Else Nutrition Reports Fourth Quarter 2020 and Full Year 2020 Results

Management is happy to announce throughout 2020 fiscal yr the Company efficiently accomplished its preliminary rollout, on August twelfth, of the primary Plant-Based Complete Nutrition for Toddlers product and executed of its strategic plan to setup an expansive development platform for gross sales of its distinctive line of plant-based child, toddler, youngsters and grownup diet merchandise. During the yr 2020 the Company has:

Successfully accomplished improvement of its first Plant-Based Complete Nutrition for Toddlers product.
Established industrial manufacturing capabilities with third occasion producer.
Successfully onboarded KeHE Distributor, the primary main distribution accomplice with a attain to 30,000 retail shops throughout the U.S.
Established on-line product retailer at Amazon.com and Elsenutrition.com.
Established preliminary on-line market penetration with extraordinarily constructive evaluations from mother and father and pediatricians.
Completed two financings for over $33.7M CDN.
Onboarded a strategic accomplice, H&H Group.

VANCOUVER, BC, April 30, 2021 /PRNewswire/ – ELSE NUTRITION HOLDINGS INC. (TSXV: BABY) (OTCQX: BABYF) (FSE: 0YL) (“Else” or the “Company”) the plant-based child, toddler and youngsters diet firm, at present introduced outcomes for its fourth quarter ended December 31, 2020, and for its full yr 2020.
Management is happy to announce the Company accomplished a lot of its strategic targets to organize the Company to grow to be one of many main suppliers of plant-based diet merchandise as a wholesome various to dairy-based formulation. In the fourth quarter the Company achieved preliminary gross sales from the launch of the Plant-Based Complete Nutrition for Toddlers product on the Company’s ecommerce web site and on Amazon.com; with plans of a launch within the retail retailer within the first quarter of 2021.  Full monetary outcomes might be discovered within the Company News part of the Company’s web site at https://elsenutrition.com/pages/investor-relations.
This fall 2020 Financial Highlights

Else achieved a excessive development charge in on-line market penetration gross sales throughout This fall 2020, displaying substantial month-on-month development in its two on-line gross sales channels – www.elsenutrition.com and www.Amazon.com,
Initial gross sales confirmed high-level of buyer satisfaction, improvement of name loyalty and over 30% in repeat gross sales.
In November Else ranked “Best vendor” on Amazon Infant & Toddler formulation new releases.
Else acquired and fulfilled the primary buy order from KeHE Distributors for onboarding Sprouts Farmers Market, 360 shops. KeHE is likely one of the two largest US pure meals distributors (reaches 30,000 doorways), it opened 5 Distribution Centers for Else the product to help Sprouts and different clients.
The Company continued to work with its retail brokers and pursue enlargement of listings in new pure meals, grocery, and on-line retail accounts and with extra distributors.
The Company carried out two (2) industrial manufacturing runs in This fall 2020, constructing manufacturing capability and product stock in the direction of industrial ramp-up throughout 2021. 
The Company accomplished the event of a brand new product – Complete Nutrition for Kids, in powder type, for youngsters 3 years and older.
Revenues for This fall had been C$598 thousand.
Revenues for the yr ended Dec. 2020 had been C$1,482 thousand.
Operating loss was C$3,439 thousand, in comparison with C$1,344 thousand within the fourth quarter of 2019.
Net loss was C$14,028 thousand, or C$0.15 per share, in comparison with C$1,357 thousand, or C$0.01 per share within the fourth quarter of 2019.
Cash move used for working actions was C$3,975 thousand, in comparison with C$5,242  thousand within the fourth quarter of 2019.
Cash place was C$25,356 million as of December 31, 2020 (together with restricted money and short-term financial institution deposit).

