Else Nutrition Holdings Inc. Successfully Completes Manufacturing Scale-up Run

VANCOUVER, Oct. 18, 2019 /CNW/ - ELSE NUTRITION HOLDINGS INC. (TSX-V: BABY) ("Else" or the "Company"), a company focused on developing and marketing a real alternative to dairy-based baby nutrition, is pleased to announce it has successfully completed a scale-up manufacturing run of its proprietary powdered baby formula with a subsidiary of SPX Corporation ("SPX"). 

The Company completed a scale up run of its plant-based powdered baby formula at an Anhydro plant in Denmark.  The manufacturing run simulated a full commercial run using the exact facilities, ingredients and formulation that is anticipated for the Company's Q2-2020 product launch.  The results from the scale up run, notably identified production efficiencies allowing for lower cost production, less waste and good solubility - all production parameters exceeded expectations.

"We are very encouraged by these positive results. The data shows full feasibility for obtaining high quality product according to industrial standards," stated Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. "This gives us great momentum as we look to full commercial production and bringing the product to market," she added.

Anhydro is a leading global brand within SPX's Flow Technology Segment offering liquid concentration and powder processing solutions, as well as equipment for the international dairy, food, beverage, alcohol, pharmaceutical and chemical industries. SPX designs, manufactures, installs and services a wide range of advanced Anhydro evaporation and drying equipment and solutions for customers in major industries around the world.

About SPX Corporation

SPX Corporation (NYSE: SPW) is a Fortune 500 manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.  It specializes in the design, development and delivery of innovation liquid concentration and powder-processing solutions. With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide.

TSX Venture Exchange

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This press release contains statements that, to the extent they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will", "plan", "hope to", "intend" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the Company's commercialization of its products and expected timing, expected go-to-market strategy (including marketing, proposed markets, sales, customer growth and market position), and industry conditions.

Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct.

Forward-looking statements made in this press release assume, among others, the successful completion of Else's proposed scale-up for its products, and such statements are intended to apply only to the infant formula market for ages 12 months and above, and having all necessary regulatory approval as required by each target market.

Numerous risks and uncertainties could cause the Company's actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: consumer demand for the Company's products, whether the Company's current and future products achieve commercialization, uncertainty regarding material changes in laws and regulations, retention of key personnel, the Company's ability to expand into global markets and competitive developments.

The foregoing list of factors is not exhaustive, and other risks and uncertainties not presently known, or believed to be material, to management Additional information and other factors that could affect the operations or financial results of the Company are set out in the Company's Filing Statement dated May 14, 2019 under the heading "Risk Factors" and may be accessed through the SEDAR website (www.sedar.com).

Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law

SOURCE Else Nutrition Holdings Inc.

Hamutal Yitzhak, CEO, Co-Founder & Director, ELSE Nutrition Holdings Inc., E: [email protected], P: [phone]