MONTREAL, Aug. 20, 2021 /CNW/ - Lumiera Health
Inc. (TSXV: NHP) (the "Company" or
"Lumiera "), a company specializing in the development
and commercialization of natural health products, is pleased to
announce that it has received approval to sell topical products on
the Amazon platform and that its Awaye™ Pain Relief Cream has been
sent to Amazon's fulfillment center and is now available for sale
to customers across Canada.
Awaye™ provides a new generation of relief from acute and
chronic pain by acting on 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.
"Our Amazon presence is an important pillar in executing our
e-Commerce strategy" says Carlos
Ponce, CEO of Lumiera. "After the successful launch of
Awaye's brand-owned e-Commerce website, the company has been
focused on partnering with high traffic e-Commerce platforms to
expand our online distribution. We expect that Amazon will be an
important sales channel for Lumiera's products.".
Issuance of stock options
The Board of Directors of the Company has approved, by
resolution, on August
20th, the granting of 2,300,000 stock options to
directors and officers of the Company. The exercise price of the
options is $0.05 (the closing price
of the shares on August
19th, 2021, was 0.035). The options are fully
vested and have an expiry date of August
19th, 2031. The above-mentioned options have been
granted pursuant to the Lumiera Stock Option Plan. Following this
stock option grant the Company has a total of 3,013,335 stock
options outstanding, which represents less than 2% of the Company's
issued and outstanding common shares.
Capital Reimbursement and Amendment to Note
By way of an update following the announcement of the Company's
private placement on August
6th 2021, Lumiera announces that it has entered
into an amending agreement with its third party lender in respect
of the outstanding Note, the principal amount of which currently
stands at $1,650,000. As part of the
amendment agreed with the lender, the Company is reimbursing
$225,000 in capital and will now
increase its monthly payments to $20,000 in order to reduce the principal amount
owing under the Note. In addition, the Company and the lender
agreed to extend certain of the covenants in order to provide the
Company with additional flexibility in executing its business
plan.
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 developing and
commercializing a unique range of products acting on the
endocannabinoid system and offering novel solutions for the
treatment of acute and chronic pain. A pioneer in innovation of
plant-based health solutions, the Lumiera brand is rooted in the
core values of science, nature and compassion. Passionate about
making people feel better, we deliver trustworthy and
scientifically proven solutions that work with the body's own
systems.
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.