Trading Symbol TSX.V: VPI
VANCOUVER, Nov. 6, 2019 /CNW/ - Vitality Products Inc. (the "Company" or "Vitality") is pleased to announce its upcoming marketing and product launch into the United States. The Company has completed all FDA filings for its complete product line previously sold only in the Canadian market. Products manufactured in Canada have cleared customs into the United States and will be available for sale commencing in the Company's fourth quarter (November 1, 2019 – January 31, 2020).
"We are excited for Q4 and the launch of VITALITY into the United States," said Cheryl Grant, President & CEO of Vitality Products Inc. "Over the last six months we have been focused on creating new U.S. market ready labels, registering Vitality's trademark in the United States, completing the necessary FDA filings, preparing a significant quantity of product and preparing the best route to market and new customers."
The dietary supplement market in the U.S. is projected to be on the rise. By 2024 the value of the U.S. dietary supplement market is forecast to reach US$56.7 billion. This would be a significant increase from 2016 when the market was valued at US$31.7 billion.¹ The U.S. market, a high income economy, is heavily focused on preventive health and accounts for almost a quarter of global supplement sales (valued at US$132.8 billion in 2016). The main types of dietary supplements available in this market are botanicals, vitamins, enzymes, amino acids and minerals.2
VITALITY® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured locally in BC, and currently sold in over 575 stores nationally, the products are vegan, non-GMO and third party tested. Following the proven success of the line through repeat orders and same store sales growth, the Company is focused on expanding distribution and growing sales in-store and online (at vitality.ca, well.ca and amazon.ca); evaluating, researching and developing new products for future distribution; and exploring new markets for its products.
On behalf of the Board of
VITALITY PRODUCTS INC.
"Cheryl A. Grant"
Cheryl A. Grant, President & CEO
Information set forth in this news release involves forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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SOURCE Vitality Products Inc.
For further information: please contact: Vitality Products Inc., Cheryl A. Grant, President and CEO, (604) 591-1322, [email protected]