PureK Holdings Corp. ‘TRUBAR’ Plant-Based Nutrition Brand to Expand Into Canada
March 25 2021 - 7:30AM
PureK Holdings Corp. (the "
Company" or
"
PureK") (TSX Venture: PKAN) is pleased to
announce that TRU Brands Inc. ("
TRU Brands"), the
leading health and wellness brand and the makers of TRUBAR
plant-based, clean-label snacks for women, will continue to expand
its retail and online presence in Canada.
TRU Brands products are already available at
Costco Canada East locations in Ontario, Quebec, Nova Scotia, New
Brunswick, and Newfoundland and Labrador. Over the next six months,
TruBar’s Canadian momentum includes expansion commitments into
approximately 800 Shoppers Drug Mart locations, as well as Rexall,
Metro, and Loblaws locations. Additionally, TRU Brands expects to
launch TRUWOMEN.CA, its own consumer-facing online store in Canada,
in April.
Founded in 2018 under the female-led parent
company TRUWOMEN, TRU Brands has grown into a nationally recognized
brand and is sold online and through major U.S. retailers,
including Target, Walgreens, and Whole Foods. The company’s line of
dessert-inspired protein bars is made with plant-based ingredients
such as cassava, cacao, and brown rice protein, and are certified
vegan, gluten-free and kosher, as well as dairy and soy-free,
non-GMO verified, and free of sugar alcohols.
"I am so excited about our growth velocity and
momentum as a company," said Erica Groussman, co-founder and CEO of
TRU Brands. "There is something so special about taking a brand
from incubation to expansion, and the thrill really never goes
away. Even as we set to enter another 800 Canadian storefronts and
open up international DTC, our success feels surreal. We can’t wait
to bring our innovative products to even more customers throughout
North America."
The global personalized retail nutrition and
wellness market size was valued at $1.6 billion USD in 2019 and is
expected to register a compound annual growth rate (CAGR) of 8.5%
from 2020 to 2027, according to Grand View Research1. With PureK’s
strategic footprint in the plant-based wellness industries,
including its acquisitions this year of the beauty brand No B.S.
Skincare and the pet care brand BudaPets, the Company’s planned
acquisition of TRU Brands is a natural fit for PureK Holdings
Corp.
As previously announced on March 3, 2021, PureK
has executed a binding term sheet ("LOI") to
acquire TRU Brands Inc. The parties entered into the LOI effective
March 2, 2021 and have begun due diligence. The parties intend to
complete the transaction as soon as is practicable and, subject to
satisfactory completion of customary closing conditions and due
diligence, will use commercially reasonable efforts to enter into a
definitive agreement as soon as possible.
For more information regarding PureK’s execution
of a binding term sheet to acquire TRU Brands, Inc., please see the
Company’s news release dated March 3, 2021.
About PureK Holdings Corp.
PureK Holdings Corp. leads an international
omni-channel platform with diversified assets in the emerging
plant-based and holistic wellness consumer product categories. The
Company’s mission is focused on leading innovation for the informed
Millennial and Generation Z generations in the rapidly growing
plant-based, natural, and clean ingredient space. The Company
continues to focus on expansion into high-growth consumer product
categories including CBD products, plant-based food and beverage,
and the global pet care and skin care industries. For more
information on PureK Holdings Corp., please visit
https://purekana.com/investor-relations/. (Daniel, change font size
to match release).
For further information:
Brian MeadowsChief Financial OfficerPh: +1 (855) 553-7441Email:
ir@purekana.com
Daniel NussbaumMedia and Investor RelationsPh: +1 (917)
232-8960Email: Daniel@amwpr.com
Forward-Looking Information
Certain statements contained in this news
release constitute "forward-looking information" and
"forward-looking statements" as such terms are used in applicable
Canadian securities laws. Forward-looking statements and
information are based on plans, expectations and estimates of
management at the date the information is provided and are subject
to certain factors and assumptions, including, that the Company’s
financial condition and development plans do not change as a result
of unforeseen events and that the Company obtains regulatory
approval. Forward-looking statements and information are subject to
a variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from
those projected in such forward-looking statements and information.
Factors that could cause the forward-looking statements and
information in this news release to change or to be inaccurate
include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company’s
financial condition and development plans change, and delays in
regulatory approval, as well as the other risks and uncertainties
applicable to the CBD or broader wellness industries and to the
Company, and as set forth in the Company’s Filing Statement in
respect of its qualifying transaction filed under the Company’s
profile at www.sedar.com. The Company undertakes no obligation to
update the forward-looking statements and information, other than
as required by applicable law.
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 press release.
1 Source;
https://www.grandviewresearch.com/industry-analysis/personalized-retail-nutrition-wellness-market#:~:text=The%20global%20personalized%20retail%20nutrition,in%20the%20past%20few%20years
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