TORONTO, Nov. 15, 2021 /CNW/ - The Well Told Company Inc.
("Well Told" or the "Company") (TSXV: WLCO), the
female-founded wellness company that offers plant-based
supplements, remedies, and other functional wellness products, is
pleased to announce a corporate update regarding year over year
same-store sales as well as gross margin growth.
Well Told reports a 142% increase in year to date (November 10, 2021), year-over-year same-store
sales, as the Company's distribution points also continue to
rapidly increase. Additionally, Well Told has seen an increase of
its year-over-year gross margin by 6.4 percentage points
(unaudited), which was successfully achieved through a reduction in
raw materials and packaging costs throughout the year.
Commenting on these tremendous results, Monica Ruffo, founder and CEO of Well Told,
stated, "Both of these indicators were key milestones for us in
2021 and I am very proud that our team has achieved them. While we
are just getting started with many retailers, we are beginning to
see some very healthy year over year same store sales numbers come
in from retailers who have now been with us for a couple of years.
We consider this to be a testament of consumer demand and things to
come, as our brand continues to gain awareness, trial and repeat
purchase."
Readers are cautioned that the financial information disclosed
herein is unaudited and is qualified entirely by the financial
results to be disclosed in the interim financial statements of the
Company's operating subsidiary (Well Told Inc.) for the period
ended September 30, 2021 to be filed
on SEDAR (www.sedar.com) or on before November 29, 2021, and the annual audited
financial statements of the Company for the period ended
December 31, 2021 to be filed on
SEDAR (www.sedar.com) or on before May 1,
2022.
All financial information presented in this press release has
been prepared in accordance with generally accepted accounting
principles in Canada as set out in
the CPA Canada Handbook – Accounting under Part I, which
incorporates International Financial Reporting Standards as issued
by the International Accounting Standards Board.
About The Well Told Company Inc.
Well Told is a female founded, emerging plant-based wellness
company that formulates, develops, distributes and sells a variety
of supplements, remedies and other functional wellness products.
Founded by serial entrepreneur and award-winning leader
Monica Ruffo, it was after
undergoing treatment for breast cancer, and deciding to take her
health into her own hands that she discovered the lack of
transparency and availability of clean, plant-based formulations in
the wellness industry. With the mission "Clean wellness for all",
Well Told's products are currently available in over 2,000 stores
across Canada including several
well-known retailers.
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.
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 as they relate to the Company are intended to identify
forward-looking information. All statements other than statements
of historical fact may be forward-looking information. Such
statements reflect the Company's current views and intentions with
respect to future events, and current information available to the
Company, and are subject to certain risks, uncertainties and
assumptions, including: the Company's ability to capitalize on
growth opportunities and implement its growth strategy; the
Company's ability to build its market share and enter new
geographies; the total available market for the Company's products;
the Company's ability to maintain brand development; the Company's
ability to retain key personnel; the Company's ability to maintain
existing customer relationships and to continue to expand its
customers' use of its products; the Company's ability to maintain
and expand geographic scope; the Company's ability to obtain
financing on acceptable terms or at all; the impact of competition;
the changes and trends in the Company's industry or the global
economy; and changes in laws, rules, regulations, and global
standards. 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.
Examples of such risk factors include, without limitation: credit;
market (including equity, commodity, foreign exchange and interest
rate); liquidity; operational; reputational; insurance; strategic;
regulatory; legal; environmental; the general business and economic
conditions in the regions in which the Company operates; the
ability of the Company to execute on key priorities; the Company's
results of operations may be difficult to forecast; the Company is
a holding company with its only asset being direct ownership of
Well Told Inc.; the Company's success depends upon the continued
strength of its reputation and brands; disruptions in manufacturing
facilities or losses of site licenses and other qualifications
could adversely affect sales and customer relationships; the
Company's success depends on its ability to continue to enhance
products and develop new products; the Company's suppliers and
sources for materials and inputs may fail to support demand and
increasing raw material costs could adversely affect margins; the
Company is reliant on third parties for shipping and payment
processing; the Company's ability to compete could be negatively
impacted if it is unable to protect its intellectual property
rights; the ability to implement business strategies and pursue
business opportunities; disruptions in or attacks (including
cyber-attacks) on the Company's information technology, internet,
network access or other voice or data communications systems or
services; the evolution of various types of fraud or other criminal
behavior to which the Company is exposed; the failure of third
parties to comply with their obligations to the Company or its
affiliates; the impact of new and changes to, or application of,
current laws and regulations; granting of permits and licenses in a
highly regulated business; the overall difficult litigation
environment; increased competition; changes in foreign currency
rates; increased funding costs and market volatility due to market
illiquidity and competition for funding; the availability of funds
and resources to pursue operations; critical accounting estimates
and changes to accounting standards, policies, and methods used by
the Company; the occurrence of natural and unnatural catastrophic
events and claims resulting from such events; and risks related to
COVID-19 including various recommendations, orders and measures of
governmental authorities to try to limit the pandemic, including
travel restrictions, border closures, non-essential business
closures, quarantines, self-isolations, shelters-in-place and
social distancing, disruptions to markets, economic activity,
financing, supply chains and sales channels, and a deterioration of
general economic conditions including a possible national or global
recession; as well as those risk factors discussed or referred to
in the Company's disclosure documents filed with the securities
regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should
any factor affect the Company 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, the Company 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 the Company undertakes no obligation to publicly update
or revise any forward-looking information, other than as required
by applicable law.
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SOURCE The Well Told Company Inc.