Promino Nutritional Sciences Inc. - ELNSF STOCK NEWS

Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF) announced preliminary financial results for Q1 2022, expecting revenue between $2.0 million and $2.3 million, marking a 521% growth year-over-year. The gross margin is projected between 35% and 40%. Key operational milestones include the launch of its Rejuvenate™ beverage in 1,295 Publix stores and increased sales through Amazon via its partnership with Pattern. CEO Stuart Lowther highlighted the company's strategic growth in North America and the potential for expansion into new markets.

Element Nutritional Sciences announced the successful closure of its short form prospectus offering, raising $3.5 million through the sale of 14 million common shares at $0.25 each. The offering was led by Canaccord Genuity Corp., which received an 8% cash commission and broker warrants. The net proceeds will be used for marketing, research and development, and general working capital. Element specializes in science-based products for those over 50, with a key product, Rejuvenate™, aimed at combating muscle loss due to aging.

Element Nutritional Sciences reported FY 2021 revenue of $2.4 million, a significant increase of 156% from $0.9 million in 2020, despite a net loss of $8.7 million. Q4 2021 revenue remained flat at $0.3 million.

The company expanded its retail partnerships, now including major retailers like Walgreens and Sam’s Club. Innovations in product offerings include JAKTRX™ PROMINO and Rejuvenate™ Immune Health, further enhancing its market presence.

Element Nutritional Sciences has secured purchase orders from Publix Super Markets to distribute its Rejuvenate™ organic plant protein beverage in 1,297 Publix locations across the U.S. Orders were received on March 7, 2022, with deliveries starting March 28, 2022. The product is expected to be available on shelves by April 15, 2022. This distribution agreement expands Element's reach, adding to its existing 15,600 distribution points in the U.S. and 750 in Canada. CEO Stuart Lowther expressed optimism about the partnership's role in supporting growth initiatives.

Element Nutritional Sciences Inc (CSE:ELMT; OTC:ELNSF) has announced a marketed offering of common shares at $0.25 per share. A preliminary short form prospectus has been filed with Canadian regulatory authorities, excluding Quebec. The offering includes an option for the agent, Canaccord Genuity Corp, to purchase up to 15% additional shares within 30 days for stabilization purposes. The closing is subject to customary conditions. The company focuses on nutraceutical products aimed at older adults, with its flagship product, Rejuvenate™, designed to combat muscle loss.

Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF) announced the issuance of a global Patent Cooperation Treaty patent for its clinically proven amino acid formulation used in Rejuvenate™ muscle health products on March 15, 2022. This patent enhances intellectual property protection, allowing the company to expand into international markets, including Canada, the European Union, and Asia Pacific. The patented formulation supports the launch of Promino™ in the growing US$14 billion sports nutrition industry, providing a competitive advantage in muscle health products.

Element Nutritional Sciences is set to report a revenue growth of 108% for the year ended December 31, 2021, with expected revenues between $2.4 million and $2.6 million. The increase stems from expanding distribution points in the U.S. retail pharmacy market, reaching over 16,000 locations. The company has secured its first purchase order from the third largest U.S. grocery retailer and anticipates launching three new products soon. Element's gross margin is projected to be between 10% and 20%.

Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF) announced a significant milestone with Sam’s Club, securing automatic warehouse replenishment for its Rejuvenate™ plant protein beverage. Following a successful launch on January 21, 2022, Rejuvenate™ achieved full sell-through across all 589 Sam's Club locations in the U.S. This move expands Element's distribution to nearly 15,000 points, emphasizing effective marketing and strong demand for the product, which supports muscle health for consumers aged 50 and above.

Element Nutritional Sciences Inc. (CSE: ELMT; OTC: ELNSF) announced the immediate resignation of Tracie Crook from its Board of Directors to pursue other employment opportunities. Chairman and CEO Stuart Lowther expressed gratitude for Crook's contributions during the company’s growth phase.

Element specializes in developing nutraceutical products targeted at consumers over 50, with its lead product, Rejuvenate™, aimed at restoring muscle mass lost due to aging. Founded in 2015, the company is based in Burlington, Ontario.