Posted by AGORACOM-JC
at 8:00 PM on Sunday, April 12th, 2020
Dear AGORACOM Members, we hope this message finds your families well. We also want to wish Happy Easter and Happy Passover to those that are celebrating.
During this turbulent time, our job now more than ever is to bring you the small cap companies that are actually thriving in order to help you discover your next great company. Thanks to our focus on quality over quantity, AGORACOM clients have been operating exceedingly well and we are very happy to provide you with the following highlights over the last 10 days (in reverse chronological order):
* Empower Clinics (CBDT:CSE) Up 55% On 4.5M Shares Traded – Clinic Patient Visits Up 478% In Q1 (NEWS + VIDEO)
* BetterU Education (BTRU:TSXV) UP 37% On 1M Shares Traded – Closes Deal With USA Paramount For Enterprise Skills Development (NEWS + VIDEO)
* Hollister Biosciences (HOLL:CSE) Up 60% on 4M Shares – Acquisition Adds $16.4M Rev / $2.5M EBITDA (NEWS + VIDEO)
* New Age Metals (NAM:TSXV) 2.9M Ounces Of Palladium Equivalent Is Why Eric Sprott Owns 18.5% (VIDEO)
* Mota Ventures (MOTA:CSE) Acquires Over 20,000 Customers in March, Launches New Immune Support Product Line (NEWSÂ + VIDEO)
* Primo Nutraceuticals (PRMO:CSE) Up 100% On 2.6M Shares – Signs Acquisition LOI with Celebrity brand Beauty Kitchen (NEWS)
* Datametrex A.I. (DM:TSXV) Hired By US Government Agencies On COVID-19 / Coronavirus Fake News and Disinformation (NEWSÂ + VIDEO)
* PyroGenesis (PYR:TSXV) Receives $550K Under an Exclusive Agreement with a US Tunneling Company (NEWS)
We know that most of you have seen most of these headlines on our front page – but make sure to never miss a timely piece of news by also adding us into your social media streams on Twitter and Facebook.
Finally, look for some big news and changes coming to AGORACOM in the next 60 days. We are going to be bigger and better than ever!
Posted by AGORACOM-JC
at 9:23 AM on Wednesday, April 8th, 2020
When a company’s trading gets halted for a prolonged period of time, it is more than likely a death knell. For BTRU, it was a resurrection. Â
Under intense scrutiny of its business by regulators already, CEO Brad Loiselle and his team undertook their own serious evaluation of the Company’s powerful but faltering B2C online education platform. They realized they were in the right space and had superior technology to deliver online education ….. but they were in the wrong target market. B2C quite frankly, has massive upside but it involves an enormous amount of heavy lifting to target and attract enough individual customers to become viable. Â
As such, the Company decided to take its offering and really focus in on B2B instead. And they didn’t just make the decision, they used the halt to tweak their software and reach out to hundreds of companies about how their superior offering could skill, reskill and upskill their workforces. Before coming out of halt, they were already having serious conversations with serious organizations. Â
And it doesn’t hurt when your existing clients include McDonald’s India, Central Bank of India and Indian Oil Corporation. Â
With Easter just a couple of days away, add this resurrection story to your must watch list this weekend.
Posted by AGORACOM-JC
at 9:00 PM on Tuesday, April 7th, 2020
SPONSOR: BetterU Education Corp. aims to provide access to quality education from around the world. The company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated ecosystem. betterU / Ottolearn launch FREE COVID-19 mobile resource toolkit to fight the global crisis – Click here for more information.
COVID-19 propels growth of ed-tech, upGrad, BYJU”s see strong rise in learner base
Ongoing economic slowdown has made working professionals somewhat skeptical of the job environment in 2020, and they are therefore looking at upgrading their skills and staying ahead in the professional spheres
BYJU”S, which is backed by investors like Tiger Global, has witnessed a 150 per cent increase in the number of new students, with over six million new students joining the app in the month of March
New Delhi, Apr 7 (PTI) COVID-19 has spelt disaster for many sectors but one segment witnessing strong growth is ed-tech that has seen individuals – both school students and professionals – taking up online courses to study and enhance their skills amid the ongoing lockdown.
