VANCOUVER, BRITISH COLUMBIA – April 13, 2021 – NEXE Innovations Inc. (TSXV:NEXE) (“NEXE” or the “Company”), a leader in plant-based materials manufacturing, is pleased to announce that its signature consumer product line, XOMA Superfoods, is today launching its Mindful Mushroom coffee, now available at xomasuperfoods.com.
XOMA Superfoods is NEXE’s in-house coffee and superfoods brand. The new Mindful Mushroom coffee blend features chaga, cordyceps and lion’s mane mushrooms, providing a rich, low-calorie source of fibre, protein and antioxidants.The XOMA eCommerce store launched one week ago on April 6th, offering its first product, XOMA Coffee Fortified with MCT, for which demand has been substantial.
“Mushroom coffee has become increasingly popular in recent years for its health benefits, and we are excited to add this great-tasting coffee to our product line,” said Marc Bains, President of XOMA. “Our customers are not only health-conscious, but also environmentally-conscious. XOMA pods deliver great taste, health benefits, convenience, and sustainability.”
According to a report by Research and Markets, the global edible mushrooms market is expected to reach US$62 billion by 2023. KBV Research reported that The Global Superfoods Market size is expected to reach US$209.1 billion by 2026.
“Our premium coffees, including our new mushroom coffee, are packaged exclusively in our single serve, fully compostable, plant-based NEXE pods, which are compatible with the popular, Keurig single-serve coffee brewing systems,” added Bains. “We created these pods to be completely compostable in their entirety, providing the ultimate in convenience and sustainability.”
NEXE recently secured $34.5M in financing, giving the Company a total of approximately $52M in cash, with which it intends to dedicate substantial resources to becoming a leader in the global superfoods market.
About XOMA Superfoods
XOMA Operations Inc. is a subsidiary of NEXE Innovations Inc. Xoma Superfoods produces and distributes high-quality coffee and superfood creamers packaged exclusively in single-serve, fully compostable, plant-based pods.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable technology and advanced materials manufacturing based in British Columbia, Canada. The company has developed one of the only patented, fully compostable, plant-based, single-serve coffee pods for use in leading single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods, >40 billion of which are discarded every year. With over $30M raised to date from equity and government funding and over five years of R&D, NEXE is well-positioned to meet the growing demand for environmentally friendly and sustainable products in the single-serve coffee sector and beyond.
For additional information, please contact:
Ash Guglani, President and director
Kelsey Letham, Investor Relations at 604-359-4731
or visit: nexeinnovations.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include the proposed use of proceeds, commercialization of the NEXE PODs, including the NEXE Nespresso Compatible Pod, increase production capacity, demand and/or sales of its products, create other environmentally friendly compostable packaging opportunities, development of technologies, the potential of the Company’s technology, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, consumer demand for and sentiment towards the Company’s products, security threats, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, litigation, increase in operating costs, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, competition, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.