BURLINGTON, Ontario – (BUSINESS WIRE) – Element Nutritional Sciences Inc. (CSE: ELMT; FRANKFURT: 93X) (the “Company” or “Element”) is pleased to announce an update on its operational performance for the three month period ending September 30, 2021 (“3rd Quarter 2021 “).
“With Rejuvenate ™ sales gaining tremendous traction in both traditional retail and e-commerce, we are excited to announce our new product innovations for our flagship brand. Rejuvenate Immune Health ™ and Rejuvenate Omega Health ™ are both targeting very large markets and will utilize our patented plant-based amino acid formulation. In addition, our JAKTRX ™ sports nutrition line will be launched in the US this month. Element is in an excellent position to drive continued sales growth by creating new distribution channels and innovating new patented plant-based products that help people lead better lives, ”said Stuart Lowther, Chief Executive Officer.
Operations update conference call details
The company will host a conference call and webcast to provide an operational update and answer questions from the investment community. The conference call will be moderated by Stuart Lowther, Founder, Chairman and CEO of Element.
Increase sales speed at large retailers
The company is pleased to announce that its sales speed at Walgreens in the US exceeded 3,700 units per week in September 2021. This represents a significant increase over the company’s first order in the second quarter of 2021, when Rejuvenate ™ sold approximately 300 units in June 2021 by Walgreens and increased the volume to over 10,000 units in September 2021. With 2020 sales of $ 139 billion and over 8,000 locations, Walgreens is the second largest pharmacy in the United States.
Element is also accelerating its sales through Amazon’s e-commerce platform. In the third quarter of 2021, Rejuvenate ™ product sales increased 23% over the second quarter of 2021 versus the Amazon platform. The company hired Canopy Management to provide marketing advice on the Amazon platform and accelerate e-commerce sales.
Update of the innovation pipeline
Element is introducing two new products to its innovation pipeline: Rejuvenate Immune Health ™ and Rejuvenate Omega Health ™.
The company has combined its patented Rejuvenate ™ formulation with additional key nutrients to create a unique product that supports and optimizes immune function, Rejuvenate Immune Health ™. The global immune system supplement market is projected to reach US $ 27 billion by 2026 and grow by 8.4% between 2020 and 20261.
Rejuvenate Omega Health ™ provides plant-based omegas along with other important nutrients that support heart and muscle health. The global omega-3 market is currently estimated to be around $ 10 billion by 2027 and will grow at a rate of 8.4% between 2020 and 20272.
In addition to these Rejuvenate ™ launches, the company is on track to launch JAKTRX ™ Pro Recovery in the US in November 2021 and JAKTRX ™ Promino in December 2021. According to Grandview Research, the global sports nutrition market was worth $ 10.7 billion in 2020 and is expected to grow 10.9% between 2021 and 2028.
Business development highlights for the third quarter of 2021
Further highlights for the third quarter of 2021 are:
Completion of first shipment of 200 boxes of Rejuvenate ™ plant-based single serving sachets to iHerb in June 2021, which were sold out on the platform on day one;
Received initial order from Metro for 43 Ontario stores;
Launch of Rejuvenate ™ Organic Ready-to-Drink Plant Protein Beverage on Sam’s Club e-commerce platform in the US;
Entering a Brokerage Agreement with Advantage Solutions, a consumer packaging agent with sales of over $ 4 billion in 40 countries, to distribute Rejuvenate ™ to retailers in North America and internationally;
Dedicated Canopy Management who manages over $ 1 billion in revenue on behalf of clients to maximize awareness and revenue on the Amazon platform;
Letter of Intent signed with NaturalMadeCo., Ltd. Form a Joint Venture to Distribute Rejuvenate ™ Across Asia Pacific;
Announcing Financial Results for Q2 2021, Revenue Up 212% To $ 1.1 Million And Gross Margin Of 22%;
Appointments of Tracie Crook and Greg Cochrane to the Board of Directors;
Appointed John Duffy as VP of Sales for the United States and Stephen Brown as chief operating officer; and
Established a medical advisory board to assist in the development of a research and development strategy for new higher dose Rejuvenate ™ formulations for the orthopedic and oncology market.
Element is an innovative and research-driven Canadian nutraceutical company specializing in developing science-based products for the global consumer goods market, with a portfolio specifically for men and women over 50. Element’s lead product, Rejuvenate ™, is a proprietary formulation that which is clinically proven to help rebuild, restore and rejuvenate the natural loss of muscle mass due to aging or other medical conditions. Element also offers JAKTRX ™, an elite brand of performance supplements. Element was founded in 2015 and is based in Burlington, Ontario.
To learn more about Element, visit elmtinc.com.
For more information on Rejuvenate ™, please visit: www.rejuvenatemuscle.com
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that includes discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance (often, but not always, with phrases such as “expected” or “does not expect”, “is expected”, “Anticipates” or “does not expect”, “planet”, “budget”, “planned”, “forecast”, “estimates”, “believes” or “intends” or variations of such words and phrases or indicates that certain actions, Events or results “could” or “could”, “would”, “could” or “will” occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements relate to, among other things, the size of the Rejuvenate ™ product market and the timing of product launches.
These forward-looking statements are based on reasonable assumptions and estimates made by the company’s management at the time these statements were made. Actual future results could differ materially because forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or accomplishments of the company to differ materially from future results, performance or achievements expressed or achieved therein Forward-looking statements are implied. These factors include, but are not limited to: fluctuations in general macroeconomic conditions; Expectations regarding the size of the health, nutraceutical and wellness markets in the US and Canada and changing consumer habits; the viability of the company’s products; Availability of sales channels for the company’s product offerings; the company’s ability to successfully achieve its business objectives; Expansion plans; successful development of the company’s proposed products; the existence of laws and regulations that may restrict or recall the company’s products in the United States and Canada; Customer and sales relationships; Fluctuations in the securities markets; and the company’s inability to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this press release are based on assumptions that the company’s management believes or at the time believed to be reasonable, the company cannot assure shareholders that actual results will correspond to these forward-looking statements. as there may be other factors that cause results not to be as expected, estimated or intended. Readers are cautioned not to place undue reliance on the forward-looking statements and information in this press release. The company assumes no obligation to update any forward-looking statements about beliefs, opinions, projections or other factors should they change, unless required by law.
No stock exchange, securities commission or other regulatory authority has approved or rejected the information contained herein.
1 Global Immune System Supplements Market To Reach $ 27.6 Billion By 2026 (prnewswire.com)
2 Global Omega-3 Supplements Market Report 2020: Market Size (globenewswire.com)