Element Nutritional Sciences Inc. announced it has signed a distribution agreement with OCSB Emerging Brands Group, whereby OCS Brands will distribute Rejuvenate across the convenience services channel in the U.S.
OCS Brands connects retailers in the convenience services channel with proven and innovative brands. OCS Brands’ convenience services network includes approximately 12,000 vending, micro market, pantry and other convenience services companies along with travel, specialty retail and hospitality clients nationally. In total, OCS Brands has access to over 75,000 points of distribution. Led by a team with more than a century of expertise in all facets of the value chain within the convenience services vertical, OCS Brands provides a clear path to shortening the sales cycle and delivering a faster ROI to its partners.
Stuart Lowther, chief executive officer, commented in the announcement, “With Rejuvenate firmly established in the U.S. pharmacy channel and a rapidly scaling e-commerce presence, we are continuously looking to partner with operators that can bring Rejuvenate to new consumers, especially those seeking functional benefits. OCS Brands distributes a roster of brands that align with our mission to help people live happier and healthier lives. This is our first step in executing our single serve strategy in the U.S. market to give consumers greater access to Rejuvenate. This partnership also provides a greenfield opportunity for Rejuvenate in the US$31 billion U.S. convenience services industry.”
Si Rawls, chief operating officer of OCSB, added in the announcement, “We are thrilled to partner with Element in launching their Rejuvenate brand into the convenience services channel. Today's buyer is looking for brands to meet a specific purpose when it comes to health and wellness. The science behind Rejuvenate goes well beyond traditional protein drinks, which will bring higher value sales to our operator partners.”
Element Nutrition also announced it has filed and obtained a receipt for a final short form base shelf prospectus from the securities regulatory authorities in each of the provinces and territories of Canada. The shelf prospectus will allow the company to offer up to C$28,000,000 of common shares, warrants, subscription receipts and units during the 25-month period that it is effective.
The specific terms of any future offering under the shelf prospectus will be established in a prospectus supplement, which supplement will be filed with the applicable Canadian securities regulatory authorities. The company has filed the shelf prospectus in order to maintain financial flexibility as it continues to scale its business. There is no certainty that any securities will be offered or sold under the shelf prospectus within the 25-month period that it is effective.
Element, founded in 2015 and located in Burlington, Ontario, is an innovative and research-driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on men and women over the age of 50. Element’s lead product, Rejuvenate, is a proprietary formulation that is clinically proven to assist in the rebuilding, restoration and rejuvenation of natural loss of muscle mass due to aging or other medical conditions.