This Order Will Represent PLC’s First Revenues and Confirms the Demand for Its Disruptive Coca Extract Products and Validates the Product Pricing
TORONTO, June 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Power Leaves Corp. (“PLC”), a manufacturer of decocainized coca leaf extract, announced that it has signed a supply agreement with a US beverage manufacturer (the “Customer”) and received its first commercial sales order. The initial order under the supply agreement is for both coca extract and coca essence, each with a sale price of US$100 per litre.
“This is a major milestone for Power Leaves. After years of developing the supply chain and constructing our facilities, we are now commercializing our novel products,” said Pat McCutcheon, Co-Founder & CEO, Power Leaves Corp. “We are thrilled to see demand generated so quickly after the receipt of our sample shipment, and are encouraged by the sale price our extract and essence products were able to command. We believe it speaks to the potential of the ingredient as a whole as well as to the quality of our products.”
This order comes after sample shipments of PLC’s coca extract and essence products were sent to multiple potential customers, including in the United States, Canada, and Australia. PLC expects this order to be followed by others globally, in the coming weeks and months.
PLC has completed the production of the coca essence and coca extract out of its existing facilities and is now preparing the shipment for the Customer. The coca extract and coca essence products are expected to be used for product development and finished beverage products for the US market. Follow-on orders are expected under the supply agreement in the coming months.
About the Products
PLC has developed proprietary coca extracts optimized for flavor and aroma that will serve as the foundation for its commercial products. The coca extract is high in protein, vitamins, and nutrients and has multiple known health benefits including providing gastrointestinal relief, increases in energy, and appetite suppression, among others. Specifically, PLC has two core products:
Coca Extract:
- A crude coca extract with an exceptional flavor profile and packed with an array of nutrients that is ideal for soft drinks and energy drinks.
- The global carbonated beverage market is a $232B(1) opportunity, where "Cola" is the largest segment of the market, with natural cola products struggling to deliver a flavor that pops.
Coca Essence:
- A highly aromatic, terpene-rich concentrate for dilution and blending into alcoholic beverages such as gin, vodka, tequila, and hard seltzer.
- The U.S. alcoholic beverage market is a $283B(2) opportunity and in a "health trend" crisis, needing new, natural-based ingredients to reinvigorate products.
Overall, the global food and beverage industry is experiencing rising demand for natural and nutritious products and ingredients that are free of chemicals and have an exceptional taste profile. Today, the majority of "flavor" agents are chemically synthesized, add zero nutritional value, and require an "artificial flavor" label that reduces customer appeal.
In comparison, PLC’s coca extract products offer a new "hero" ingredient that is immediately recognizable and makes products stand out. As a real food ingredient, PLC’s coca extract can add nutritional value to product labels and be listed as "natural flavors" or directly as "coca extract", increasing the positive health perception of a product.
About Investing In Power Leaves Corp.
Power Leaves is currently accepting investments from accredited investors through a Reg D 506(c) offering. With over US$3.7M raised in the current round, the offering is expected to only be open for a limited time. To learn more about investing in Power Leaves visit invest.powerleaves.com.
About Power Leaves Corp.
Founded in 2019, Power Leaves is breaking the monopoly on the supply of coca leaf extract and ushering in a new Age of Coca. Through an exclusive agreement with an Indigenous community, Power Leaves has developed the first-ever legal Colombian supply chain for decocainized coca extract to supply the global food and beverage markets. Through its established infrastructure, Power Leaves is developing and manufacturing proprietary formulations of coca extract and essence that offer an exceptional taste profile and an all-natural source of protein, nutrients, and positive health benefits. For more information, visit www.powerleaves.com.
Media:
CMW Media
powerleaves@cmwmedia.com
858.221.8001
Investors:
Myra Group
Investor Relations
Evan@myragroup.co
- Market Data Forecast, 2022
- Statista, 2023
Cautionary Notes
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of 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 press 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. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive shareholder, director or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, PLC assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
