MONTREAL, March 22, 2022 /CNW/ - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of natural health products, is pleased to provide an update to announce that the corporate strategy and plans that were put place in 2021, are continuing to prove successful with Lumiera's fiscal Q1'22 being another strong quarter with sales +25% vs Q1 2021.
The increase in the Company's sales has been driven by the new sales and in-store training team deployed late last year. The team is helping build distribution and training key in-store influencers on the benefits of Lumiera's products. In addition, Lumiera is continuing to build online sales with e-retailers such as Amazon and Lumiera's own Holizen.ca and Awaye.ca websites.
"Following the launch of the new corporate strategy developed in the first half of 2021, I'm very pleased to say that the growth we began to experience in Q3'21 led to record sales in Q4'21, and another strong quarter in Q1'22. Based on our success, we are increasing our investment in inventory to enable us to capitalize on additional growth opportunities. From a profitability perspective, we are particularly excited by the fact that our growth is also leading to increased margins," says Carlos Ponce, CEO of Lumiera. "Moving forward, we are laser focused on increasing our retail and online distribution; based on the positive feedback we have from people that have tried our Bazzzics sleep aids and Awaye pain relief cream, we know that distribution expansion leads to accelerated sales growth and we expect revenues to increase exponentially."
Management will continue executing its plan for growth and expects to see the upward sales trends continue for the foreseeable future.
Audited financial statements will be released on or before March 31, 2022.
About Lumiera Health
Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also developing and commercializing a unique range of products acting on the endocannabinoid system and offering novel solutions for the treatment of acute and chronic pain. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Our goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.
For more information visit: www.lumiera.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions. Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2020, which is available under the issuer's SEDAR profile at www.sedar.com. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Lumiera does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
SOURCE Lumiera Health Inc.
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