BURLINGTON, Ontario--(BUSINESS WIRE)--Element Nutritional Sciences Inc. (CSE:ELMT; FRANKFURT:93X) (the “Company” or “Element”), is pleased to provide an update on its operational performance for the three-month period ending September 30, 2021 (“Q3 2021”).
“With Rejuvenate™ sales gaining excellent traction in both traditional retail and e-commerce channels, we are delighted 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 leverage our patented plant-based amino acid formulation. Additionally, our sports nutrition product line, JAKTRX™, will be launching in the United States this month. Element is in an excellent position to drive continued revenue growth by creating new sales channels and innovating new patented plant-based products that help people live better lives,” said Stuart Lowther, Chief Executive Officer.
Operational Update Conference Call Details
The Company will be hosting a conference call and webcast to provide an operational update and to take questions from the investment community. The call will be hosted by Stuart Lowther, Element’s Founder, Chairman and CEO.
Date: |
Thursday, October 14, 2021 |
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Time: |
4:00pm ET |
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Conference ID: |
4885765 |
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Dial-in: |
(888) 440-5557 or (289) 514-2930 |
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Webcast: |
https://onlinexperiences.com/Launch/QReg/ShowUUID=000DA8EF-BDC7-40C6-8E32-9A164AE8595B |
Increasing Sales Velocity with Large Retailers
The Company is pleased to report that its sales velocity reached over 3,700 units per week at Walgreens in the United States in September 2021. This represents a significant increase from the Company’s initial order in Q2 2021, where Rejuvenate™ sold approximately 300 units in June 2021 through Walgreens and increased volumes to over 10,000 units in September 2021. With US$139 billion in revenue in 2020 and over 8,000 locations, Walgreens is the second largest pharmacy in the United States.
Element is also accelerating its sales over the Amazon e-commerce platform. In Q3 2021, Rejuvenate™ product sales increased 23% over the Amazon platform relative to Q2 2021. The Company has engaged Canopy Management to advise on marketing through the Amazon platform and to accelerate e-commerce sales.
Innovation Pipeline Update
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 health supplements market is expected to reach of US$27 billion by 2026, increasing at a rate of 8.4% between 2020 and 20261.
Rejuvenate Omega Health™ supplies plant-based omegas along with other key nutrients that support heart and muscle health. The global Omega 3 market is currently estimated to reach approximately US$10 billion by 2027, growing at a rate of 8.4% between 2020 and 20272.
In addition to these Rejuvenate™ product launches, the Company is also on track to launch JAKTRX™ Pro Recovery in the United States in November 2021 and JAKTRX™ Promino in December 2021. According to Grandview Research, the global market for sports nutrition was US$10.7 billion in 2020 and is expected to grow 10.9% between 2021 and 2028. Additional details on the JAKTRX™ product launches are provided in the Company’s press release dated September 22, 2021.
Business Development Highlights for Q3 2021
Additional highlights for Q3 2021 are as follows:
- Completed the first shipment of 200 cases of Rejuvenate™ plant-based single serve pouches to iHerb in June 2021, selling out on the platform on the first day;
- Received an initial purchase order from Metro for 43 stores in Ontario;
- Launched Rejuvenate™ ready-to-drink organic plant protein beverage on Sam’s Club e-commerce platform in the United States;
- Entered into a brokerage agreement with Advantage Solutions, a consumer-packaged goods broker with over US$4 billion in revenue across 40 countries, to distribute Rejuvenate™ to retailers in North America and internationally;
- Engaged Canopy Management, which manages over US$1 billion of revenue on behalf of clients, to maximize awareness and sales across the Amazon platform;
- Signed a letter of intent with NaturalMadeCo., Ltd., to establish a joint venture to distribute Rejuvenate™ across the Asia Pacific region;
- Announced Q2 2021 financial results with revenue increasing 212% to $1.1 million and a gross margin of 22%;
- Appointed Tracie Crook and Greg Cochrane to the Board of Direction;
- Appointed John Duffy as VP of Sales for the United States and Stephen Brown as Chief Operating Officer; and
- Formed a Medical Advisory Board to assist with designing a research and development strategy for new higher dose Rejuvenate™ formulations for the orthopedic and oncology market.
About Element
Element is an innovative and research driven Canadian nutraceutical company specializing in the development of science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 50. Element’s lead product, Rejuvenate™, is a proprietary formulation that is clinically proven to assist in the rebuilding, restoration and rejuvenation of 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 located in Burlington, Ontario.
To learn more about Element, visit elmtinc.com.
More information about Rejuvenate™ can be found at: www.rejuvenatemuscle.com
Forward Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: the size of the markets for Rejuvenate™ products and the timing of product launches.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company’s products; availability of distribution channels for the Company’s product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company’s proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company’s products in the United States and Canada; customer and distributor relations; fluctuations in securities markets; and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
1 Global Immune Health Supplements Market to Reach $27.6 Billion by 2026 (prnewswire.com)
2 Global Omega 3 Supplements Market Report 2020: Market Size (globenewswire.com)