BYJU”S, which is backed by investors like Tiger Global, has witnessed a 150 per cent increase in the number of new students, with over six million new students joining the app in the month of March.
The company has recently introduced free ”Live Classes” on its platform to support students in their learning journeys.
Similarly, upGrad – which offers online programmes for working professionals – has on boarded 4,000 learners in March, and now aims to double this to 8,000 in April.
The ongoing economic slowdown has made working professionals somewhat skeptical of the job environment in 2020, and they are therefore looking at upgrading their skills and staying ahead in the professional spheres.
Swathi Karanth, a learner from Bengaluru who enrolled on upGrad, said his concern when the lockdown was announced was whether he will have a job in the next three months.
“I was told most companies would really tighten their belt over the next six months and only the better performers will survive,” he added.
The government, on March 24, had announced a complete lockdown in the country for 21 days to contain the spread of the coronavirus infection.
While schools are shut, many of them have started conducting online sessions to ensure students do not get impacted.
Similarly, many professionals have been asked to work from home to ensure business continuity. This also presents a growth opportunity for ed-tech platforms that can offer short-term courses to these professionals to help them enhance their skills.
According to Debjani Ghosh, president of Nasscom, coronavirus has thrown up “exceptional challenges” across the world and industries.
“While we continue to fight these challenges as a nation, amidst lockdown and remote working scenarios, it is extremely important that we continue harnessing our skill sets on emerging technologies to become future ready…we would encourage all stakeholders to use this opportunity of working from home to upskill themselves in the skills of the future,” she added.
The industry body has partnered Electronics and IT Ministry to launch an on-demand courseware on artificial intelligence.
Similarly, TCS iON, a strategic unit of India”s largest IT services firm Tata Consultancy Services, has announced a free, 15-day self-paced digital certification programme that has been specially designed for college students/working professionals to enhance their career skills by helping them effectively utilise the time at hand during this period of lockdown. PTI SR SHW SHW
Posted by AGORACOM-JC
at 3:03 PM on Friday, April 3rd, 2020
Company has signed a non-binding letter of intent with Heather Marianna, LLC, doing business as Beauty Kitchen
The LOI is non-binding and subject to possible change and the signing of a definitive agreement
VANCOUVER, British Columbia, April 03, 2020 — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”)Pursuant to discussions with IIROC (Investment Industry Regulatory Organization of Canada) Primo’s board and management team are providing more clarity to its shareholders in regards to the press release issued on March 31st, 2020.
The Company has signed a non-binding letter of intent (LOI) with Heather Marianna, LLC, doing business as Beauty Kitchen, a Nevada company, (“Beauty Kitchenâ€). The LOI is non-binding and subject to possible change and the signing of a definitive agreement.
Primo and Beauty Kitchen intend to draft and execute a definitive agreement (the “Definitive Agreementâ€) with detailed terms and conditions in the near future. Beauty Kitchen intends to incorporate a Canadian corporation, Marianna, Inc., (“Marianna, Inc.â€) in which it will conduct operations in Canada. Primo will acquire an ownership interest of 25% of the common voting (TBC) shares in Marianna, Inc., for consideration to be determined in the Definitive Agreement. Primo wishes to inform its shareholders that the transaction described by the LOI is subject to change pending signing of the Definitive Agreement.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
“Andy Jagpalâ€
President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305, or; [email protected].
To learn more about what this news means to the shareholders visit:
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM-JC
at 11:21 AM on Wednesday, April 1st, 2020
SPONSOR: BetterU Education Corp. aims to provide access to quality education from around the world. The company plans to bridge the prevailing gap in the education and job industry and enhance the lives of its prospective learners by developing an integrated ecosystem. betterU / Ottolearn launch FREE COVID-19 mobile resource toolkit to fight the global crisis – Click here for more information.
