Vitality Products Inc. - Letter from the President & CEO to All Shareholders
Sep 27, 2018, 19:34 ET
Trading Symbol: VPI
VANCOUVER, Sept. 27, 2018 /CNW/ - Vitalty Products Inc. releases letter from Cheryl A. Grant, President and CEO, to Vitality Products Shareholders.
Dear Fellow Shareholders,
I am honoured to be the President & CEO of Vitality Products Inc. I am committed to building the Company with strength, integrity and determination and to provide beneficial results for our customers, retailers and shareholders. The health and wellness of each customer is of vital importance and we value the trust they put in the VITALITY® brand. This is an exciting time for the natural health industry and Vitality Products Inc. as we undergo dynamic growth.
I am an experienced brand builder. After working with leading consumer brands of Best Buy Canada and TELUS, a health advocate at Canadian Diabetes Association, and Vice President at VITALITY for the last five years, my skills and ability will have a significant impact on the long-term growth and sustainability of VITALITY.
Last week, I returned from CHFA East – Canada's largest natural health industry tradeshow - and had numerous sales meetings with current and potential retailers. The meetings furthered my excitement for our future. VITALITY is a young company in an established business. We are working to maintain ongoing profitability and are focused on scaling and results over the next two to five years with new products, new markets and a focused growth online. Currently, Vitality Products Inc. is one of the fastest growing Consumer Packaged Goods (CPG) companies on the TSX-V, after achieving year-over-year double digital growth since 2014 and increasing same store sales in FY18 while maintaining a gross margin of 70%.
INDUSTRY GROWTH & VITALITY'S FUTURE GROWTH
Natural health has quickly moved from a fragmented collection of individual health advocates, to a highly organized and strategically driven industry. Global sales of dietary supplements are expected to increase from $133B USD in 2016 to $220B USD by 2022 according to Zion Market Research (ID 828514). VITALITY is a growth company in a growth sector.
VITALITY's line of Canadian-made, non-GMO, vegan and plant-based products are ideal for our growing customer-base. VITALITY has a robust plan to market to traditional natural health retailers and online through Amazon as well as through our newly developed online sales channel at www.vitality.ca. VITALITY intends to focus heavily on digital marketing starting November 2018.
VITALITY WILL INNOVATE & EXPAND INTERNATIONALLY
VITALITY will continue to build on the sales growth of Power Iron + Organic Spirulina in Canada and expand sales internationally in 2019. According to Zion Market Research, the iron supplements industry was valued at $3 billion (USD) in 2015 and is expected to double to $6B USD by 2025 with 34% of sales in North America. VITALITY completed the Trade Accelerator Program (TAP) with the Board of Trade and Export Canada in May 2018 with a focus to export Power Iron + Organic Spirulina into the United States starting in 2019 and introduce new products in Canada starting in 2019.
AN ETHICAL INVESTMENT ON THE TSX-V
VITALITY is an ethical investment. We are connected first and foremost to the health and wellness of people. We ensure the integrity of each product made and comply and surpass all required manufacturing standards set forth by Health Canada, and we are committed to the longevity of VITALITY for the shareholders.
VITALITY's investors site includes a full presentation on Vitality Products Inc. and how we will use $500,000 raised from the April 2018 Private Placement in the upcoming months (https://www.vitality.ca/pages/investors).
I look forward to our journey together.
On behalf of the Board of
VITALITY PRODUCTS INC.
"Cheryl A. Grant" (signed)
__________________________________
Cheryl A. Grant, President & CEO
Forward-Looking Information
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.
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 news release.
SOURCE Vitality Products Inc.
For further information: Vitality Products Inc., Cheryl A. Grant, President and CEO, (604) 591-1322, [email protected]