VANCOUVER, British Columbia, March 14, 2019 (GLOBE NEWSWIRE) -- LeanLife Health Inc. (CSE: LLP) (the “Company”) a Company focused on plant-based food products is pleased to announce that the Company has signed an agreement with Ecovatec Solutions Inc. (“Ecovatec”), a local Canadian nutraceutical manufacturing company, to provide LeanLife Health the use of its facilities for testing (the “Testing Agreement”).
The Testing Agreement flows from the recent Letter of Intent (“LOI”) LeanLife signed with Ecovatec. It allows for the testing and the creation of samples of LeanLife’s unique plant-based Omega-3 food products in Ecovatec’s advanced manufacturing facility. LeanLife will use this opportunity to validate a new high-volume, high-efficiency sanitary manufacturing process. This testing has the potential to create new intellectual property for the Company and even further improvements in the process LeanLife will use to make its products.
LeanLife expects the testing to commence within the coming weeks.
Following a successful trial run of the new process, samples will be evaluated by an ISO 17025 accredited lab operating with a Health Canada license to ensure product quality and specifications. Additional samples will then be created and sent to customers for their own qualification.
The LOI further contemplates that upon validation of product quality, LeanLife intends to enter into an Interim Production Agreement which will immediately allow the Company to begin meeting customer demand for its products. A Long-term Production arrangement is a further option available to LeanLife under the LOI should customer demand accelerate in the medium term.
“The signing of this Testing Agreement is another significant step forward for LeanLife Health as it moves the Company closer to the commercialization of its unique plant-based Omega-3 food products. It allows for the validation and potential improvement of LeanLife’s manufacturing process in a state-of-the-art facility; and the creation of the high-quality, lab-certified samples our customers have been requesting. Following a definitive agreement for contract manufacturing, LeanLife intends to begin filling existing product orders, marketing to prospective customers and generating revenues,” said Stan Lis, CEO.
About LeanLife Health and the Omega-3 Market
LeanLife Health’s products are shelf-stable extractions from flax seed, a plentiful plant-based source of Omega-3, that give them a significant advantage as a fortified food ingredient.
The products can be used as food additives or as nutraceuticals and have been used to make bread, noodles, cheese, yogurt, juice and milk products for the European market.
LeanLife Health’s industry leading Omega-3 product formulations are of the highest quality and contain no cholesterol. Products are available in oil, emulsion and powder forms.
The global Omega-3 market reached USD $33 Billion in 2016 and is expected to reach upwards of USD $57 Billion by 2025, according to a report by Grand View Research, Inc.
For more information, please contact:
Stan Lis, CEO
604-764-0518
SLis@LeanLifeHealth.com
Forward Looking Information
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control including, the Company's ability to compete with large food companies; sales of any potential products developed will be profitable; the ability to complete sales under the sales agreement. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward- looking information.
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