Glow Lifetech Provides Commercial Update; Achieves #3 Brand in Oils, Accelerates Retail Distribution, Strengthens Balance Sheet for Sustained Growth
Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) has achieved significant milestones in its commercial growth. The company's MOD™ brand has become the #3 brand in Ontario's cannabis oils category and the #1 brand innovation in oils for 2024 to-date. Glow has expanded its retail footprint, with its product portfolio now available in over 600 retail cannabis stores in Ontario, representing a 42% increase in distribution points compared to Q2 2024.
The company recently launched MOD™ THC Drops 300, a 300mg 3-pack of flavourless water-soluble drops with quick onset. Glow has also strengthened its financial position through a $1.2 million private placement completed in September 2024, providing increased flexibility to accelerate its growth agenda. The company is focused on expanding distribution, driving product innovation, and scaling across new markets.
Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) ha raggiunto importanti traguardi nella sua crescita commerciale. Il marchio MOD™ è diventato il terzo marchio nella categoria degli oli di cannabis in Ontario e il primo per innovazione negli oli per il 2024 fino ad oggi. Glow ha ampliato la sua presenza al dettaglio, con il suo portfolio di prodotti ora disponibile in oltre 600 negozi di cannabis al dettaglio in Ontario, rappresentando un aumento del 42% nei punti di distribuzione rispetto al secondo trimestre del 2024.
L'azienda ha recentemente lanciato MOD™ THC Drops 300, un pacco da 3 con gocce solubili in acqua senza sapore da 300mg con un rapido effetto. Glow ha inoltre rafforzato la propria posizione finanziaria attraverso un collocamento privato da 1,2 milioni di dollari completato a settembre 2024, fornendo maggiore flessibilità per accelerare la propria agenda di crescita. L'azienda è focalizzata sull'espansione della distribuzione, sulla promozione dell'innovazione dei prodotti e sull'espansione in nuovi mercati.
Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) ha logrado hitos significativos en su crecimiento comercial. La marca MOD™ se ha convertido en la tercera marca en la categoría de aceites de cannabis en Ontario y en la primera marca en innovación de aceites para 2024 hasta la fecha. Glow ha ampliado su presencia en el mercado minorista, con su cartera de productos ahora disponible en más de 600 tiendas de cannabis en Ontario, lo que representa un aumento del 42% en los puntos de distribución en comparación con el segundo trimestre de 2024.
La compañía lanzó recientemente MOD™ THC Drops 300, un paquete de 3 gotas solubles en agua, sin sabor, que contienen 300mg y tienen un inicio rápido. Además, Glow ha fortalecido su posición financiera a través de un colocación privada de 1,2 millones de dólares completada en septiembre de 2024, brindando flexibilidad para acelerar su agenda de crecimiento. La empresa se centra en expandir la distribución, impulsar la innovación en productos y escalar en nuevos mercados.
Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF)는 상업적 성장에서 중요한 이정표를 달성했습니다. MOD™ 브랜드는 온타리오의 대마유 브랜드 중 3위에 올랐으며 2024년 현재 대마유 혁신 부문에서 1위를 기록하고 있습니다. Glow는 소매 발자국을 확장하여 온타리오의 600개 이상의 대마소매점에서 제품 포트폴리오를 제공하고 있으며, 이는 2024년 2분기 대비 42% 증가한 배급 지점을 나타냅니다.
회사는 최근 MOD™ THC Drops 300을 출시했으며, 이는 빠른 효과를 지닌 무미의 수용성 방울로 300mg의 3팩입니다. Glow는 또한, 2024년 9월에 완료된 120만 달러의 사모펀드를 통해 재정적 위치를 강화하여 성장 계획을 가속화할 수 있는 유연성을 제공하고 있습니다. 이 회사는 배급 확장, 제품 혁신 추진, 새로운 시장으로의 확대에 집중하고 있습니다.
Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) a atteint des jalons significatifs dans sa croissance commerciale. La marque MOD™ est devenue la 3ème marque dans la catégorie des huiles de cannabis en Ontario et la première pour l'innovation des huiles en 2024 jusqu'à présent. Glow a étendu sa présence au détail, avec son portefeuille de produits désormais disponible dans plus de 600 magasins de cannabis au détail en Ontario, représentant une augmentation de 42 % des points de distribution par rapport au deuxième trimestre 2024.
L'entreprise a récemment lancé MOD™ THC Drops 300, un package de 3 gouttes solubles dans l'eau, sans goût, de 300mg avec un effet rapide. Glow a également renforcé sa position financière grâce à un placement privé de 1,2 million de dollars réalisé en septembre 2024, offrant une plus grande flexibilité pour accélérer son agenda de croissance. L'entreprise se concentre sur l'expansion de la distribution, la promotion de l'innovation produit et l'élargissement sur de nouveaux marchés.
Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) hat bedeutende Meilensteine in seinem kommerziellen Wachstum erreicht. Die MOD™-Marke ist zur drittgrößten Marke in der Kategorie Cannabisöle in Ontario geworden und zur innovationsstärksten Marke bei Ölen für 2024 bis heute. Glow hat seine Einzelhandelspräsenz ausgeweitet, und das Produktportfolio ist nun in über 600 Einzelhandelsgeschäften für Cannabis in Ontario erhältlich, was eine Steigerung der Vertriebsstellen um 42 % im Vergleich zum 2. Quartal 2024 darstellt.
Das Unternehmen hat kürzlich MOD™ THC Drops 300 eingeführt, ein 300 mg 3er-Pack geschmackloser wasserlöslicher Tropfen mit schneller Wirkung. Glow hat zudem seine Finanzlage durch eine 12 Millionen Dollar schwere Privatplatzierung, die im September 2024 abgeschlossen wurde, gestärkt, was mehr Flexibilität zur Beschleunigung der Wachstumsagenda ermöglicht. Das Unternehmen konzentriert sich darauf, die Verteilung auszubauen, Produktinnovationen voranzutreiben und in neue Märkte zu expandieren.
- MOD™ brand achieved #3 position in Ontario's cannabis oils category
- 42% increase in retail distribution points compared to Q2 2024
- Product portfolio expanded to over 600 retail cannabis stores in Ontario
- Successful launch of MOD™ THC Drops 300
- $1.2 million private placement completed to strengthen balance sheet
- None.
Toronto, Ontario--(Newsfile Corp. - October 22, 2024) - Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) (FSE: 9DO) ("Glow" or the "Company") is pleased to provide a commercial update marking a significant milestone as the Company achieves the #3 position in Ontario's cannabis oils category. This success is driven by robust product innovations and strategic launches in the first half of 2024, enabling Glow to strengthen its market presence and continue its growth momentum across Ontario and beyond.
Growth Momentum: Expanded Retail Footprint
Glow continues to gain strong commercial traction across Ontario, with its entire product portfolio of 11 SKUs expanding into more than 600+ retail cannabis stores - a
"Our expanded store penetration demonstrates the growing demand for Glow's differentiated products and innovative technology," said Rob Carducci, CEO of Glow Lifetech. "We see a clear path to driving further growth in the Ontario market and across Canada; our success in Ontario streamlines the process for expansion into other provinces."
Category-Leading Market Share: MOD™ Achieves #3 Brand in Oils
Glow has achieved a notable market leadership position with its MOD™ brand, which is now the #3 brand in Ontario's oils category and the #1 brand innovation in oils for 2024 to-date.[1] This success highlights consumer demand for our unique and innovative products. MOD™ not only disrupts the oils market but also appeals across various product segments, including edibles, beverages, and other oral extracts. The Company's innovation continues to lead the market, with Glow's recently launched MOD™ THC Drops 300, a 300mg 3-pack of flavourless water-soluble drops with quick onset and no bitter cannabis taste.
"The strong performance of our MOD™ brand showcases our ability to disrupt the market with products that resonate with consumers and our position as a leading innovator in the cannabis market," said Rob Carducci, CEO of Glow Lifetech. "As we continue to strengthen our presence with MOD™, we are equally optimistic about our .decimal™ capsules, which are well-positioned to follow a similar path to success and establish its own market leadership in the near future."
Strengthening Balance Sheet to Fuel Growth
Glow recently bolstered its financial position through a
"Our strengthened financial position enables us to continue executing on our growth strategy, with a focus on expanding distribution, driving product innovation, and scaling across new markets," said Rob Carducci, CEO of Glow Lifetech. "The success of our initial go-to-market programs has validated our approach, and we're excited to accelerate our brand-building efforts across Canada. By deepening our connections with budtenders and consumers, we aim to drive further growth and solidify our position as a leader in the industry."
SUBSCRIBE: For more information on Glow or to subscribe to the Company's mail list visit: https://www.glowlifetech.com/news.
About Glow Lifetech Corp
Glow Lifetech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has a groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.
Website: www.glowlifetech.com
Contact:
James Van Staveren
Glow Lifetech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the technology described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca
[1] Based on 2024 OCS Wholesale Data, Year to Date
[2] https://glowlifetech.com/news/glow-announces-closing-of-1200000-private-placement/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227413
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