VANCOUVER, May 7, 2019 /CNW/ - LeanLife Health Inc. (CSE: LLP) (the "Company") a Company focused on plant-based food products is pleased to announce that the Company has completed its testing stage with results that substantially exceeded the Company's expectations.
The completion of this testing marks a major milestone for LeanLife Health Inc. by demonstrating the Company's ability to manufacture its products using a sanitary, scalable, high-volume and high-efficiency process. This accomplishment means the Company is now in a position to move to the commercialization of its unique plant-based Omega-3 food products.
Furthermore, the testing resulted in several valuable improvements in the process that LeanLife will use to make its products.
The improvements in the process, which form new intellectual property the Company intends keep as trade secrets, resulted in a more efficient use of energy and a higher yield of production. When all of the improvements are combined and applied to the Company's capacity estimates, it means LeanLife will be able to produce five-times more product with the same planned equipment purchases but with less labour costs than it expected. This will therefore result in a substantial reduction of future budgeted capital expenditures.
The Company's expectations were also exceeded in the quality of the product it is able to produce.
Preliminary analysis by in-house commercial food analysis equipment and the Simon Fraser University ("SFU") Faculty of Chemistry shows the product to be consistent with specifications and, in most areas, of greater purity than anticipated. The initial analysis also suggests a complete chemical conversion rate of the ingredients to the final product.
The testing resulted in the production of samples which will now be evaluated by a third-party accredited lab to independently confirm the product quality and specifications previously identified by SFU. Additional samples will be sent to customers for their own validation.
Testing was completed by LeanLife using the advanced manufacturing facilities of Ecovatec Solutions Inc. ("Ecovatec"), a local Canadian nutraceutical manufacturing company.
"Completion of this testing phase has validated LeanLife's manufacturing process and resulted in substantial improvements in the efficiency of production and the quality of the product. This result is something the Company has been seeking to accomplish for several years and therefore marks a major milestone," said Stan Lis, CEO. "We are now in a position to produce an even greater quantity of the products our customers have been looking for. 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.
The Company also announces that 500,000 shares are being issued pursuant to an agreement with a consultant.
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.
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.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE LeanLife Health Inc.
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