The Past, Present And Future Of Edtech Startups
Between January 2014 and September 2019, more than 4,450 edtech startups have been launched in India
An analysis of China’s current state of startup ecosystem will have very few but clear winners, one of which is the edtech sector. In India too, with the nationwide lockdown, there is a sudden surge in demand for edtech startups even as others are struggling to find a way out. Ecommerce and edtech are two sectors that may survive this rock phase, say experts.
However, as of now, it will not be wrong to say that edtech is yet to gain mass traction. Despite the launch of 4,450 edtech startups in the country, India has only one unicorn in the sector, BYJU’s, with a $5.7 Bn valuation. In fact, as we have mentioned in our earlier reports, BYJU’s also had to spend a good ten years to reach the valuation. The startup worked in stealth mode from 2011 to 2015 and the app was launched only in 2015.
For new entrepreneurs in the space, staying afloat has been all the more difficult. There is still a lack of warm reception for tech in India and many other countries. What a classroom can offer in terms of interpersonal skills, is something tech may not be able to replace, say educational experts.
“In our view, the failure rate for edtech startups is comparable with any other sector. Given that education is a high-involvement category and a career-affecting service, tech adoption is usually lower compared to other services and products. Hence, edtech startups can take more time to scale up than in some of the other categories,†Pranjal Kumar, CFO and head of education fund at Bertelsmann, told us earlier.
Funding And M&As In Edtech
According to DataLabs by Inc42, between January 2014 and September 2019, more than 4,450 edtech startups have been launched in India. However, 25% of startups have shut shop while only 4.17% of startups have raised funds. BYJU’s grabbed 65% of the total funding in edtech startups. The startups are, till date, finding it difficult to create a steady revenue stream.
To a great extent venture capitalists (VC) are playing an important role in helping the startup ecosystem, including edtech, largely considered futuristic. “VC investments have often been likened to rocket fuel or running on a treadmill. When we come in and invest we want to see you grow 5x over the next 15-18 months and keep that momentum going after each round of financing,†said Sajith Pai, Director, Blume Ventures.
The VCs who have been supporting BYJU’S, Vedantu, Toppr and others in the Indian edtech industry to scale-up businesses would be as below:
Blume Ventures: Blume has made six investments in edtech at pre-series A and seed stage. The investments have been in an array of segments within edtech including online test-prep, gamified learning, B2B white label apps for coaching classes and others.
Sequoia Capital: Known to be very active in the fintech segment, with 13 deals in 2019, Sequoia grabbed 10 deals in the edtech sector in 2019.
Omidyar Network: The VC firm makes equity investments in early-stage enterprises and provides grants to nonprofits in education and others.
Nexus Venture Partners: The venture fund has backed startups such as Unacademy, Quizizz, WhiteHat Jr among others
SAIF Partners: Toppr and Unacademy are some of the key investments by the VC in the Indian edtech market so far
Accel Partners: They have invested in startups including Edupristine and Vedantu
InnoVen Capital: The two prominent companies funded by InnoVen India include BYJU’S and Eruditus
Other than the above, Helion Venture Partners, Indian Angel Network (IAN) and India Educational Investment Fund are some of the prominent funds in the sector.
The edtech ecosystem also saw Initial Public Offering (IPO), and mergers and acquisitions, the two of the most common exit strategies in any startup ecosystem. As per DataLabs’ The Future Of India’s $2 Bn Edtech Opportunity Report 2020 between 2014 and 2019, a total of 35 edtech startups underwent merger or acquisition. The report also states that the Indian edtech startup ecosystem has seen the participation of 28 active acquirers, 54% of which hail from the education technology sector itself.
Posted by AGORACOM-JC
at 4:02 PM on Tuesday, March 31st, 2020
SPONSOR: CardioComm Solutions (EKG: TSX-V)
– The heartbeat of cardiovascular medicine and telemedicine. Patented
systems enable medical professionals, patients, and other healthcare
professionals, clinics, hospitals and call centres to access and manage
patient information in a secure and reliable environment.
