DENVER, April 2, 2012 /CNW/ - MusclePharm Corporation, a Nevada corporation ("MusclePharm" or the "Company") (OTCBB: MSLP.ob - News), a nutritional supplement company focusing on all categories of an active lifestyle, is pleased to announce that it has opened its first office in Canada.
"Canada is a core market for Fitness as well as the Mecca for UFC," said Brad Pyatt, CEO of MusclePharm. "In the next 36 months, we plan to expand our offices further, into the UK, Middle East and Latin America."
Stringent Canadian regulatory rules mean this market is relatively untapped from US dominant brands, and MusclePharm has been diligent with obtaining all the proper licensing and Health Canada approvals, which has taken nearly 2 years. As of today MusclePharm Canada is a fully active compliant division of MusclePharm that will jump start our growth in the Canadian market.
"We welcome Renzo Passaretti as MusclePharm Canada President," Pyatt said. "His 22 years of Health and Food business experience in Canada and 15 running Distributor American Nutrition will help us compete more efficiently and gain significant market share quickly. His experience will play a key role in us going direct with our retailers."
The Canadian market has over 2000 Health Food Retailers, including GNC® Canada, Popeyes®, Reflex® and over 7000 Drug-Mass market outlets like Wal-Mart®, London Drugs® and Rexel Drugs®.
The MusclePharm Canada operation is poised to capitalize on the UFC momentum in the country. Over 200,000 fans have attended in three host cities: Montreal, Vancouver, and Toronto totaling over $40 million from gate sales. The Toronto event alone drew over 55,000 fans for more than $12 million in gate receipts, pushing the eight-event average to roughly 25,000 in attendance per event. UFC also announced that it planned to return at least three times a year annually through 2014.
"This is just the beginning of part of our strategic Global expansion and Canada is a great starting ground and these are exciting times at MusclePharm," Pyatt said.
ABOUT MUSCLEPHARM CORPORATION
MusclePharm is a healthy lifestyle company that develops and manufactures a full line of NSF International and Informed Choice approved nutritional supplements that are free of banned substances. Based on years of research at the MusclePharm Sports Science Center, the products are created through an advanced six-stage research protocol involving the expertise of top nutritional scientists and field tested by more than one hundred elite professional athletes from various professional sports leagues including the National Football League, Mixed Martial Arts and Major League Baseball. The company's products address all categories of an active lifestyle, including muscle building, weight loss and maintaining general fitness through a daily nutritional supplement regimen. MusclePharm is sold in more than 120 countries and available in over 10,000 U.S. retail outlets, including GNC and Vitamin Shoppe and Vitamin World. MusclePharm products also are sold through more than 100 online stores, including bodybuilding.com, Amazon.com and Vitacost.com. For more information, please visit www.musclepharm.com.
FORWARD LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements, including, but not limited to, becoming a free cash flow business by the end of the 2012 first quarter, relate to future events or to future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Undue reliance should not be placed on forward-looking statements, since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. MusclePharm assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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Roger Pondel/Robert Jaffe
SOURCE MusclePharm Corporation
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