New Wave Partnership with Purity Life as First Step to Increase WAY OF WILL's Canadian Market Presence

Rhea-AI Summary

New Wave Holdings Corp. (CSE: SPOR, OTCPK: TRMNF) has partnered with Purity Life Health Products LP to boost the Canadian presence of its aromatherapy brand, WAY OF WILL. This strategic alliance aims to expand WAY OF WILL's distribution across over 7,000 Canadian stores. Additionally, Willie Tsang has been appointed as Interim CEO, replacing Daniel Fox, and 1 million stock options have been granted for management and employees. This collaboration is expected to enhance the brand's visibility and sales in Canada.

Positive

• Partnership with Purity Life to enhance WAY OF WILL's market presence.
• Access to over 7,000 retail locations in Canada.
• Willie Tsang's extensive experience in e-commerce and product development.

Negative

• Immediate CEO transition may introduce management uncertainty.

TORONTO, March 1, 2021 /PRNewswire/ - NEW WAVE HOLDINGS CORP. (the "Company" or "New Wave") (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNF) an investment issuer that provides capital and support services, is pleased to announce its newest partnership with leading Canadian distributor of health and wellness products, Purity Life Health Products LP ("Purity Life").

WAY OF WILL (an aromatherapeutic wellness brand under New Wave) and Purity Life formally launched their partnership on February 25, 2021, signifying the beginning of New Wave's long-term plans to expand the presence of its subsidiary, WAY OF WILL, in the Canadian market. WAY OF WILL is a health and wellness brand best known for its large selection of aromatherapy and body-care products for active lifestyles.

Established in 1984, Purity Life is Canada's largest distributor of natural healthy-living and wellness products and currently supplies products from dietary supplements to natural body care to over 7,000 stores nationwide. The company works with a large number of widely recognized food, drug, and mass retailers—including Whole Foods Market Canada, Loblaws, and Shoppers Drug Mart—and is also a multi-year winner of the CHFA Supplier of Excellence award.

"Over the years, we've had tremendous success in the United States as a trusted natural wellness and body-care brand," said Willie Tsang, founder and CEO of WAY OF WILL. "We are thrilled to be working with the leading Canadian distributor of health and wellness products, whose vision and core values align so well with our own. I have no doubt that WAY OF WILL will achieve comparable success in Canada as we have in the States with the help of Purity Life."

In the upcoming months, Purity Life will be representing the full range of Way of Will products. Canadian customers can look forward WAY OF WILL's full range of wellness products available mass retailers nation wide.

Executive management change

The Company announces that Mr. Willie Tsang has been appointed to the position of Interim Chief Executive Officer of the Company. Mr. Tsang has founded multiple businesses, focusing in sourcing international manufacturers in China, Thailand, Vietnam, Canada and the US, growing sales to over $1M in 3-years. He brings over 12 years of experience in ecommerce, wholesale and product development, and has extensive experience managing the sales and distribution process. Mr. Tsang holds a Bachelor degree in Industry Design.

Willie Tsang replaces Daniel Fox, who is resigning from the position of CEO effective immediately. The Company thanks Mr. Fox for his significant contributions and wishes him the best in future endeavours.

The Company also announces a grant of 300,000 stock options at a price of $0.13 to Mr. Tsang and the grant of 700,000 stock options at a price of $0.13 to employees and consultants. The options vest immediately and are exercisable for a period of 5 years from the date of grant.

ABOUT NEW WAVE HOLDINGS CORP.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTCPK: TRMNF) is an investment issuer focused on the burgeoning nutraceutical and psychedelic sector and support for adaptive and progressive health and wellness products and therapies. New Wave subsidiaries contain various health and beauty products within its portfolio of non-psychoactive plants and fungi as it continues to expand its product distribution through vertical integration to provide end to end solutions while capturing a high margin business model.

Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com.

Information relating to WAY OF WILL INC., contained in this news release was provided by WAY OF WILL INC. and/or its agent and has not been independently verified by the Company. The Company does not take responsibility for the accuracy of such information.

The CSE has not in any way passed on the merits of the Acquisition, and neither has approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. 

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward–looking information, including but not limited to, applicable regulatory approval in connection with the Acquisition, the closing of the Acquisition, expansion of operations, size and quality of future tournaments and projections regarding attendance at future events. Forward–looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward–looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company's actual results could differ materially from those anticipated in this forward–looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward–looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

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SOURCE New Wave Holdings Corp.

FAQ

What is the significance of New Wave's partnership with Purity Life?

The partnership aims to expand the market presence of WAY OF WILL, increasing distribution across Canada.

Who is the new Interim CEO of New Wave Holdings Corp.?

Willie Tsang has been appointed as the Interim CEO, taking over from Daniel Fox.

How many stock options were granted to New Wave's management?

New Wave announced the grant of 1 million stock options to management and employees.

When did New Wave's partnership with Purity Life start?

The partnership was officially launched on February 25, 2021.

What products does WAY OF WILL specialize in?

WAY OF WILL specializes in aromatherapy and body-care products designed for active lifestyles.