‘Smart’ devices help reduce adverse outcomes of common heart condition
mHealth devices, such as fitness trackers, smart watches and mobile phones, may enable earlier AF detection, and improved AF management through the use of photoplethysmography (PPG) technology
AF is the most common heart rhythm disturbance, affecting around one million people in the UK. People with AF are at increased risk of having a stroke and dying, as well as heart failure and dementia
A new study, published in the Journal of the American College of Cardiology,
highlights the feasible use of mobile health (mHealth) devices to help
with the screening and detection of a common heart condition.
Atrial fibrillation (AF) is a heart rhythm condition that causes an
irregular and sometimes, abnormally fast heart rate. In AF, the heart’s
upper chambers (atria) contract randomly and sometimes so fast that the
heart muscle cannot relax properly between contractions. This reduces
the heart’s efficiency and performance—but also leads to a higher risk
of blood clots.
AF is the most common heart rhythm disturbance, affecting around one
million people in the UK. People with AF are at increased risk of having
a stroke and dying, as well as heart failure and dementia. Currently,
low detection due to lack of visible symptoms and non-adherence are
major problems in current management approaches for patients with
suspected AF.
Photoplethysmography technology
mHealth devices, such as fitness trackers, smart watches
and mobile phones, may enable earlier AF detection, and improved AF
management through the use of photoplethysmography (PPG) technology.
PPG is a simple and low-cost optical technique that can be used to
detect blood volume changes in the microvascular bed of tissue. It is
often used non-invasively to make measurements at the skin surface.
To help determine whether a mHealth technology-supported AF
integrated management strategy would reduce AF-related adverse events,
compared to usual care, an international team of researchers, led by
Associate Professor Guo from Chinese PLA General Hospital in Beijing,
and Professor Gregory Lip, Lead for the Liverpool Centre for
Cardiovascular Science (LCCC)/Price-Evans Chair of Cardiovascular
Medicine at University of Liverpool, conducted a randomised trial.
Central to the study was mobile health technologies developed by
leading global technology companies, with a focus on using wearable
smart devices such as those from Huawei, working in conjunction with a
specially developed mobile app. These pieces of equipment and software
can monitor a person’s vital signs with great detail and, most
importantly for this study, 24 hours a day.
The specially designed mobile app
not only charted the patient’s biometrics, it afforded clinicians the
ability to offer integrated care throughout the duration of the trial.
Doctors were able to periodically assess the patient’s updated
statistics and contact them through the app to offer advice via the ABC
care pathway. The ABC pathway, developed in part by the LCCS’ Professor
Gregory Lip, is a set of guidance for patients and clinicians, which
aims to promote a streamlined holistic approach to the management of AF, and ensure that the danger of complications is minimised.
The researchers enrolled a cluster of 3,324 AF patients aged over 18
years from 40 cities across China. The patients were randomized with
1678 receiving usual care and 1646 receiving integrated care based on a
mobile AF Application (mAFA) incorporating the ABC Pathway: ‘A’ Avoid
stroke; ‘B’ Better symptom management; ‘C’ Cardiovascular and other
comorbidity risk reduction. All patients were followed up in outpatient
clinics at 6 and 12 months.
Results
Upon completion of the study, the researchers were able to show that
occurrences of stroke, systemic thromboembolism, death and
rehospitalisation were significantly lower with those patients in the
mHealth intervention group compared to those undergoing usual care (1.9%
compared with 6%). Rehospitalisation rates were also notably reduced,
with only 1.2% of patients in the intervention group needing to be
readmitted to hospital, in comparison to 4.5% of patients in the control
group.
In addition to these positive figures, subgroup analyses by gender,
age, type of condition, risk score and comorbidities, demonstrated
consistently lower risks for the composite outcome for patients
receiving the mAFA intervention compared to usual care.
These results show an undeniable benefit for the adoption of an
integrated approach to monitoring and treating cardiac conditions such
as AF.
