Critical updates include progress on retailer roll-out — new Oki beverages, marketing materials and rebranded Vida+ and Oki websites
VANCOUVER and SAN DIEGO, CA, Jan. 31, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida"), which offers premium beverages and clinical products infused with active hemp extract, announces a corporate business update on milestones achieved and strategic initiatives underway.
Retail Distribution Progress
Management's focus for the last several months has been on meeting with retail store chains in the U.S. to secure retail supply contracts. Discussions are continuing and advancing to finalizing supply contracts with several retailers. Based on the progress made, and verbal commitments received, management is confident of a retail launch of the Oki product line in over 1,000 outlets in early Q2 2019. A new production run of Oki beverages will take place in March 2019 to support the expected demand.
Marketing & Social Initiatives Making Moves in California and Hawaii
The new Feel-Oki campaign directed by the company's L.A.-based creative agency, Sid Lee, was completed and is currently in the final stage production. The campaign is due for market release by the end of this quarter, which will include a social media and paid digital strategy and amplification plan that will start in Q2.
Phivida's marketing team was on-site in Hawaii in early January with Malia Manuel, an Oki ambassador and world-class surfer, where she's been featured in a photo shoot to showcase various new Oki products. The campaign images will start to be published on social media by the end of Q1.
An Oki booth will be stationed at the Natural Products Expo West Trade Show being held on March 5th in Anaheim, CA. Approximately 15,000 units are expected to be sampled with attendance set to exceed 95,000 people during the four-day event.
Vida+ to Host CBD Best Practices Session at 'The Functional Forum' Event in San Diego
On February 11, Vida+ will be hosting an event presented by The Functional Forum in San Diego on the topic of the endocannabinoid system and CBD oil best practices. The event will feature our very own Sunil Pai, MD, from Vida+. As the Clinical Advisor for Vida+ range, Dr. Pai is internationally recognized as an expert in Integrative Medicine, and is an author, radio host, health activist, influencer and thought leader in the wellness industry. Known as the world's largest Integrative Medical Conference, every month The Functional Forum brings together the industry's leading innovators to teach practitioners how to prevent and reverse chronic illness with the latest scientific health news, functional medicine research, practice development, and health technology.
Rebrand of Oki and Vida+ Websites
The newly designed Oki e-store is currently being finalized and expected to be live by the end of Q1. The new site will include a full product assortment of beverages and capsules available for sale to consumers through direct distribution online.
The Vida+ B2B and e-commerce business continues to see increases in monthly revenue growth. Re-design of the refreshed Vida+ website have also begun, with the intention of optimizing the site layout and improving search engine optimization for improved traffic and sales.
Finance & Operations
- Strong current asset position with cash on hand of $11.8 million and no significant liabilities
- Outstanding common shares of 61,736,213
- On a fully diluted basis, Phivida has 73,823,676 shares with additional cash proceeds of $12,326,760
- Currently in the final review stage of contracts with suppliers of its raw materials for 2019 production runs
ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle.
SOURCE Phivida Holdings Inc.
For further information: Website www.phivida.com, Toll free +1 (844) 744-6646 (ext. #2), Email IR@phivida.com; Jim Bailey, President and CEO, Phivida Holdings Inc., +1 (844) 744-6646; Investor Relations: Craig MacPhail, NATIONAL Capital Markets, 416-586-1938, firstname.lastname@example.org; Media Relations: Amie Lauder, NATIONAL Public Relations, 416-586-1943, email@example.com