(TheNewswire)
GNC Ventures, an innovation and technology armaffiliated with GNC, partners with plant-based and eco-friendlyproduct manufacturer
Mississauga, Ontario – The Newswire – August 4, 2022 –PlantFuel Life Inc. (CSE:FUEL) (CNSX:FUEL.CN) (OTC:PLFLF) (FSE:BR1B)(“PlantFuel” or the “Company”) thescientifically focused plant-based wellness company is pleased to announce its equity partnership with GNCVentures, an innovation and technology arm affiliated with GNC, aglobal health and wellness brand. GNC Ventures is designed to uncoverand strategically partner with companies leading category innovationthrough unique attributes, multi-touchpoints,and a consumer-centric mindset.
“This partnership with GNC Ventures marks a majormilestone for PlantFuel that will help propel our growth and productofferings alongside one of the largest health and wellness brands inthe world , ” says BradPyatt, Founder/CEO of PlantFuel. "Our coreteam spent several years developing what we believe is the future ofperformance and nutritional supplements, and with the support of GNC,we’ll be the most disruptive brand the industry has seen.”
With the addition of PlantFuel GNC Ventures is growingits portfolio of partner brands all of which share a commitment tohelping consumers Live Well.
Affiliated with GNC, one of the largest health andwellness retailers in the world, and introduced in late 2021, GNCVentures is a core part of the retailer’s renewed strategic focus oninnovation and serves as an incubator for unique, emerging, andinnovative brands. GNC Ventures has entered an equity partnership withPlantFuel, positioning the brand as it’s go-to plant-based andsustainability-friendly company. PlantFuel’s premium cleanplant-based ingredients, eco-friendly packaging, dynamic marketingstrategy, celebrity-driven ambassadors, and its buy-one/give-onecause-related partnership with One Tree Planted make it a greatpartner within the GNC eco-system.
“Our commitment from GNC Ventures reiterates ourconfidence in PlantFuel’s ability to change the plant-basedperformance category,” said Yong Kai Wong, Executive Vice Chairman,GNC. “We are seeing an uptick in consumer interested in vegan andplant-based options and will look to PlantFuel to help us deliver onthat opportunity. We look forward to strengthening our relationshipover the coming years and serving consumers across North America.”
D eveloped by athletes, formulatedby doctors, and clinically proven for optimal performance , PlantFuel is a premium plant-based health and wellnesscompany founded by former NFL player and serialentrepreneur Brad Pyatt. PlantFuel’scommitment to “good for the body good for the earth” aims to deliver the absolute best-possible products thatbridge the gap between plant-based nutrition and peak performance,alongside eco-conscious and responsibly sourced packaging. Since PlantFuel’s inception in 2021, the brandhas built an impressive network of ambassadors that include NFL Hallof Famer TerrellOwens , international music artist Lil Yachty, NCAA football star Spencer Rattler ,national gymnast OliviaDunne , television actress Megan Fox,singer Lucy Hale, NASCAR driver Natalie Decker , and many more. PlantFuel’s equity partnership with GNCVentures will propel the brand’s business growth and deliverindustry-disrupting products to millions of GNC consumersnationwide.
As the first plant-based brand selected by GNCVentures, the partnership will accelerate PlantFuel’sspeed-to-market and assortment of premium solutions accessible tomillions of consumers.
In connection with the partnership, the Company wouldissue a total of 5,000,000 performance warrants to GNC. Eachperformance warrant entitles the holder to purchase one common shareof the Company at a price of CAD$0.23 for a period of 5 years from thedate of issuance. The performance warrants will only becomeexercisable upon the achievement of certain milestones (with 1,050,000 of the performance warrants beingexercisable upon the Company having received US$1,500,000 in totalpurchases from GNC during calendar 2022, 1,850,000 of the performancewarrants being exercisable upon the Company having receivedUS$3,000,000 in total purchases from GNC during calendar 2023 and2,100,000 of the performance warrants being exercisable upon theCompany having received US$4,000,000 in total purchases from GNCduring calendar 2024). Additionally, the performance warrantscontain a feature that would permit the “net issuance” of thewarrants on a “cashless exercise” basis, based on the market priceof the Company’s at the time of the exercise.
The issuance of the performance warrants remainssubject to the receipt of the approval of the Canadian SecuritiesExchange.
AboutGNC
GNC is a leading global health and wellness brand thatprovides high-quality, science-based products and solutions consumersneed to live mighty, live fit and live well.
The brand touches consumers worldwide by providing itsproducts and services through company-owned retail locations, domesticand international franchise locations, digital commerce and strongwholesale and retail partnerships across the globe. GNC's diversified,multi-channel business model has worldwide reach and awell-recognized, trusted brand. By combining exceptional innovation,product development capabilities and an extensive global distributionnetwork, GNC manages a best-in-class product portfolio. www.gnc.com .
About PlantFuel Life Inc.
PlantFuel Life Inc. is a scientifically focused,plant-based wellness company managed by successful entrepreneurs withextensive experience in the areas of consumer-packaged goods,manufacturing, logistics, and distribution. https://plantfuellife.com/
Brad Pyatt
brad@plantfuel.com
The Canadian Securities Exchange ("CSE") hasneither approved nor disapproved the contents of this news release.Neither the CSE nor its Market Regulator (as that term is defined inthe policies of the CSE) accepts responsibility for the adequacy oraccuracy of this release.
Forward ? Looking Information Cautionary Statement
This press release may contain certain“forward-looking information” and “forward-looking statements”within the meaning of applicable Canadian securities legislation. Allinformation contained herein that is not historical in nature mayconstitute forward-looking information. Forward-looking statements maybe identified by statements containing the words “believes”,“anticipates”, “plans”, “intends”, “will”,“should”, “expects”, “continue”, “estimate”,“forecasts” and other similar expressions. Forward-lookingstatements herein include, but are not limited to, expectations ofmanagement’s focus on and growth expectations of the PlantFuel brandand the Company’s business and strategic plans. Readers arecautioned to not place undue reliance on forward-looking information.Actual results and developments may differ materially from thosecontemplated by these statements. PlantFuel undertakes no obligationto comment analyses, expectations or statements made by third partiesin respect of PlantFuel, its securities, or financial or operatingresults (as applicable). Although PlantFuel believes that theexpectations reflected in forward-looking statements in this pressrelease are reasonable, such forward-looking statements have beenbased on expectations, factors and assumptions concerning futureevents which may prove to be inaccurate and are subject to numerousrisks and uncertainties, certain of which are beyond PlantFuel’scontrol, including the risk factors discussed in PlantFuel’s ListingStatement dated August 22, 2019 which is available on PlantFuel’sSEDAR profile at www.sedar.com. The forward-looking informationcontained in this press release is expressly qualified by thiscautionary statement and are made as of the date hereof. PlantFueldisclaims any intention and has no obligation or responsibility,except as required by law, to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise.
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