With smart technologies such as phones, watches and integrated smart
home systems becoming increasingly accessible and affordable, the
ability for clinicians and researchers to adopt this technology to
passively and unobtrusively gather a seemingly unlimited amount of data
and information on the global health population is offering boundless
opportunity for assessing and treating all manner of diseases and
conditions.
Integrated care approach
Associate Professor Guo, said: “Our study clearly highlights the need
for an integrated care approach to holistic AF care, supported by
mobile health technology, as it help to reduce the risks of
rehospitalisation and clinical adverse events.”
Professor Lip, said: “Improved AF care requires early detection which
enables the implementation of the priorities of AF management, which is
as ‘easy as ABC’: Avoid stroke; Better symptom optimisation;
Cardiovascular and risk factor management. Our clinical trial shows how
the mAFA App and smart devices can improve detection of AF and the
holistic management of AF patients, improving outcomes in this common
heart rhythm disorder.”
Posted by AGORACOM-JC
at 7:23 AM on Monday, March 30th, 2020
Company is currently working with various agencies within the United States Government on the mass amount of social media surrounding #coronavirus and #covid19
“We are thrilled to be working with the US Government on this very important issue. We recently completed work for Democracy Labs on #disinformation in social media regarding #covid19 and #coronavirus and secured a relationship with Carnegie Mellon University IDeaS…”
TORONTO, March 30, 2020 — Datametrex AI Limited(the “Company†or “Datametrexâ€) is pleased to share that the Company is currently working with various agencies within the United States Government on the mass amount of social media surrounding #coronavirus and #covid19. We will provide greater detail on the work we are doing once it is completed and our clients approve it for public dissemination.Â
“We are thrilled to be working with the US Government on this very important issue. We recently completed work for Democracy Labs on #disinformation in social media regarding #covid19 and #coronavirus and secured a relationship with Carnegie Mellon University IDeaS.
Both announcements assisted in getting Nexalogy in front of the
Government Agencies for this current opportunity in the United States.
The solid foundation we have built over the past years with our Canadian
Government clients like DRDC, the Canadian Military and NATO have
positioned Datametrex to be able to provide military grade solutions for
todays social media challengesâ€, says Marshall Gunter CEO of Datametrex
AI.
About Datametrex AI Limited
Datametrex AI Limited is a technology focused company with exposure
to Artificial Intelligence and Machine Learning through its wholly owned
subsidiary, Nexalogy (www.nexalogy.com).
Additional information on Datametrex is available at: www.datametrex.com
For further information, please contact:
Marshall Gunter – CEO Phone: (514) 295-2300 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This news release contains “forward-looking information” within
the meaning of applicable securities laws. All statements contained
herein that are not clearly historical in nature may constitute
forward-looking information. In some cases, forward-looking information
can be identified by words or phrases such as “may”, “will”, “expect”,
“likely”, “should”, “would”, “plan”, “anticipate”, “intend”,
“potential”, “proposed”, “estimate”, “believe” or the negative of these
terms, or other similar words, expressions and grammatical variations
thereof, or statements that certain events or conditions “may” or “will”
happen, or by discussions of strategy.
Readers are cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue
reliance on forward-looking information. The forward-looking information
contained herein is made as of the date of this press release and is
based on the beliefs, estimates, expectations and opinions of management
on the date such forward-looking information is made. The Company
undertakes no obligation to update or revise any forward-looking
information, whether as a result of new information, estimates or
opinions, future events or results or otherwise or to explain any
material difference between subsequent actual events and such
forward-looking information, except as required by applicable law.
Palladium is the main payable metal accounting for 65% of revenue stream based on 2019 PEA.
1:0.4 (Pd:Pt).
Excellent infrastructure and within 100 kilometers of the Sudbury Metallurgical Complex.
NI 43-101 Mineral Resource Estimation (Q1 2019)
PEA done Q3 2019.
2020 plan to follow up on PEA recommendations.
Preliminary Economic Assessment demonstrates positive economics for a large-scale open pit mining operation.