Twelve (12) Months Financial Highlights
Product Development:
The firm accomplished the event of its first product – Plant-Based Complete Nutrition for Toddlers (12-36 months) and carried out a number of scale-up manufacturing checks within the US, aiming to launch the product within the US. Although COVID-19 had important impacts on the Company’s actions, Else succeeded to launch its first product with minor delay.
In This fall 2020 Else accomplished the event of its second product – Plant-Based Complete Nutrition for Kids (3+ years) getting ready to launch in Q2 2021.
IP and TM
During 2020 the corporate filed patent purposes to cowl new developments in addition to continuations of the unique patent software; being the idea of its present and future merchandise. The firm additionally filed trademark purposes for the model identify “ELSE” and the corporate identify “ELSE NUTRITION” within the US and in over 40 extra nations. 
Advisory board and Clinical research
During 2020 the corporate engaged Key Opinion Leaders and consultants within the fields of pediatric gastroenterology and diet and allergy to its advisory board. These properly acknowledged consultants will lead the scientific actions deliberate for the approaching years to help the toddler formulation regulatory course of in US, Europe and the advertising actions for a lot of ranges of merchandise.
The Company added Prof. Yvan Vandenplas, Dr. Carina Venter, Prof. Ron Shaoul and Dr. Kayla Bridges to its advisory board.
Prof. Yvan Vandenplas is Head of the KidZ Health Castle, on the University Hospital Brussels (UZ Brussel). He has huge expertise toddler diet and particularly cow’s milk allergy and useful gastro-intestinal issues. He has revealed over 500 peer reviewed papers together with research associated to hydrolyzed proteins (milk and rice) in treating cow milk allergy symptoms.
Dr. Carina Venter holds a PhD (RD) from the University of Southampton, UK. She is at the moment an Associate Professor of Pediatrics, Section of Allergy/Immunology on the Children’s Hospital Colorado and University of Colorado Denver. She is a well known researcher within the area of allergy prevention and treating youngsters with meals allergy symptoms.
Corporate
During 2020 the Company employed a number of consultants and doubled in measurement.
The Company efficiently accomplished two funding rounds:


CAD $8M raised in March 2020, led by the H&H Group, a Hong Kong based mostly public firm.


CAD $25.7M raised in early Oct. 2020, led by the H&H Group & Canaccord Genuity.

Production:
The Company began industrial manufacturing in July 2020 and carried out three (3) extra industrial manufacturing runs throughout 2020 (in August, November and December), constructing stock to service the web and retail enlargement within the U.S. market.
Product/Brand Marketing:
The Company launched its web site in Q1 2020, with the goal to lift consciousness and anticipation for its soon-coming merchandise.
Developed a full model identification and constructed an electronic mail opt-in base of over 10,000 publication subscribers.
Executed a soft-launch of its Else Plant-Based Complete Nutrition for Toddlers product in mid-August 2020 on elsenutrition.com, adopted by a launch on Amazon.com in late September. The product ranked #1 greatest vendor place on Amazon Baby & Toddler Formula New Releases Category within the Fall of 2020.
In Q3 Else launched an built-in digital, social and influencer advertising marketing campaign to create consciousness of its model message, to succeed in potential patrons for its on-line retailer and on Amazon.com. Else initiated a number of advertising and promoting campaigns on Facebook, Instagram, Google, and different channels. The Company grew its advertising crew to facilitate branding, digital advertising, and buyer care, and continues to increase the crew as gross sales develop.
The Company curated and launched an influencer advertising engine, spanning nearly 100 influencers to drive model consciousness and product gross sales.
Customer reception of the product was overwhelmingly constructive with high-level of satisfaction with product high quality and impact on infants. Online gross sales grew month-on-month, and a excessive degree of shopper loyalty achieved (30% repeat gross sales).
Retail Launch
Else retained 4 retail brokers, who by yr finish of 2020 had listed Else’s product with a number of pure meals retail chains representing near 500 shops, together with Sprouts Farmer Market (360 doorways).
Else onboarded KeHE Distributors, one of many largest pure meals distributors in North America, that serves near 30,000 doorways.
In November, Else acquired the primary buy order from KeHE Distributors, shipped product to the primary 5 distribution facilities activated by KeHE for Else throughout the U.S. to serve Sprouts and different accounts for launch in Q1 of 2021.
Operations:
To help its development the Company applied a number of IT programs, together with the Financial module of Oracle’s NetSuite ERP bundle, and the Zendesk CRM bundle. The Company began implementing the NetSuite Logistics and Order Management module.
The Company makes use of 3PL warehousing companies to help B2C order success (utilizing three US Distribution Centers) and to retailer manufacturing materials.
Financials
As the corporate began operation in June 2019 there are not any comparable figures from 2019.

