Trading Symbol: VPI
VANCOUVER, Jan. 3, 2019 /CNW/ - Vitality Products Inc. ("Vitality" or the "Company") is pleased to announce it is receiving up to $85,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support the research and development of new products. The Company identified gaps in health and wellness products and, following initial research, is receiving the conditional funding to help develop three innovative natural health products in 2019.
"VITALITY sees a growing opportunity for plant-based and algae products in health and wellness," said Cheryl Grant, President and CEO, Vitality Products Inc. "After the successful launch and growth of Power Iron + Organic Spirulina, we have identified additional opportunities for innovation and sales growth."
The Company began receiving funding as of November 16, 2018 and is scheduled to complete its development work within the next 12 months.
The Company is focused on increasing its line of products in Canada and internationally in 2019. Vitality Products Inc. has received over $245,000 in funding from NRC IRAP since 2012 and wishes to acknowledge the program and its Industrial Technology Advisors for their support in the growth of the Company.
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 550 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" (signed)
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: Vitality Products Inc., Cheryl A. Grant, President and CEO, (604) 591-1322, [email protected]