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LeanLife Health continues in-house testing of its omega-3 products, reprices warrants

The study determined the totox value, a parameter for assessing the quality of edible oils

Omega 3 pills on a spoon
LeanLife’s flavorless omega product is plant-based and extracted from flaxseeds

LeanLife Health Inc (CSE:LLP) reported the results of its in-house testing of omega samples, conducted at the company’s small laboratory facility.

The company develops omega-3 products which can be formulated as liquids, emulsions or powders and used as food additives.

READ: BioTime shares pop following positive preclinical results from its HyStem drug delivery platform

Its flavorless omega product is plant-based and extracted from flaxseeds.

The study aimed to determine the totox value, which is a measure of an oil’s oxidation state and a parameter for assessing the quality of edible oils.

The lower the totox value, the better the quality of the oil.

The study determined the totox value of a 10-month-old sample representative of its BioCube machine, was 11.70.

Seven out of the nine samples contained ethanol levels from 0.5% to 2.5%, while the allowable limit in Canada is 0.5%.

The omega-3 market is expected to reach US$7.32 billion by 2020, according to a report by Grand View Research Inc.

The company also announced that it wants to reprice around 9.34 million of its warrants expiring December 15, 2018, from $0.15 each to $0.075 each, extending the expiry date to December 15, 2020.

Shares of the Vancouver-based company were up more than 11% to C$0.05 by Tuesday’s closing bell.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

Quick facts: LeanLife Health

Price: 0.06 CAD

CSE:LLP
Market: CSE
Market Cap: $7.3 m
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