RISE Provides Operational Update
Toronto, Ontario--(Newsfile Corp. - April 30, 2019) - RISE Life Science Corp. (CSE: RLSC) (the "Company" or "RISE") today provided a corporate update.
"The last 12 months marked a series of important accomplishments that we believe will set the stage for growth in 2019 and beyond," commented Scott Secord, Executive Chairman of RISE. "We are proud and excited about our growing line of high quality organic, non-GMO hemp-based CBD products with proprietary nanotized technology, designed to address everyday wellness. We believe that our product portfolio positions us well for future growth and we look forward to further executing on our plans in 2019."
2018 and Q1 2019 key operational highlights include:
KarezzaTM brand CBD sexual wellness Oral spray product line launched in California dispensaries, health and wellness stores and other retail locations
RISE completed aggregate financings of $11,761,170 to fund the growth of the Company's operations and potential acquisitions
RISE acquired a 100% interest in California-based Life Bloom OrganicsTM, expanding RISE's portfolio of hemp-based CBD products from sexual health and wellness to include Sleep and General Wellness formulas all containing Life Bloom's proprietary process of nanotizing hemp-based CBD for increased bioavailability without psychoactivity
RISE commenced the in-house manufacture and packaging of its hemp-based CBD products for retail and online sales in the United States
Scott Secord, previously Chief Executive Officer of Gaming Nation, and Greg Mills, former Head of Equity Trading at RBC Capital Markets and current Chairman of Aequitas Innovations, joined the Company's Board of Directors
Oral spray product portfolio expanded beyond Wellness Formula and Sleep Formula, to add sports Recovery Formula, PMS Formula and Intimacy Formula Oral sprays, each featuring the Life Bloom Organic brand's core ingredient - 120mg of organic hemp-based CBD oil extract
RISE implements two new delivery systems: (i) quick-dissolve Oral tablets for all of its product lines which enables more choice and greater portability for the consumer without sacrificing any of the quality and (ii) topical applications in the form of both balm and lotion
RISE successfully transitioned its lab facility to a new scalable manufacturing and packaging facility providing a capacity of 100,000 units per month
RISE Product Portfolio
With the further expansion of its product portfolio, RISE is proud to now offer several hemp-based CBD products. Life Bloom Organics' proprietary Nano hemp extract formulas can be found at natural health food markets, chiropractic offices, specialty retailers and dispensaries in New York and California, as well as online at www.lifebloomorganics.com.
Wellness Formula. Inspired and created in Malibu, California, our Wellness Formula contains CBD extracted from certified organic, non-GMO premium hemp grown in the USA. Our intra-oral sprays utilize an innovative nanotized delivery method allowing for a higher bioavailability, providing the balance you need, faster and adding a healthy boost to your day. Wellness Formula has 120mg of premium nano hemp extract per bottle, is non-psychoactive and utilizes a water-based, alcohol-free formula.
Sleep Formula. Sleep Formula utilizes our signature high dose intra-oral spray that leverages the powers of hemp extracted CBD with traditional sleep support ingredients to help achieve a more restful night's sleep without feeling groggy in the morning.
Sports Recovery Formula. Designed for those looking for pre- and post-workout muscle recovery, as well as performance support during workouts, Recovery Formula features 120mg of organic hemp oil extract per bottle to help balance the body's systems and deliver key botanical actives.
PMS Formula. Created to address requests from female customers seeking to ease occasional discomfort stemming from common premenstrual symptoms, PMS Formula features120mg of organic hemp oil extract to help balance the body's systems and deliver targeted botanical actives.
Intimacy Formula. Combining 120mg of certified organic, non-GMO, US-grown hemp extract with arousal-enhancing botanicals to help create a more pleasurable sexual experience for its users, Intimacy Formula is designed to help the average person relax, get in the mood and enjoy the moment.
In addition, Life Bloom Organics is making exciting moves into new categories with the introduction of two new delivery systems: quick-dissolve oral tablets as well as topical products.
Quick-dissolve Oral Tablets
The Life Bloom Organics brand's classic oral spray formulas, Sleep and Wellness, as well as its newer Muscle Recovery, PMS, and Intimacy formulas, are all now also available in a convenient quick-dissolve tablet form. Life Bloom Organics tablets provide users with the lasting benefits of oral sprays, now in the convenience and portability of a fast absorbing chewable incorporating powdered hemp-based CBD and functional ingredients.
Topical Muscle Recovery
Life Bloom Organics also now offers topical solutions with the launch of the new Muscle Recovery Lotion and Muscle Recovery Balm. The new additions feature LBO's proprietary nano CBD extract along with magnesium sulfate and soothing natural emollients, resulting in a quick-absorbing lotion and a deep-action, rich balm for focused muscle recovery.
Scott Secord to serve as Interim CEO
The Company announces today that Scott Secord, previously Executive Chairman, will assume the role of interim Chief Executive Officer of the Company. Ryan Rocca will resume his original role as General Manager of RISE Life Science USA, focused on driving awareness and retail, wholesale and online sales of RISE's growing line-up of Oral spray, tablet and topical CBD products.
About RISE Life Science Corp.
RISE is currently developing and evolving medical and adult-use hemp-based formulations to create general use health and well-being products for the emerging consumer category made possible by the legalization of hemp in the United States pursuant to the Agricultural Improvement Act of 2018. The Company launched its CBD-based sexual wellness products in June 2018. The acquisition of Life Bloom Organics in July 2018 expanded RISE's portfolio of CBD products from sexual health and wellness products to include general wellness, sleep, sports and muscle recovery and PMS products and provides access to Life Bloom's existing channels of distribution and production in the United States and California in particular. RISE also leverages Life Bloom's proprietary process of nanotizing CBD for increased bioavailability (without psychoactivity) in future products created under the RISE brand umbrella.
Cautionary Statement Regarding Forward-Looking Information
The Canadian Securities Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in RISE's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, continue, estimate, expect, intend, may, potential, believe, should, target, goals, projections, anticipated" and similar expressions, are forward- looking statements. Forward-looking statements may include, without limitation, statements including the Company's expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although RISE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: general economic conditions; pending and proposed legislative or regulatory developments including the impact of changes in laws, regulations and the enforcement thereof; reliance on funding models; operational and infrastructure risks including possible equipment failure and performance of information technology systems; intensifying competition resulting from established competitors and new entrants in the businesses in which the Company operates; insurance coverage of sufficient scope to satisfy any liability claims; fluctuations in total customers; technological change and obsolescence; loss of services of key senior management personnel; privacy laws; leverage and restrictive covenants; fluctuations in cash timing and amount of capital expenditures; tax-related risks; unpredictability and volatility of the price of the Company's securities; dilution; and future sales of the Company's securities. Further risks include operational risks of operating in the U.S.; U.S. federal regulation risks; variation in U.S. state regulations; change of U.S. cannabis laws; security risks; risks related to permits and authorizations; risks related to potential acquisitions; risks on liability, enforcement complaints etc.; banking risks; marketing, sales, manufacturing and distribution risk regarding our product growth plans; changes in laws; limited operating history; reliance on management; requirements for additional financing; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult use cannabis industry; and regulatory or political change. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements.
For Investor inquiries, please contact:
Scott Secord, Executive Chairman
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