Test results from Geneva, Switzeraland-based SGS’ labs confirmed LeanLife’s product was compliant with global health and food safety standards. The sales team now has the product specification and quality certification to distribute Omega-3 product samples to some of Europe’s largest bread, pasta, yogurt, butter and cheese makers, according to a statement.
Investors cheered the news, sending LeanLife shares up 5.3% to $0.047 in the OTC Markets.
The Vancouver company has developed a patented process to isolate Omega-3 fatty acids from flax (linen) seeds — one of the richest plant sources of this essential fatty acid.
LeanLife Omega products are available in the form of oil, emulsion or powder with purity in excess of 98%. The products are sold online or as additives to commercial food processors making such items as bread, noodles and milk products.
"The SGS results confirm that the LeanLife product is as pure as you can get, making it appealing to food producers and creating a barrier to entry by any potential competitor,” said LeanLife Health CEO Stan Lis. “The data also confirms that LeanLife can produce the product using a fully-scalable proprietary process capable of meeting market demand while maintaining extraordinary quality.”
Lis said that with the “independent validation complete and documented samples being distributed to food producers,” LeanLife is now in a position to secure customer orders.
The Omega-3 “wonder fat” market touched $33 billion globally in 2016, and is expected to expand to $57 billion by 2025, according to a report by Grand View Research Inc.
Contact Uttara Choudhury at [email protected]