Element Nutritional Sciences Expands Distribution with Walgreens to Carry its New Patented Rejuvenate™ Stick Packs in over 6,000 Stores

Rhea-AI Summary

Element Nutritional Sciences Inc. (OTC:ELNSF) announced that Walgreens has placed orders for the Rejuvenate™ Muscle Activator stick packs, set to be available in over 6,000 U.S. retail locations. Shipments to Walgreens began and are expected to complete by the end of January 2023. Element has partnered with Walgreens since 2021, previously providing sachets and ready-to-drink products. The new product format aims to enhance consumer experience and boost gross margins. CEO Stuart Lowther emphasized the company's commitment to delivering clinically supported solutions for muscle health, anticipating significant long-term revenue growth.

Positive

• Walgreens has placed orders for Rejuvenate™ Muscle Activator stick packs at over 6,000 locations, enhancing visibility and distribution.
• Element is expected to increase gross margins with the new product format compared to previous offerings.
• CEO emphasizes long-term revenue growth potential with strong retailer support.

Negative

• None.

BURLINGTON, Ontario--(BUSINESS WIRE)-- Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF; FRANKFURT:93X)(the “Company” or “Element”), is pleased to announce that Walgreens has placed purchase orders to carry Rejuvenate™ Muscle Activator stick packs at over 6,000 retail locations across the United States. Element has begun shipping to Walgreens and expects Rejuvenate™ Muscle Activator to be completely shipped by the end of January 2023.

Walgreens is the largest pharmacy chain in the United States with 8,886 retail locations and serving over 10 million customers in store and online every day. Element has been a vendor of record to Walgreens since 2021 with Walgreens previously carrying the Rejuvenate™ sachets and ready-to-drink beverages both online and in-store.

“The development of the Rejuvenate™ Muscle Activator stick packs and subsequent launch is a project we started early last year. The delivery format and packaging design are a significant improvement that we feel will resonate with our consumers. We also expect an increase in our gross margins relative to the previous Rejuvenate™ format. We are very pleased with the support for our suite of Rejuvenate™ products from Walgreens, the largest pharmacy chain in the United States. Our value proposition to consumers is clear, our product is backed by clinical evidence, and we expect to generate significant long-term revenue growth from partners like Walgreens as consumers seek solutions to improve their muscle health and their quality of life,” said Stuart Lowther, Chief Executive Officer.

About Element

Element is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 40. 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

More information about JAKTRX™ and Promino™ can be found at: www.jaktrx.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 expected timing of shipping Rejuvenate™ Muscle Activator, Element’s ability to increase gross margins and the Company’s ability to generate long-term revenue growth.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005102/en/

Stuart Lowther

Chairman, CEO and President

ir@elementnutrition.com

416-467-5229

Marc Charbin

Investor Relations

ir@elementnutrition.com

416-467-5229

Source: Element Nutritional Sciences Inc.

FAQ

When will Rejuvenate™ Muscle Activator be available at Walgreens?

Rejuvenate™ Muscle Activator is expected to be completely shipped to Walgreens by the end of January 2023.

How many Walgreens locations will carry the Rejuvenate™ product?

Rejuvenate™ Muscle Activator will be available at over 6,000 Walgreens locations across the United States.

What is the stock symbol for Element Nutritional Sciences?

The stock symbol for Element Nutritional Sciences is ELNSF.

What does the Rejuvenate™ Muscle Activator aim to improve?

Rejuvenate™ Muscle Activator is designed to improve muscle health and assist in the restoration of muscle mass.

What is the significance of Walgreens for Element Nutritional Sciences?

Walgreens is Element's largest retail partner, having been a vendor since 2021, enhancing Element's market reach in the nutraceutical sector.