MONTREAL, July 5, 2022
/CNW Telbec/ - Lumiera Health Inc. (TSXV: NHP) (the
"Company" or "Lumiera "), a company specializing
in the development and commercialization of natural health
products, is pleased to provide an update to announce that the
corporate strategy and plans that were put place in 2021, are
continuing to prove successful with Lumiera's first half of 2022
improving its sales by +40% compared to last year first half
results.
The increase in the Company's sales has been driven by increased
retail and online distribution which has led to trial and repeat
purchases of Awaye™ natural pain relief cream and Bazzzics™, a
natural non-addictive sleep aid.
"We are very proud to see that the strategies and plans we put
together and have been executing are driving considerable growth,
both in online and retail channels." says Carlos Ponce, CEO of Lumiera Health. "It's also
exciting to see that the two product we launched last year, Awaye
pain relief cream and Bazzzics natural sleep aids, have quickly
become important revenue drivers. As we keep expanding national
distribution and begin sales in the US, we look forward to
continuing our growth."
Q2 financial statements will be released on or before
July 29, 2022.
Increased working capital through
new debt agreement
As a part of its accelerate growth plan, Lumiera is continuing
to identify savings and allocate those saving to inventory to
support growth. With that focus, the Company entered into an
agreement with shareholders and members of management, for a total
amount of $293,000. This amount will
be used to free-up cash flow in the short term; new loan has a
one-year term and pays monthly interest at 15%.
The Lenders will receive a total 5,000,000 non-transferable
warrants. Each warrant will entitle the holder to acquire one
common share, at an exercise price of $0.05 per share, for a period of one year ending
July 5, 2023. The Warrants will,
unless exercised, expire on the 30th day after the Company pays
back the note.
The new loan is subject to certain standard conditions
including, but not limited to, the receipt of all necessary
approvals including the acceptance of the TSX Venture Exchange.
About Lumiera
Health
Lumiera specializes in the development and commercialization of
consumer products for the natural health industry. The Company
sells herbal tonics and natural supplements through its Holizen
Laboratories division, with a diverse portfolio including a line of
innovative sleep aids. The Company is also commercializing a unique
topical product line acting on the endocannabinoid system, without
the use of cannabis, that provides an innovative solution for
chronic pain and inflammation. A pioneer in the natural health
innovation space, the Lumiera brand is rooted in the core values of
science, nature and compassion. Our goal is to make people's lives
better by developing natural health and wellness products that are
effective, safe and trustworthy.
For more information visit: www.lumiera.ca.
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 release.
Forward-looking
information
Certain statements contained in this press release constitute
"forward-looking information" as such term is defined in applicable
Canadian securities legislation. The words "may", "would", "could",
"should", "potential", "will", "seek", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions indicate such "forward-looking
information" as they relate to Lumiera. All statements other
than statements of historical fact may be forward-looking
information. Such statements reflect Lumiera' current views and
intentions with respect to future events, and current information
available to Lumiera, and are subject to certain risks,
uncertainties and assumptions. Such risks and uncertainties
include, among others, the risk factors included in Lumiera' annual
management's discussion and analysis for the year
ended November 30, 2021,
which is available under the issuer's SEDAR profile
at www.sedar.com. Material factors or assumptions were
applied in providing forward-looking information. Many factors
could cause the actual results, performance or achievements that
may be expressed or implied by such forward-looking information to
vary from those described herein should one or more of these risks
or uncertainties materialize. Should any factor affect Lumiera in
an unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking information is expressly qualified in its
entirety by this cautionary statement. Moreover, Lumiera does not
assume responsibility for the accuracy or completeness of such
forward-looking information. The forward-looking information
included in this press release is made as of the date of this press
release and Lumiera undertakes no obligation to publicly update or
revise any forward-looking information, other than as required by
applicable law.
SOURCE Lumiera Health Inc.