Torque Lifestyle Brands JV Expands Production Space with Brand New 20 sq ft Facility on back of $4m Purchase Order

Rhea-AI Summary

Torque Lifestyle Brands Inc. (OTC Pink: TQLB) announced the opening of a new manufacturing facility in Austin, Texas, poised to enhance production capabilities significantly. The facility will feature advanced equipment capable of producing 20,000 sachets and stick packs daily, alongside new lines for capsules and powders. With a confirmed $4 million order from GNC partner Glaxon, Torque aims to meet increasing demand in the nutritional supplement sector. The company recently divested from American Metabolix, adding $500,000 to its balance sheet.

Positive

• New manufacturing facility in Austin, Texas, expands production capacity.
• Confirmed $4 million order from GNC partner Glaxon.
• Invoiced revenues exceeding $1 million reported.

Negative

• None.

WHEAT RIDGE, CO, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Torque Lifestyle Brands Inc. (OTC Pink: TQLB) (“Torque” or the “Company”), an emerging leader in the manufacture of active lifestyle sports nutrition and supplements, is excited to announce it has opened its new Texas manufacturing facility.

Commenting on the development, Chief Operating Officer, Michael Bischoff stated that “the new production facility will have new sachet packing equipment which can service 20,000 packs and stick packs per day early 2022 as well as having a new dual-head powder filling line which will give the facility the capability to fill 10,000 units of product for per day once they come online.” He continued, “outside of the ‘powders’ we are already filling orders for, we have the new ‘capsule’ or ‘pill’ machines which will count and fill 15,000 units per day when we start that line up in the latter half of 2022. Zero Torque is shaping up to be a monster producer of pills and powders for the nutritional supplements industry.”

Zero Torque Manufacturing LLC currently supports the production of both Glaxon (www.glaxon.com) for GNC and Storm Lifestyles (www.stormlifestyles.com) both of which are brands that will have huge market pull. Glaxon was recently picked up by GNC as part of a new GNC partnership and Storm is launching in January and ramping up production of the Storm ‘Focus’ and ‘Pre-Workout’ products to accommodate for inventory requirements will begin in the coming days and weeks. Outside of those two initial partners, Zero Torque will be opening up capacity throughout 2022 to further brands requiring significant inventory production and expects to carve out a niche for itself, especially during COVID, by ensuring it has raw material inventory sufficient to run continuous operations and fill very large orders very fast.

The manufacturing facility, which occupies 20k sq foot near critical infrastructure in Austin, TX and is being setup so as to support existing orders and operations and will not only fulfil the $4m orders already received from Glaxon, but also fulfil orders expected over the coming weeks from American Metabolix Inc’s “Storm Lifestyles”.

The Company divested of its American Metabolix, Inc. subsidiary in August 2021, including Storm, and that brought in $500,000 of non-dilutive cash onto the balance sheet upon closing.

Torque recently announced that Zero Torque, the company’s majority owned JV subsidiary, had secured a $4m purchase order from GNC Partner ‘Glaxon’ (www.glaxon.com) as well as Torque already showing invoiced revenues on its P&L in excess of $1m. GLAXON is one of the fastest growing and most innovative brands in the active nutrition space. That growth has been driven by disruptive thought-provoking branding, product education, and transparent supplements that provide lifestyle solutions. GLAXON products have already received multiple industry awards in less than two years since launch and will now be manufactured at the Zero Torque Facility in Texas.

About Torque Lifestyle Brands Inc.
Torque Lifestyle Brands Inc. (OTC Pink: TQLB) is focused on its manufacturing JV approach and  driving performance through partnerships, JV’s and acquisitions in the nutritional supplements space.

Cautionary Statement Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding departure of the company’s CEO. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target,” “intend” and “expect” and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

Corporate Contact:
invest@torquelb.com

Investor Relations Contact:
EDM Media, LLC
https://edm.media

FAQ

What is the significance of Torque's new manufacturing facility in Texas for TQLB?

The new facility in Texas enhances Torque's production capabilities, enabling them to meet increased orders and efficiently produce nutritional supplements.

What orders has Torque Lifestyle Brands secured recently?

Torque has secured a $4 million purchase order from Glaxon, a partner associated with GNC.

How much revenue has Torque reported recently?

Torque has reported invoiced revenues exceeding $1 million.

What cash benefit did Torque realize from divesting its subsidiary?

Torque gained $500,000 in non-dilutive cash from the divestment of American Metabolix, Inc.

What production capabilities will the new facility provide for TQLB?

The facility will support production of 20,000 sachets and stick packs per day, along with 10,000 units of powder and 15,000 capsule units daily.