and jellies. In 2012, the legendary Mike Tyson became the ambassador of the FoodCare Energy Drink brand. Tyson visited Poland twice and participated in the advertising campaign of the brand. See latest link to Iron Energy Drink product: http://www.energydrinkiron.com/contact.html. At the time FoodCare Group also took over the BLOW brand, becoming the largest producer of energy drinks in Poland.By 2015 the company started positioning it’s 4Move brand amongst football professionals, getting the famous Portuguese football manager José Mário dos Santos Mourinho Félix to endorse the brand. Later Polish football players followed.Currently the company has started a new marketing campaign for it’s energy drink with stars from the American LFL league. (The Extreme Football League (X League). LFL is an American women’s tackle football league with games played during the spring and summer months in arenas and stadiums.LeanLife Health Inc. will offer full support and commitment to the launch the Canadian and American Foodcare products, especially under the Iron Energy Drink brand, and other FoodCare brands.LeanLife CEO, Stan Lis commented the LOI: “We are extremely pleased to getting FoodCare to sign an LOI with us. We believe that LeanLife can provide a great platform for servicing the American and Canadian markets on behalf of FoodCare. We are especially excited about the potential synergies that LeanLife´s Omega-3 products could deliver to some of the FoodCare brands. The two companies are certainly going to explore these opportunities diligently.”About LeanLife Health and the Omega-3 MarketLeanLife Health’s products are long-term shelf-stable extractions from flax seed, a plentiful plant-based source of Omega-3, that give them a significant advantage as an essential1 fortified food ingredient.Increased Omega-3 intake, especially with LeanLife’s higher Omega-3 to -6 ratio, has shown to have significant health improvement impacts. LeanLife’s mission is to provide a relatively low-cost means of replacing the less healthy vegetable oil in food, and transform them into healthier versions.LeanLife Health’s industry leading and proprietary Omega-3 product formulations are of the highest quality and contain no cholesterol. Products are available in oil, emulsion and powder forms.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.The global Omega-3 market reached USD $33 Billion in 2016 and is expected to reach upwards of USD $57 Billion by 2025, according to a report by Grand View Research, Inc.For more information, please contact:Stan Lis, CEO
SLis@LeanLifeHealth.comForward 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.THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.LeanLife Health Inc. will offer full support and commitment to the launch the Canadian and American Foodcare products, especially under the Iron Energy Drink brand, and other Foodcare brands.1 Omega-3 fatty acids are essential because the body cannot make them on its own and so they must be consumed from dietary sources.