Operating loss was C$9,017 thousand.
Net loss was C$24,104 thousand, or C$0.3 per share.
Cash move used for working actions within the first twelve months of 2020 was C$9,587 thousand.

Hamutal Yitzhak, Else CEO, commented: “I’m very pleased with our achievements in 2020. Although COVID-19 brought about a slowdown on many fronts, we succeeded to finish two manufacturing runs as preparation in the direction of our industrial launch. We achieved substantial month-on-month gross sales development on our e-store and on Amazon.com; representing extraordinarily encouraging signal for Else’s future. We additionally made important progress on many different fronts, together with delivering preliminary product shipments to KeHE distributors, itemizing on extra pure meals retail chains, continued product improvement and employees enlargement. Having constructed an ideal infrastructure in 2020, we’re very pleased with our progress and really feel assured in our capability to ship sturdy development and market penetration within the the rest of this yr and past.” she added.
Impact of COVID-19
We expertise the impact of the pandemic in all areas of our enterprise, from delays in uncooked materials deliveries, to scientific and product improvement initiatives and absence of key individuals within the firm once in a while. Due to lockdowns and different COVID-19 associated measures all our enterprise assembly, advertising occasions, conferences and expos had been both canceled or turned digital, slowing down the tempo of our enterprise improvement efforts.
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel-based meals and diet firm centered on growing revolutionary, clear and plant-based meals and diet merchandise for infants, toddlers, youngsters, and adults. Its revolutionary, plant-based, non-soy, formulation is a clean-ingredient various to dairy-based formulation. Else Nutrition (previously INDI) received the “2017 Best Health and Diet Solutions” award on the Global Food Innovation Summit in Milan. The holding firm, Else Nutrition Holdings Inc., is a publicly traded firm, listed as TSX Venture Exchange below the buying and selling image BABY and is quoted on the US OTC Markets QX board below the buying and selling image BABYF and on the Frankfurt Exchange below the image 0YL. Else’s Executives contains leaders hailing from main toddler diet corporations. Many of Else advisory board  members had previous govt roles in corporations similar to Mead Johnson, Abbott Nutrition, Plum Organics and main toddler diet Societies,  and a few of them at the moment serve in several roles in main medical facilities and tutorial institutes similar to Boston Children’s Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Children’s Medical Center of Israel, Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium.
For extra data, go to: elsenutrition.com or @elsenutrition on Facebook and Instagram.
TSX Venture Exchange
Neither the TSX Venture Exchange nor its regulation companies supplier (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this launch.
Caution Regarding Forward-Looking Statements
This press launch accommodates statements which will represent “forward-looking statements” inside the which means of relevant securities laws. Forward-looking statements are usually recognized by phrases similar to “will” or comparable expressions. Forward-looking statements on this press launch embody statements with respect to the anticipated dates for submitting the Company’s monetary disclosure paperwork.  Such forward-looking statements mirror present estimates, beliefs and assumptions, that are based mostly on administration’s notion of present circumstances and anticipated future developments, in addition to different elements administration believes are applicable within the circumstances. No assurance might be provided that the foregoing will show to be right. Forward-looking statements made on this press launch assume, amongst others, the expectation that there will likely be no interruptions or provide chain failures because of COVID 19 and that the manufacturing, dealer and provide logistic settlement with the Company don’t terminate.  Actual outcomes might differ from the estimates, beliefs and assumptions expressed or implied within the forward-looking statements.  Readers are cautioned to not place undue reliance on any forward-looking statements, which mirror administration’s expectations solely as of the date of this press launch. The Company disclaims any obligation to replace or revise any forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as required by regulation.
SOURCE Else Nutrition Holdings Inc.

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