PEA Highlights (CDN$):
Life of mine (LOM) of 14 years, with 6 million tonnes annually of potential process plant feed at an average grade of 0.88 g/t Palladium Equivalent (PdEq) and process recovery rate of 80%, resulting in an annual average payable PdEq production of 119,000 ounces.
Pre-Production capital requirements: $495 M.
Undiscounted cash flow before income and mining taxes of $586M.
Undiscounted cash flow after income and mining taxes of $384M.
Average unit operating cost of $19.50/tonne over the life-of-mine.
Potential for up to 325 jobs at the peak of production.
Using March 11, 2020 spot Palladium price (US$2,275/oz) River Valley Project After-tax IRR is 30% and After-tax NPV (5%) is $C858M.
New Age Metals Inc. is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 12:45 PM on Friday, March 27th, 2020
SPONSOR: Datametrex AI Limited
(TSX-V: DM) A revenue generating small cap A.I. company that NATO and
Canadian Defence are using to fight fake news & social media
threats. The company announced three $1M contacts in Q3-2019. Click here for more info.
Covid-19 fake news hacks its way onto government blockchain website
On March 14, the government in Argentina disclosed that its system had effectively been hacked.
Perpetrator(s) uploaded false information regarding guidelines for public officials on handling the coronavirus (Covid-19) onto the country’s official bulletin website, which just so happens to use blockchain technology.Â
As a result, officials took the site temporarily offline.
Correspondingly, another issuance will be necessary to disclaim the false statements posted on its 34,239 editions.
Have the blockchain gods forsaken the government of Buenos Aires? Not exactly. Blockchain isn’t bullet-proof.
Hacked! Why Argentina’s case is a big deal
Perhaps you’re wondering, “what’s the big deal? It’s just a bulletin.â€
No, it’s not just a bulletin.
Many countries have their own official bulletin or gazette wherein
laws, notifications, or other big-deal, high-level government
information is formally announced.
In Argentina, it’s known as the BoletÃn Oficial. Mexico’s is christiend the Diario Oficial de la Federación. In the US it’s called the Federal Register.
And the fact that something of such substantial importance in
government communications was hacked is both alarming and interesting.
First off, blockchain-based systems are often hailed as more fool-proof to this type of manipulation.
And that’s because each block within the chain is supposed to have
its own unique cryptographic fingerprint and use what’s known as a
“consensus protocol.†Through this protocol, the nodes on the network
share and record transactional history.
Thanks to these mechanisms, in theory, not just any outsider can show up and manipulate the data.
But with some creativity and determination, hackers can bust through blockchain’s apparently impenetrable defenses.
Secondly, everyone is well aware of how fake news can make its way
onto social media. As a result, we’re consistently advised to only rely
on official sources, like government websites, for more information on
the pandemic.
The hacking of a government outlet like Buenos Aires’ means that no
source is 100 percent safe and fool-proof to being used as a platform to
broadcast false statements.
That’s why we should make an effort to consult additional sources for
more information. Especially for a topic as sensitive as healthcare.
And remember, if the government is hackable, so are you. So take the necessary precautions to protect your own data and systems.
Posted by AGORACOM-JC
at 8:35 AM on Thursday, March 26th, 2020
Highlights:
Cash balance of CAD $10 million and runway for well over a year;
On track to sign definitive manufacturing agreement with US infant nutrition partner during Q2-2020;
US product launch planned for Q2-2020; and
New online store and pre-order ability within weeks
VANCOUVER, March 26, 2020 – Else Nutrition Holdings Inc.(the “Company” or “Else Nutrition” or “Else“) (TSXV: BABY) (OTCQB: BABYF), a developer of novel plant based infant and toddler nutrition, is pleased to provide a corporate update.Given the unforeseen circumstances caused by the coronavirus (COVID-19) pandemic across the globe, the Company feels it is imperative to communicate its business progress and corporate status to stakeholders and the communities we serve.
