Gelteq Announces Largest U.S. Customer Increases Initial Order by 50% to Meet Growing Market Demand

Rhea-AI Summary

Gelteq (NASDAQ: GELS) announces that its largest U.S. customer, Healthy Extracts, has increased its initial purchase order of collagen and Mynus sugar blocker gels by 50% due to high market demand. The production is underway with shipment expected in January 2025. This expansion follows Gelteq's strategic U.S. market entry, including the recent appointment of Adam Bendell as U.S. President. The partnership aims to provide improved delivery solutions for nutraceutical products, focusing on easier digestion and better absorption.

Positive

• 50% increase in initial purchase order from largest U.S. customer
• Expansion of U.S. market presence through strategic partnership
• Production already underway for increased order volume
• Potential for higher margins and accelerated revenue growth

Negative

• None.

Healthy Extracts expands order after high demand for Gelteq’s collagen and Mynus sugar blocker gels

NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Gelteq Limited (NASDAQ: GELS) (“Gelteq” or the “Company”), a clinical and science-based company that is focused on developing and commercializing white label gel-based delivery solutions for prescription drugs, nutraceuticals, pet care, and other products, announces its largest U.S. customer, Healthy Extracts (OTCQB:HYEX), has increased its initial purchase order of Gelteq collagen and Mynus sugar blocker gels by 50%, citing high demand and popularity of the products. Healthy Extracts’ platform acquires, develops, patents, markets, and distributes plant-based nutraceuticals that target select high-growth categories within the multibillion-dollar nutraceuticals market.

This growing partnership supports Gelteq’s strategic push into the U.S. market following the recent hiring of Adam Bendell as the Company’s U.S. President and the establishment of a U.S.-based office. Production of Healthy Extracts’ order is underway, with shipment expected in January 2025.

“Gelteq is dedicated to delivering products offering an improved delivery platform to those who may struggle to swallow or digest traditional nutraceutical products, which we anticipate will result in improved commercial success,” Gelteq Co-Founder and CEO Nathan Givoni said. “Our partnership with Healthy Extracts is a perfect example of how our formulations can create a revolutionary and convenient way for consumers to ingest the product with the added benefits of easier digestion and better absorption. We believe the increase in demand is a testament to our innovative products and a positive step forward in our commitment to building long-term shareholder value.”

“Gelteq’s advanced technology offers a cutting-edge delivery system that empowers us to expand existing sales channels and capitalize on new market opportunities, all while delivering a more satisfying and impactful experience for consumers. This partnership is poised to drive higher margins, accelerate revenue growth, and strengthen our leadership in the rapidly expanding U.S. health and wellness market. We are confident that Gelteq's collaboration will be a pivotal factor in driving the sustained growth and success of our business,” said Duke Pitts, Healthy Extracts President.

Gelteq and the Healthy Extracts team will continue to expand the range of their partnership and expect to announce new products in early 2025.

About Gelteq Inc.
Headquartered in Melbourne, Australia, Gelteq (NASDAQ: GELS) is a clinical and science-based company that is focused on developing and commercializing white label gel-based delivery solutions for prescription drugs, nutraceuticals, pet care and other products. Gelteq is focused on advancing and commercializing its delivery solutions within five core verticals: pharmaceuticals, over-the-counter medications, nutraceuticals, animal medications, and sports nutrition. Gelteq’s unique formulation directly addresses the issues associated with traditional drug delivery methods such as difficulty swallowing, taste of unpalatable ingredients, and dosage control. For more information, visit www.gelteq.com.

About Healthy Extracts
Healthy Extracts Inc. is a platform for acquiring, developing, researching, patenting, marketing, and distributing plant-based nutraceuticals. The company’s subsidiaries, BergametNA™ and Ultimate Brain Nutrients™ (UBN), offer nutraceutical natural heart and brain health supplements. This includes the only heart health supplement distributed in North America containing Citrus Bergamot SuperFruit™. This superfruit has the highest known concentration of polyphenols and flavonoids. UBN’s KETONOMICS® proprietary formulations, which have been designed to enhance brain activity, focus, headache and cognitive behavior, provide many sales and intellectual property licensing opportunities.
For more information visit: healthyextractsinc.com, bergametna.com or tryubn.com.

Forward-Looking Statements 
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” "will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Gelteq’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the timing and fulfilment of current and future orders relating to Gelteq’s products, the success of new programs, the ability to implement a new strategic plan and the success of a new strategic plan. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gelteq in general, see the risk factors in the final prospectus filed on October 22, 2024. All such forward-looking statements speak only as of the date they are made, and Gelteq undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.

Contact: CORE IR 516-222-2560 PR@gelteq.com

FAQ

When will Gelteq (GELS) ship the increased order to Healthy Extracts?

Gelteq expects to ship the increased order to Healthy Extracts in January 2025.

By what percentage did Healthy Extracts increase their order of Gelteq (GELS) products?

Healthy Extracts increased their initial purchase order of Gelteq's collagen and Mynus sugar blocker gels by 50%.

What products are included in Healthy Extracts' increased order from Gelteq (GELS)?

The increased order includes Gelteq's collagen and Mynus sugar blocker gels.

When will Gelteq (GELS) announce new products with Healthy Extracts?

Gelteq and Healthy Extracts expect to announce new products in early 2025.