MONTREAL, Aug. 20, 2021 /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 announce that it has received approval to sell topical products on the Amazon platform and that its Awaye™ Pain Relief Cream has been sent to Amazon's fulfillment center and is now available for sale to customers across Canada.
Awaye™ provides a new generation of relief from acute and chronic pain by acting on the CB2 receptors of the endocannabinoid system, the body's built in pain and inflammation defense system. Awaye™ is a unique Health Canada approved topical cream that provides relief from pain through complimentary mechanisms of action not found in any other product currently available on the market.
"Our Amazon presence is an important pillar in executing our e-Commerce strategy" says Carlos Ponce, CEO of Lumiera. "After the successful launch of Awaye's brand-owned e-Commerce website, the company has been focused on partnering with high traffic e-Commerce platforms to expand our online distribution. We expect that Amazon will be an important sales channel for Lumiera's products.".
Issuance of stock options
The Board of Directors of the Company has approved, by resolution, on August 20th, the granting of 2,300,000 stock options to directors and officers of the Company. The exercise price of the options is $0.05 (the closing price of the shares on August 19th, 2021, was 0.035). The options are fully vested and have an expiry date of August 19th, 2031. The above-mentioned options have been granted pursuant to the Lumiera Stock Option Plan. Following this stock option grant the Company has a total of 3,013,335 stock options outstanding, which represents less than 2% of the Company's issued and outstanding common shares.
Capital Reimbursement and Amendment to Note
By way of an update following the announcement of the Company's private placement on August 6th 2021, Lumiera announces that it has entered into an amending agreement with its third party lender in respect of the outstanding Note, the principal amount of which currently stands at $1,650,000. As part of the amendment agreed with the lender, the Company is reimbursing $225,000 in capital and will now increase its monthly payments to $20,000 in order to reduce the principal amount owing under the Note. In addition, the Company and the lender agreed to extend certain of the covenants in order to provide the Company with additional flexibility in executing its business plan.
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 innovation of plant-based health solutions, the Lumiera brand is rooted in the core values of science, nature and compassion. Passionate about making people feel better, we deliver trustworthy and scientifically proven solutions that work with the body's own systems.
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.
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.
For further information: Lumiera Health Inc., Simon Castonguay, Interim Chief Financial Officer, 514-880-7772, [email protected]