Lumiera Health signs binding term sheet to launch Awaye™ pain relief cream in the US
MONTREAL, Feb. 15, 2022 /CNW Telbec/ - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of evidence-based botanical products, is pleased to announce the signing of a binding term sheet with Pain Level LLC, a NY-based broker. Pain Level LLC will be representing the company's Awaye™ pain relief product in the Northeastern US market. In addition to managing sales initiatives and the distribution network, the group will be responsible for executing the advertising and marketing programs in their territory, which covers New York, New Jersey and Connecticut.
This agreement represents one of Lumiera's important milestones in its growth strategy and represents the first step towards expanding outside of Canada.
"Awaye™ is a great product that launched Direct to Consumer in April of last year. We have received very positive feedback from consumers that are using Awaye™ and are seeing strong month over month growth. Based on Awaye™'s success, we are now driving Retail Distribution and are very happy to be working with Jerry and the new Pain Level team to launch Awaye™ in New York, New Jersey and Connecticut as the revenue potential is outstanding" says Carlos Ponce, CEO of Lumiera.
"As a team we are really excited. The market potential for Awaye™ is incredible; an effective, natural pain relief cream is very much on trend and we are looking forward to driving distribution and sales of Awaye™ amongst our retail network and making it a success across the tri-State area" says Jerry Safran, co-managing director of the newly formed Pain Level LLC.
The binding term sheet set the material terms towards the signing of a final agreement, which should be completed on or before February 28, 2022.
About Awaye™
Awaye™ provides a new generation of relief from acute and chronic pain by exploiting the CB2 receptors of the endocannabinoid system, the body's built in pain and inflammation defense system. Awaye™ is a unique Health Canada approved topical cream that provides relief from pain through complimentary mechanisms of action not found in any other product currently available on the market.
For more information about Awaye™ products, visit www.awaye.ca
About Pain Level LLC
Pain Level LLC is led by Jerry Safran. Mr. Safran has 20+ years' experience building retail brands in the grocery & supplements sector, and has developed deep relationships with major super-market chains, big box retailers and pharmacies. Jerry is joined by Daniel Katcher, a proven leader for 25 years in commercial sales. Deborah Kogan Eilender, a veteran brand-builder in the healthcare industry and former Consumer Marketing leader at one of the largest global pharmaceutical companies will provide marketing expertise for Pain Level LLC.
About Lumiera Health
Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also commercializing a unique topical product line acting on the endocannabinoid system, without the use of cannabis, that provides an innovative solution for chronic pain and inflammation. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Our goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.
For more information visit: www.lumiera.ca.
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.
Forward-looking information
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions. Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2020, which is available under the issuer's SEDAR profile at www.sedar.com. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Lumiera does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
SOURCE Lumiera Health Inc.
Lumiera Health Inc., Simon Castonguay, Interim Chief Financial Officer, 514-880-7772, [email protected]
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