December 16, 2021
Potent Ventures Inc. (CSE: POT) (FSE: 0OS2) (OTCQB: POTVF) ("Potent" or the "Company") is excited to announce that the Company has placed an initial purchase order with a Canadian based gummy manufacturer for the production of innovative better-for-you gummy products (the "Purchase Order").
- Initial purchase order placed with manufacturing partner designed to fast-track market entry with high quality better-for-you product formulations
- Gummy and Jelly Industry valued at $20 billion1
- Initial purchase order represents a "change of business" under applicable Canadian Securities Exchange policies
"Within the multi-billion dollar gummy industry, we have identified a compelling, and early stage opportunity, focusing on plant-based better-for-you gummy products. The gummy and jelly industry is valued at over $20 billion (CAD)1 with significant upside and with the right branded products and our new manufacturing partner, we believe that we can enter and penetrate that market in a matter of months," said Potent President, CEO and Director, Mr. Charlie Lamb.
"Our initial line of products will be made with the highest quality, most sustainable plant-based ingredients in the world. Current consumer trends show that the world is adapting, and people are looking for sustainable and healthy alternatives to high sugar candy without sacrificing taste. The Company's long-term vision will be to develop and commercialize new products as new product categories emerge in the gummy and health and wellness industry," added Mr. Lamb.
The Company intends to change its business name and stock symbol as part of the change of business, with such changes becoming effective upon the CSE approving the Listing Statement (defined below) and the "change of business" being approved by shareholders.
"The name and ticker change will be necessary to reflect what will be our primary business strategy moving forward and will more accurately reflect our portfolio of products," said Mr. Lamb.
In connection with the execution of the Purchase Order and in consultation with the Canadian Securities Exchange (the "CSE"), the Company has determined that the Purchase Order represents a "change of business" under applicable CSE policies given that the Company is shifting from the cannabis sector to the plant-based gummy and wellness sector. The Company determined that this strategic shift presents an opportunity to serve the emerging and rapidly growing low sugar and plant-based gummy market and to promote holistic health and wellness with North American consumers. The Company intends to focus on the formulation and distribution of low sugar plant-based gummy products with additional product launches expected to incorporate vitamins, adaptogens, other nutraceutical ingredients and wellness products.
Subject to the change of business being completed and approved, the Company expects its business structure to reflect a lean start-up model with minimal capital output costs through the utilization of contract manufacturing and third-party logistics companies to fulfil e-commerce and wholesale market channels. Initial sales efforts are expected to focus on the Canadian e-commerce market, with expansion to the United States and wholesaling to brick and mortar retailers to follow.
The change of business is subject to the approval of the Company's shareholders and the acceptance of the CSE. In accordance with the policies of the CSE, the Company has filed an updated Form 2A Listing Statement (the "Listing Statement") with respect to the change of business with the CSE. If the CSE approves the Listing Statement, the Company will post the Listing Statement on the CSE website and seek the consent of a majority of the Company's shareholders for the change of business at a special meeting of shareholders to be convened and held in early 2022.
Completion of the change of business is subject to a number of conditions, including but not limited to, CSE acceptance and shareholder approval. The change of business cannot close until the required shareholder and regulatory acceptance is obtained. There can be no assurance that the change of business will be completed as proposed or approved by the Company's shareholders.
Investors are cautioned that, except as disclosed in the Listing Statement, any information released or received with respect to the change of business may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
1https://www.grandviewresearch.com/industry-analysi...
Charlie Lamb, President & CEO, Director
Telephone: 1(236) 317-2812 - Toll free 1(888) 556-9656
E-mail: investors@potent-ventures.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the change of business and regulatory and shareholder approval of same, growth of the low sugar and plant-based gummy market, business strategy, corporate vision, proposed expansion, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
POT:CC
The Conversation (0)
17 February 2022
The Gummy Project
Company Overview
Launching in April 2022, The Gummy Project (CSE:GUMY) is a purpose-driven Vancouver based company that will sell low sugar, plant-based, gluten-free gummy products with a portion of their profits going to support endangered “Keystone Species” through carefully selected charitable partnerships.
Market Overview
The global market for gummy products is expected to reach a sweet size with experts predicting it could reach $42.06 billion by 2028. Even better, Grand View Research expects it to achieve a CAGR of 12.6 percent over that same period. Healthy gummy products are predicted to drive this market as consumer behavior shifts towards healthier, more sustainable options. More specifically, the key factors will be clean and naturally-formulated gummy products offered by key market participants and increasing customer demand for nutrition with taste and flavor.
