Appointment of New Chief Financial
Officer
VANCOUVER, BC, May 27, 2021 /CNW/ - NEXE Innovations Inc.
("NEXE" or the "Company") (TSXV: NEXE) (OTC Markets: NEXNF)
(Frankfurt: NX5), is pleased to announce that the Company has
signed a commercial relationship with Vejii Holdings Ltd.
("Vejii"), with the intent to sell NEXE's XOMA Superfoods
line on Vejii's e-commerce marketplace,
https://shopvejii.com/brand/xoma/ in the U.S.
Xoma Superfoods is NEXE's in-house superfoods brand featuring
NEXE's single-serve, fully compostable, plant-based beverage pods,
compatible with Keurig's single-serve brewing systems.
Vejii operates the largest online vegan marketplace in the U.S.
and provides its customers with access to thousands of vegan and
plant-based products in one place.
"NEXE is proud to announce that our flagship XOMA Superfoods
line will soon be available on Vejii's marketplace," said
Darren Footz, CEO of NEXE.
"Partnering with Vejii is an exciting milestone for NEXE as we
expand our distribution network for our popular XOMA product line.
Vejii is an excellent fit for XOMA because it attracts consumers
who are seeking convenient, health conscious, plant-based
alternatives."
NEXE plans to continue to expand its direct-to-consumer sales
efforts from its own ecommerce website, while also continuing to
partner with select online marketplaces that specialize in
plant-based consumer packaged goods.
Launched in late 2020, Vejii's marketplace offers over 3,000
SKUs from over 500 artisanal and national brands of often
hard-to-find plant-based products. Its target audience are
flexitarian consumers who may still eat meat but are looking for
plant-based alternatives. Vejii's recent acquisition of Vegan
Essentials, in addition to its own ShopVejii.com platform, should
provide for a strong platform of vendors while leveraging
distribution, marketing channels and brand ambassador partnerships,
as well as vast consumer insights that have been built through
Vegan Essentials' leadership position in the U.S.
Additionally, NEXE announces that Mr. Raj Kang has stepped down
as Chief Financial Officer of the Company having completed the
transition of NEXE from a private organization to a publicly-listed
corporation during his tenure to focus on other projects. The
Company is pleased to announce the appointment of Mr. Ed Duda as the new Chief Financial Officer of
the Company.
Mr. Duda has over 30 years of public and private company
experience in a wide range of finance and business functions within
various industries, holding a number of senior positions, is
managing director of Delmac Pacific Management Inc., a private
company specializing in financial reporting, risk management,
regulatory compliance, junior company development and corporate
governance. Mr. Duda holds a BBA from Simon
Fraser University and a CPA, CMA designation from the
Chartered Professional Accountants of British Columbia. In addition, he holds
several certifications from the Canadian Securities Institute. Mr.
Duda has extensive board and executive committee experience and
currently sits on the board of several public and private
organizations in addition to being an advisory board member.
Darren Footz, CEO commented, "On
behalf of the Board of Directors and the entire organization, I
want to thank Mr. Kang for his exceptional leadership, dedication
to NEXE and wish him well in his future endeavours. We are pleased
to welcome Mr. Duda aboard the Nexe Innovations team. His diverse
background in finance, business development, capital markets and
technology utilization will undoubtedly play a key factor in our
future growth."
About Vejii
Headquartered in Kelowna B.C.
and operating its online marketplace ShopVejii.com in the U.S.,
through its wholly-owned subsidiary Vejii Inc., Vejii Holdings Ltd.
is focused on providing its customers with easy access to thousands
of vegan and plant-based products in one place. Vejii leverages
technology integrations like smart lists, reorders features,
subscription programs, AI, and is always looking for new and
innovative ways to enhance the customer experience.
About XOMA Superfoods
XOMA Operations Inc. is a wholly-owned subsidiary of NEXE
Innovations Inc. XOMA Superfoods produces and distributes
high-quality coffee and superfood creamers packaged exclusively in
single-serve, fully compostable, plant-based pods.
xoma.ca
instagram.com/xomasuperfoods/
About NEXE
NEXE Innovations Inc. is a leader in plant-based compostable
technology and advanced materials manufacturing based in
British Columbia, Canada. The
company has developed one of the only patented, fully compostable,
plant-based, single-serve coffee pods for use in leading
single-serve coffee machines. The proprietary NEXE pod is designed
to reduce the significant environmental impact caused by
single-serve pods, over 40 billion are discarded every year. With
over $64M raised to date from equity
and government funding and over five years of R&D, NEXE is
well-positioned to meet the growing demand for environmentally
friendly and sustainable products in the single-serve coffee sector
and beyond.
ON BEHALF OF THE BOARD OF DIRECTORS
NEXE INNOVATIONS INC.
s/ "Darren
Footz"
Darren Footz, Chairman and
CEO
Social Media
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Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking
statements or information, which include the proposed use of
proceeds, commercialization of the NEXE Pods, including the NEXE
Nespresso Compatible Pod, increase production capacity, demand
and/or sales of its products, create other environmentally friendly
compostable packaging opportunities, development of technologies,
the potential of the Company's technology, future plans, regulatory
approvals and other matters. Forward-looking statements consist of
statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the
future. Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, business, economic and capital market
conditions, the ability to manage operating expenses, consumer
demand for and sentiment towards the Company's products, security
threats, and dependence on key personnel. Such statements and
information are based on numerous assumptions regarding present and
future business strategies and the environment in which the Company
will operate in the future, including the demand for its products,
anticipated costs, and the ability to achieve goals. Factors that
could cause the actual results to differ materially from those in
forward-looking statements include, failure to obtain regulatory
approval, the continued availability of capital and financing,
equipment failures, litigation, increase in operating costs, the
impact of Covid-19 or other viruses and diseases on the Company's
ability to operate, competition, failure of counterparties to
perform their contractual obligations, government regulations, loss
of key employees and consultants, and general economic, market or
business conditions. Forward-looking statements contained in this
news release are expressly qualified by this cautionary statement.
The reader is cautioned not to place undue reliance on any
forward-looking information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Nexe Innovations Inc.