Plant-Based Supplement Company PlantFuel(R) Secures Equity Partnership with GNC Ventures
GNC Ventures, an innovation and technology arm affiliated with GNC, partners with plant-based and eco-friendly product manufacturer
Mississauga, Ontario – TheNewswire – August 4, 2022 – PlantFuel Life Inc. (CSE:FUEL) (CNSX:FUEL.CN) (OTC:PLFLF) (FSE:BR1B) (“PlantFuel” or the “Company”) the scientifically focused plant-based wellness company is pleased to announce its equity partnership with GNC Ventures, an innovation and technology arm affiliated with GNC, a global health and wellness brand. GNC Ventures is designed to uncover and strategically partner with companies leading category innovation through unique attributes, multi-touchpoints, and a consumer-centric mindset.
“This partnership with GNC Ventures marks a major milestone for PlantFuel that will help propel our growth and product offerings alongside one of the largest health and wellness brands in the world,” says Brad Pyatt, Founder/CEO of PlantFuel. "Our core team spent several years developing what we believe is the future of performance and nutritional supplements, and with the support of GNC, we’ll be the most disruptive brand the industry has seen.”
With the addition of PlantFuel GNC Ventures is growing its portfolio of partner brands all of which share a commitment to helping consumers Live Well.
Affiliated with GNC, one of the largest health and wellness retailers in the world, and introduced in late 2021, GNC Ventures is a core part of the retailer’s renewed strategic focus on innovation and serves as an incubator for unique, emerging, and innovative brands. GNC Ventures has entered an equity partnership with PlantFuel, positioning the brand as it’s go-to plant-based and sustainability-friendly company. PlantFuel’s premium clean plant-based ingredients, eco-friendly packaging, dynamic marketing strategy, celebrity-driven ambassadors, and its buy-one/give-one cause-related partnership with One Tree Planted make it a great partner within the GNC eco-system.
“Our commitment from GNC Ventures reiterates our confidence in PlantFuel’s ability to change the plant-based performance category,” said Yong Kai Wong, Executive Vice Chairman, GNC. “We are seeing an uptick in consumer interested in vegan and plant-based options and will look to PlantFuel to help us deliver on that opportunity. We look forward to strengthening our relationship over the coming years and serving consumers across North America.”
Developed by athletes, formulated by doctors, and clinically proven for optimal performance, PlantFuel is a premium plant-based health and wellness company founded by former NFL player and serial entrepreneur Brad Pyatt. PlantFuel’s commitment to “good for the body good for the earth” aims to deliver the absolute best-possible products that bridge the gap between plant-based nutrition and peak performance, alongside eco-conscious and responsibly sourced packaging. Since PlantFuel’s inception in 2021, the brand has built an impressive network of ambassadors that include NFL Hall of Famer Terrell Owens, international music artist Lil Yachty, NCAA football star Spencer Rattler, national gymnast Olivia Dunne, television actress Megan Fox, singer Lucy Hale, NASCAR driver Natalie Decker, and many more. PlantFuel’s equity partnership with GNC Ventures will propel the brand’s business growth and deliver industry-disrupting products to millions of GNC consumers nationwide.
As the first plant-based brand selected by GNC Ventures, the partnership will accelerate PlantFuel’s speed-to-market and assortment of premium solutions accessible to millions of consumers.
In connection with the partnership, the Company would issue a total of 5,000,000 performance warrants to GNC. Each performance warrant entitles the holder to purchase one common share of the Company at a price of CAD$0.23 for a period of 5 years from the date of issuance. The performance warrants will only become exercisable upon the achievement of certain milestones (with 1,050,000 of the performance warrants being exercisable upon the Company having received US$1,500,000 in total purchases from GNC during calendar 2022, 1,850,000 of the performance warrants being exercisable upon the Company having received US$3,000,000 in total purchases from GNC during calendar 2023 and 2,100,000 of the performance warrants being exercisable upon the Company having received US$4,000,000 in total purchases from GNC during calendar 2024). Additionally, the performance warrants contain a feature that would permit the “net issuance” of the warrants on a “cashless exercise” basis, based on the market price of the Company’s at the time of the exercise.
The issuance of the performance warrants remains subject to the receipt of the approval of the Canadian Securities Exchange.
GNC is a leading global health and wellness brand that provides high-quality, science-based products and solutions consumers need to live mighty, live fit and live well.
The brand touches consumers worldwide by providing its products and services through company-owned retail locations, domestic and international franchise locations, digital commerce and strong wholesale and retail partnerships across the globe. GNC's diversified, multi-channel business model has worldwide reach and a well-recognized, trusted brand. By combining exceptional innovation, product development capabilities and an extensive global distribution network, GNC manages a best-in-class product portfolio. www.gnc.com.
About PlantFuel Life Inc.
PlantFuel Life Inc. is a scientifically focused, plant-based wellness company managed by successful entrepreneurs with extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. https://plantfuellife.com/
The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Forward‐Looking Information Cautionary Statement
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Forward-looking statements herein include, but are not limited to, expectations of management’s focus on and growth expectations of the PlantFuel brand and the Company’s business and strategic plans. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. PlantFuel undertakes no obligation to comment analyses, expectations or statements made by third parties in respect of PlantFuel, its securities, or financial or operating results (as applicable). Although PlantFuel believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond PlantFuel’s control, including the risk factors discussed in PlantFuel’s Listing Statement dated August 22, 2019 which is available on PlantFuel’s SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. PlantFuel disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.