In 2021, the gummy industry saw major company acquisitions and a gummy product line launch backed by a celebrity co-creator. Catalent Inc. –– a contract drugmaker that manufactures COVID-19 vaccines –– acquired gummy vitamins maker Bettera Holdings LLC for $1 billion in cash. The Hershey Company (NYSE:HSY) also acquired Lily’s Sweets which produces sugar-free chocolates and low-sugar gummies. Additionally, celebrity Alicia Silverstone partnered with Garden of Life to launch its first-ever line of USDA organic, vegan, gluten-free and non-GMO gummies.
The report by Grand View Research also highlighted that companies in the gummy industry that outsource manufacturing to Contract Manufacturing Organizations (CMOs) can reduce capital-intensive operations while focusing on research and development, product distribution and branding and marketing activities. Naturally, companies that produce healthier gummy products through outsource manufacturing will likely present an interesting proposition for investors as the market grows.
The Gummy Project will be focused on formulating, distributing and bringing to market its plant-based, low sugar, non-GMO, gluten-free and halal friendly products as well as other wellness products. The Gummy Project’s gummy products are manufactured in an NSF and NSF Sport Certified facility in British Columbia, Canada.The Gummy Project’s line of products will be made with a proprietary formula consisting of all-natural flavors, set to launch in April 2022.
The Gummy Project’s line of gummy products will be in the shape of endangered “Keystone Species” (as shown in the above image – bees and sharks, or two or the most critical species on the planet today), or an organism playing a critical role in defining its ecosystem and, in some cases, providing the basis for its ecosystem’s survival. The bee shaped gummies will be a peach flavor and the shark shaped gummies will be a watermelon flavor.
The company’s endangered “Keystone Species” strategy is part of its purpose-driven business model that supports such species wellbeing. Consumers today, more than ever, expect a company to be purpose driven and that they are more inclined to support a company that makes a positive impact on society (e.g., supporting critical issues, giving back to communities, or adopting sustainable environmental practices). Based on a June 2018 survey of 1,006 Americans ages 20 and older, 79% said they have more loyalty to a purpose-driven company, 77% said they had a stronger emotional connection to a purpose driven company, 73% said they are likely to defend a purpose driven company and 70% said they are proud to be associated with a purpose-driven company. The company’s product packaging and brand messaging has been designed to communicate critical environmental issues and The Gummy Project will donate a portion of the proceeds from each unit sold to carefully selected organizations that protect individual “Keystone Species.”
The Gummy Project is also dedicated to environmental sustainability through its innovative packaging. The company’s product packaging is produced through its packaging partner that utilizes a digital printing platform. The Gummy Project’s packaging requires less energy to manufacture, produces less waste and generates a smaller carbon footprint than traditional printing technologies. The packaging process also allows the company to order on demand which eliminates packaging obsolescence, resulting in less unused plastic waste in landfills.
The company is well-primed for success with a strong purpose-driven business model that reduces capital costs while supporting an aggressive marketing strategy and extensive customer experience research. The Gummy Project’s model includes leveraging third-party multichannel logistics and outsourced contract manufacturing with a Canadian-based manufacturer to fulfill e-commerce and wholesale market needs. The Gummy Project also plans to launch an omnichannel marketing strategy through the use of experiential advertising, influencers, social media, SEO and branded merchandise.
The Gummy Project has a well-defined path to growth through the expansion of its product line. The company plans to increase its market share through product launches that also incorporate vitamins, adaptogens and other nutraceutical ingredients. The Gummy Project also plans to develop additional endangered “Keystone Species” gummy products, including elephants and palm trees. The company currently has the basis for a significant inventory launch with 80,000 gummy product bags having been ordered.
Company Highlights
- The Gummy Project is formulating, distributing and bringing to market its plant-based, low sugar, non-GMO, gluten-free, naturally-flavored and halal friendly gummy products as well as other wellness products.
- The Gummy Project’s line of gummy products are sustainably-packaged and feature endangered “Keystone Species” shapes instead of the typical gummy bear mold.
- The endangered “Keystone Species” mold is the basis for the company’s purpose-driven mandate to donate proceeds from each unit sold to its carefully selected partnered organizations that support endangered “Keystone Species”
- The Gummy Project has established a business model that reduces capital costs through third-party multichannel logistics and outsourced contract manufacturing. The company also has plans for an aggressive omnichannel marketing strategy and extensive customer experience research.
- The company has a strong plan for growth with product line and product feature expansion, including new molds and the addition of nutraceutical ingredients such as vitamins and adaptogens.
- The Gummy Project has been selected as the supplier of gummy products to Flair Airlines.
- The Gummy Project launched its new e-commerce site at www.shopgummies.com.
- Gummy Project successfully completed the presale phase and official launch of shipping capabilities across Canada.
- The Gummy Project enters the US market with Hy-Vee Inc. as its first major retail partner.
- The Gummy Project expanded to British Columbia as an approved vendor at Sobeys Inc.
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