MusclePharm Closes More Pre-Orders Reaching Pre-Production Sales Goal of $1 Million for MP Performance Energy Line Through Collective Distributors

Rhea-AI Summary

MusclePharm Corporation (OTCMKTS: MSLP) announced the successful closure of $1.0 million in pre-orders for its upcoming MP Performance Energy drink, which is set to ship starting September 2021. Initial market availability is planned for this September, and FitMiss products will hit the shelves by the end of 2021. CEO Ryan Drexler expressed confidence in the beverage line, projecting $30 million in annual sales by 2023. In recognition of the pre-order milestone, MusclePharm will donate 2,500 cases to first responders.

Positive

• Secured $1 million in pre-orders for MP Performance Energy.
• Product launch set for September 2021, expanding market presence.
• CEO projects $30 million in annual sales for the energy line by 2023.

Negative

• Risks related to consumer spending declines affecting demand.
• Potential health or advertising claims could pose risks.

CALABASAS, Calif., Aug. 23, 2021 (GLOBE NEWSWIRE) -- MusclePharm Corporation (OTCMKTS: MSLP), a global provider of leading sports nutrition & lifestyle branded nutritional supplements, today reported that they have closed $1.0 million to date in pre-orders for MP Performance Energy, their new functional energy drink line, through their eight collective distributors. These orders will begin to ship in September 2021. MP Performance Energy will be on shelves in initial markets this September and FitMiss will be on shelves by close of 2021.

Mr. Ryan Drexler, MusclePharm’s CEO and Chairman of the Board, stated, “Our ability to secure multiple top distributors and $1 million in pre-orders before product launch speaks to the strength of our brand name and our new energy business partners. We are just getting started in the functional energy space but I have every confidence in our beverage business and our ability to hit $30 million in annual sales in 2023. In honor of reaching $1 million in pre-order sales we will be donating 2,500 cases of MP Performance Energy to first responders across the United States and will be establishing a charitable fund. We will issue a release with further details on this fund in the coming weeks.”

Forward-Looking Statement

This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” or “continue” or other comparable terminology. Such forward-looking statements only speak as of the date of this press release and the Company assumes no obligation to update the information included in this press release. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, risks relating to consumer spending may decline or that U.S. and global macroeconomic conditions may worsen resulting in reduced demand for the Company’s products, risks relating to changes in consumer preferences away from the Company’s offerings, risks relating to the effectiveness and efficiency of the Company’s advertising campaigns and marketing expenditures, including existing brands and the launch of new brands, which may not result in increased revenue or generate sufficient levels of brand name and program awareness, risks if the Company becomes subject to health or advertising related claims from its customers, competitors or governmental and regulatory bodies, and risks relating to increased competition from other nutrition providers. As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.

This list of risks, uncertainties and other factors is not complete. We discuss some of these matters more fully, as well as certain risk factors that could affect our business, financial condition, results of operations, and prospects, in reports we file from time-to-time with the SEC, which are available to read at www.sec.gov. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the results of any revisions to the forward-looking statements made in this press release.

About MusclePharm Corporation

MusclePharm® is an award-winning, worldwide leading sports nutrition & lifestyle company offering branded nutritional supplements. Its portfolio of recognized properties include the MusclePharm® Sport Series, Essentials Series, and recently-launched Natural Series, as well as FitMiss™ – a product line designed specifically for female athletes. MusclePharm® products are available in more than 100 countries globally, with its Combat Protein product lineup being the company’s most popular.

Contact:

John Mills, Managing Partner
ICR, Inc.
646-277-1254
John.Mills@Icrinc.com

FAQ

What recent financial milestone did MusclePharm Corporation achieve?

MusclePharm Corporation secured $1 million in pre-orders for its MP Performance Energy drink.

When will MP Performance Energy be available in stores?

MP Performance Energy is scheduled to be on shelves in September 2021.

What are the projected sales for MusclePharm's new beverage line?

MusclePharm's CEO projects $30 million in annual sales for the energy beverage line by 2023.

What charitable initiative did MusclePharm announce?

MusclePharm will donate 2,500 cases of MP Performance Energy to first responders in the U.S.