LeanLife Health Inc (CSE:LLP) revealed Wednesday that it has inked a letter of intent with Poland-based food and beverage giant FoodCare Group to build a distribution network for their products in Canada and the United States.
Vancouver-based LeanLife Health, which is developing Omega-3 products as oil, powder or emulsion to be used as food additives, said the companies have set out “a six-month period to finalize agreements” during which FoodCare has committed exclusivity to LeanLife.
In a statement, LeanLife CEO Stan Lis said: “We are extremely pleased to get FoodCare to sign a letter of intent with us. We believe that LeanLife can provide a great platform for servicing the American and Canadian markets on behalf of FoodCare.”
He added: “We are especially excited about the potential synergies that LeanLife’s Omega-3 products could deliver to some of the FoodCare brands. The two companies are certainly going to explore these opportunities diligently.”
The FoodCare group, founded by Wiesław Włodarski in 1984 is a dominant player in Poland's fast-moving consumer goods sector. The company has two factories, employs 900 people and exports products to 50 countries. It owns seven consumer brands, among which are energy and isotonic drinks such as Iron Energy, N-GINE and 4move. FoodCare also sells baking ingredients under its brand Gellwe.
In 2012, former heavyweight champion boxer Mike Tyson became the ambassador for FoodCare’s energy drink brand. The company has started a new marketing campaign for its energy drink with stars from the American Extreme Football League (LFL), an American women's tackle football league.
LeanLife Health said it will “offer full support” for launching Foodcare branded products, especially the Iron Energy Drink brands in the Candian and US markets.
LeanLife 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. The company’s long-term, shelf-stable extractions are available in oil, emulsion and powder forms with purity in excess of 98% and can be used as food additives, or as nutraceuticals.
“Improving the quality of food without requiring people to change what they eat is the best way to ensure they eat healthier and benefit from an improved quality of life,” said Lis.
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