Forza Innovations Inc. Announces Manufacturing Agreement In Principle

Rhea-AI Summary

Forza Innovations Inc. (OTC Pink: FORZ) announced an agreement in principle with Tonjan Heating Technology to manufacture its WarmUp products. Tonjan, known for its expertise in FAR infrared heating technology, has a proven track record with major brands and maintains a low defect rate. Forza's WarmUp line consists of innovative wearable back compression devices aimed at reducing joint stiffness and inflammation through heat therapy. This partnership is expected to enhance Forza's supply chain efficiency, bringing the WarmUp products closer to market readiness.

Positive

• Agreement in principle with Tonjan Heating Technology for manufacturing support.
• Tonjan has a strong industry reputation and low defect rate (<2%).
• Partnership facilitates entry of WarmUp products into the market.

Negative

• None.

CALGARY, Alberta , Aug. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Forza Innovations Inc. (OTC Pink: FORZ) (the “Company”) is pleased to announce that it has reached an agreement in principle with Tonjan Heating Technology to manufacture Forza Innovations WarmUp products. The Company and Tonjan will now work on finalizing a formal manufacturing agreement. 

Tonjan Heating Technology, an industry leader of FAR infrared heated technology manufacturing and currently has products being sold in North America, Europe, Australia, and Asia. The manufacturer also produces for the brand names Milwaukee and Dewalt. 

This full spectrum manufacturer has 15 years in business and specializes in how to properly cut and sew/embed wearable technology to the highest standards with less than a 2% defect rate. Tonjan is fully certified with both CE/UL testing and certification and Tonjan also owns 5 utility patents while continuously developing new innovative measures.

Johnny Forzani, the Company’s President and CEO, commented, “I am incredibly excited to announce the agreement in principle with Tonjan. A reputable company that I have worked with in the past, in which we had great success. We are thrilled to be at the final stages of setting up the supply chain for our series 1 product line “Warm-up". Working with this manufacturer brings us one step closer to bringing our product to market!”

About Forza Innovations Inc.

The Company is in the health-tech wearable performance business. The Company has acquired all of the ownership and the rights to certain late, developmental stage, WarmUp products. WarmUp are cutting edge, innovative, wearable, back compression devices. The therapeutic application of heat causes a change in temperature of the soft tissues which decreases joint stiffness and relieves inflammation. 

Please refer to the Company's website www.forzainnovates.com.

For further information please contact the Company at: info@forzainnovates.com

On behalf of the Board,

Forza Innovations Inc. 

Johnny Forzani, President & Chief Executive Officer

Forward-Looking Statements

Some of the statements contained in this press release constitute forward-looking statements.  Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, such as statements regarding the closing of the exchange agreements and expected reduction in our total outstanding debt and annual interest payments.  In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology.  The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement.  Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, activity levels, performance, or achievements.  Readers are cautioned not to place undue reliance on these forward-looking statements.  We discuss many of these risks in greater detail under the heading "Risk Factors" in the quarterly and annual reports filed with the Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release.  We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

FAQ

What is the recent agreement announced by Forza Innovations?

Forza Innovations announced an agreement in principle with Tonjan Heating Technology to manufacture its WarmUp products.

What does Tonjan Heating Technology specialize in?

Tonjan Heating Technology specializes in FAR infrared heating technology and has a solid reputation in the manufacturing sector.

What are Forza's WarmUp products designed to do?

The WarmUp products are wearable back compression devices aimed at decreasing joint stiffness and relieving inflammation through heat.

What is the significance of the partnership with Tonjan for Forza Innovations?

The partnership with Tonjan is significant as it enhances Forza's supply chain for the WarmUp product line, moving them closer to market.

How long has Tonjan Heating Technology been in business?

Tonjan Heating Technology has been in business for 15 years.