Given the impact of the pandemic to many aspects of everyday life and
to the Company’s business, including travel, transportation and
manufacturing, Else is making a conscious effort to be increasingly
capital efficient and conservative, while striving to execute its goals
successfully. The Company is making all efforts to launch its
plant-based toddler nutrition in the US in Q2-2020 as planned.
Runway and Balance Sheet In February the Company closed a CAD $8 million equity financing, which included a strategic investment of CAD $5.75 million
by NewH2 a subsidiary of Health & Happiness (H&H) International
Holdings Ltd. H&H is a Hong Kong Stock Exchange (code 1112-HK)
company with revenues of over US$1.46 billion (2018).
The Company’s current cash and cash equivalents are about CAD $10 million, with no long-term debt.
The Company has sufficient liquidity and capital to fund its
operations for well over a year while fully executing on all aspects of
the business.
Product Launch & Marketing As previously
announced, the Company plans to launch its plant-based toddler nutrition
product in the US in Q2-2020, and continues working hard on several
fronts to achieve this target.
The Company had planned to soft launch the products at Natural Food
Expo West, during the first week of March, however, given the pandemic,
the event was cancelled. However, in preparation for the event and
planned launch, Else completed a comprehensive branding process which
includes product packaging, social media channels and a new website that
features an online store. The online store will open for pre-orders in
the coming weeks. The new website can be visited at: www.elsenutrition.com.
Over the next few weeks, the Company will begin sending product
samples to consumers, influencers and retail partners in conjunction
with a social and digital marketing campaign for the launch.
Additionally, the Company is actively engaged with potential retail
brokers and distributors that have a track record of getting novel
products onto retail shelves. The initial geographical focus of these
efforts is Los Angeles and New York City.
While Q2-2020 remains the targeted launch date the Company will
closely monitor the global pandemic and resulting market conditions to
ensure a successful product launch.
Operations As a part of H&H’s strategic
investment in Else the Company has also entered into a distribution MOU
whereby the two parties will negotiate definitive distribution
agreements for several territories including: France, Australia and China (Hong Kong; Cross-Border and Mainland China). The Company expects to have the first definitive agreement in place in Q3-2020.
Furthermore, in February 2020 the Company announced an MOU with a US-based manufacturing partner (see February 4, 2020
press release) and continues to work towards a definitive manufacturing
agreement that includes a capex investment with the partner. The
Company expects to have the definitive manufacturing agreement by April 2020.
“We are very appreciative of our team, shareholders, suppliers,
partners, customers and communities for their ardent support and
understanding during these unpredictable times and wish everyone the
best as we navigate the next few months together. We remain unwavering
in our mission to bring sustainable, clean, plant-based baby and toddler
nutrition alternatives to families worldwide – fulfilling the
outpouring of requests we’ve had from eager parents. We look forward to
updating everyone with positive news and encourage anyone with a
question or concern to reach out to us directly,” said Ms. Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition.
Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
The securities described herein have not been registered under
the U.S. Securities Act or any state securities laws, and may not be
offered or sold in the United States absent registration or
an applicable exemption from registration requirements under the U.S.
Securities Act and any applicable state securities laws.
Certain information contained herein constitutes “forward-looking
information” under Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with respect to
the Private Placement and the NewH2 Private Placement
and the completion thereof and the use of proceeds. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “will” or variations of such words
and phrases or statements that certain actions, events or results “will”
occur. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and they
are subject to known and unknown risks, uncertainties and other factors
that may cause the actual results to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information, including: delays in implementing the
business plans including timing of product launch resulting from the
Covid-19 pandemic, the receipt of all necessary regulatory approvals,
use of proceeds from the financing, capital expenditures and other
costs, and financing and additional capital requirements. Although
management of the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking information,
there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements and forward looking information. The Company will not update
any forward-looking statements or forward-looking information that is
incorporated by reference herein, except as required by applicable
securities laws.
Ms. Hamutal Yitzhak, CEO of Else Nutrition, Email: [email protected]; Mr. Sokhie Puar, Director of Else Nutrition, Telephone: 604-603-7787, Email: [email protected] CNW Group 2020
