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Element Nutritional Sciences Provides Business Update

Element Nutritional Sciences (CSE:ELMT)

BURLINGTON, ON, CANADA, February 6, 2023 /EINPresswire.com/ -- Element Nutritional Sciences Provides Business Update

Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF; FRANKFURT:93X)(the “Company” or “Element”), today announced that it has reduced its headcount by 10 employees in order to preserve cash and allocate its capital towards the production and distribution of Rejuvenate™ products. The headcount reduction is expected to save $960,000 on an annualized basis. The change is also expected to be temporary, depending on a number of factors. In the past year, the Company has also updated its product format to maximize distribution potential and gross margins, in addition to a number of other strategic initiatives meant to preserve cash.

“On behalf of the Company, I would like to extend a sincere thank you to everyone that has contributed to developing the Rejuvenate™ brand. We have created a fantastic product with proven efficacy at improving muscle health and your efforts are greatly valued. The team at Element remains committed to growing the Rejuvenate™ brand into 2023 and we continue to evaluate all our options to maintain growth and optimize cash flow,” said Stuart Lowther, Chief Executive Officer.

About Element
Element is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 40. Element’s lead product, Rejuvenate™, is a proprietary formulation that is clinically proven to assist in the rebuilding, restoration and rejuvenation of natural loss of muscle mass due to aging or other medical conditions. Element also offers JAKTRX™, an elite brand of performance supplements. Element was founded in 2015 and is located in Burlington, Ontario.

To learn more about Element, visit elmtinc.com.
More information about Rejuvenate™ can be found at: www.rejuvenatemuscle.com
More information about JAKTRX™ and Promino™ can be found at: www.jaktrx.com

Forward Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company’s products; availability of distribution channels for the Company’s product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company’s proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company’s products in the United States and Canada; customer and distributor relations; fluctuations in securities markets; and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For further information, please contact:
Stuart Lowther
Chairman, CEO and President
ir@elementnutrition.com
416-467-5229

Marc Charbin
Investor Relations
ir@elementnutrition.com
416-467-5229

Marc Charbin
Investor Relations
+1 416-467-5229
email us here

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