New Wave Subsidiary, Way of Will Inc., to Roll Out All-Natural SPF Lotion in 2022
New Wave Holdings Corp. (OTCPK: TRMNF) announced the development of an all-natural SPF lotion under its subsidiary, Way of Will, set for a 2022 launch. This new product aims to cater to growing consumer demand for natural skincare solutions in the sun-care market, projected to reach $16.5 billion by 2027. The lotion will undergo rigorous testing for FDA approval, including evaluations for UVA/UVB protection and water resistance. Way of Will's founder emphasized the importance of natural ingredients as the market shifts toward healthier skincare options.
- Development of an all-natural SPF lotion targets a growing market valued at $16.5 billion by 2027.
- Confirmed buyer interest from key accounts in Canada and the U.S.
- The product is still in development and pending FDA approval, which introduces delays.
- No financial metrics are provided to assess the immediate impact on revenue.
TORONTO, March 9, 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, announces the development of an all-natural SPF lotion to be launched in 2022 that will become a part of Way of Will's athletic collection.
Way of Will, a health and wellness brand known for its large selection of high-quality, aromatherapy-based wellness products, is developing an all-natural SPF lotion into its active lifestyle line which will be introduced next year. This development is a response to customer demands and the company has confirmed buyer interest from key accounts in both Canada and the U.S. The goal of this development allows us to open doors and enter the global sun-care industry with a market size estimated at 13.03 billion USD in 2019 and has been steadily climbing and expected to surpass 16.5 billion by 2027.
Joining other popular products that are geared towards athletes and fitness enthusiasts of all levels, the Way of Will SPF lotion will boast the same all-natural, skin-loving properties that many of Way of Will's products are known and loved for. The product is being designed and developed by Mr. Iman Navab, one of New Wave's advisory board members, who is a homeopathic practitioner, researcher, botanist and historian of homeopathy. Mr. Navab is also the founder of Dynamise, a company that focuses on the development and creation of natural skincare and health products that are backed by science and research.
In preparation for the launch, the SPF lotion will soon be undergoing the testing stage to obtain FDA approval. The assessment will involve:
- An in vitro critical wavelength evaluation to test the product's effectiveness in UVA and UVB radiation protection (the assessment takes approximately one week to complete and is required for all products possessing UVA and UVB coverage that has an SPF 15+ claim);
- A water resistance test spanning approximately six weeks that comprises of an initial screen study evaluating the formula's ability to meet the expected SPF/WR standards, after which a full-panel validation is to be conducted before receiving a formal test result; and
- A sweat resistance test that requires the same evaluation process as the water resistance test.
"The sun-care industry has seen significant growth in recent years due to increasing awareness and discussion surrounding skin care, skin-damage prevention, and skin protection. North America and Europe make up approximately one-third of the product consumption in the sun-care market, as these demographics increasingly prioritize overall skin health and skin care," said Willie, founder and CEO of Way of Will. "This all-natural SPF lotion is going to be a great addition to our active lifestyle collection. We understand that a lot of sports and physical activities take place outside – especially now with so many gyms and sports arenas being closed. We want to make sure that our customers have a healthy, natural SPF product that actually works and protects their skin without harsh chemicals found in traditional sun-care products."
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.
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