Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF; FRANKFURT:93X) (the “Company” or “Element”), is pleased to announced that it has commenced commercial production for Rejuvenate™ Muscle Activator stick packs with a co-packing partner in the United States.
The first production batch is expected to be completed in August 2022. The new stick packs and newly designed packaging will be distributed through the Company’s network of retailers, including CVS in the United States as well as Canadian retailers such as Shoppers Drug Mart, Loblaws and Rexall. Element estimates that Rejuvenate™ Muscle Activator stick packs are accretive to its profitability, adding approximately 10% to gross margin.
The commercial production for Rejuvenate™ Muscle Activator stick packs follows the commencement of production trials for Rejuvenate™ Muscle Activator a ready-to-drink beverage, which was announced on May 30, 2022. Both products use Element’s patented amino acid formulation which is proven to result in muscle protein synthesis of 57%1 given the formulation’s composition, which is estimated to be 150% greater as compared to an average whey-based protein powder2. Rejuvenate™ Muscle Activator stick packs will be available in citrus blast, raspberry and fruit punch.
Stuart Lowther, Chief Executive Officer, commented, “We are rapidly converting our innovation pipeline into consumer products for large consumer markets and we are doing it efficiently by leveraging our proprietary patented amino acid formulation. Rejuvenate™ Muscle Activator has the potential to gain significant market share in the whey protein market based on its proven efficacy and functional attributes, and we look forward to announcing purchase orders with our retail partners in the near term to bring this product to market.”
The global whey protein market is currently estimated to be US$11 billion and is expected to increase to over US$18 billion by 20293. The functional beverage market in the United States is currently estimated to be over $48 billion, growing to over 6.6% CAGR by 20254. The continued growth in these markets is expected to be driven by increasing demand for products that are consistent with a healthy diet and active lifestyle.
Element is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 50. Element’s lead product, Rejuvenate™, is a proprietary formulation that is clinically proven to assist in the rebuilding, restoration and rejuvenation of natural loss of muscle mass due to aging or other medical conditions. Element also offers JAKTRX™, an elite brand of performance supplements. Element was founded in 2015 and is located in Burlington, Ontario.
To learn more about Element, visit elmtinc.com.
More information about Rejuvenate™ can be found at: www.rejuvenatemuscle.com
More information about JAKTRX™ and Promino™ can be found at: www.jaktrx.com
Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward looking statements relate, among other things, to: the timing and distribution channels for the Rejuvenate™ Muscle Activator launch, including receiving purchase orders from distribution partners, its impact to profitability and the potential market size for Rejuvenate™ Muscle Activator.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company’s products; availability of distribution channels for the Company’s product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company’s proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company’s products in the United States and Canada; customer and distributor relations; fluctuations in securities markets; and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
1 David D. Church, Arny A. Ferrando, and Robert R. Wolfe. Department of Geriatrics, Donald W. Reynolds Institute on Aging, Center for Translational Research in Aging & Longevity, University of Arkansas for Medical Sciences, Little Rock, AR, USA.
2 Paddon-Jones D, Sheffield-Moore M, Katsanos CS, Zhang XJ, Wolfe RR. Exp Gerontol2006; 41:215-219.
3 Whey Protein Market Size, Share & Growth Report [2022-2029] (fortunebusinessinsights.com).
4 Euromonitor, July 2021 -Data ending 2021.