February 8, 2021 (Vancouver, BC) – NEXE Innovations Inc. (“NEXE” or the “Company”) (TSXV:NEXE), is pleased to announce that the XOMA Superfoods online store, which the Company just opened to the public on February 5th, has completely sold out of its initial inventory of its proprietary pods under the pilot launch. XOMA Superfoods, with its initial Micro-Ground Soluble Coffee with medium-chain triglycerides (MCT) oil offering, is the first commercial product released by NEXE.
President Ash Guglani stated, “We are extremely pleased that our first commercial offering has completely sold out in such a short period of time. Although this is a pilot program for the Company to better grasp the dynamics involved with operating an online store, we are blown away by the interest that we have received for our XOMA Superfoods launch. This has validated our thesis of combining coffee with superfoods, namely, MCT oil in this case, encapsulated in our fully compostable and proprietary pod. We are now faced with the great problem of not only delivering more coffee and MCT-filled pods to the market but also expanding out our superfoods portfolio.”
NEXE Innovations kindly thanks all of its customers for their purchases and looks forward to releasing additional coffee and MCT-filled pods as well as providing more superfoods SKUS to its lineup.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable technology and advanced materials innovation 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 existing major single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods (+40 billion plastic pods discarded every year). With over $35M raised (equity and government funding) to date 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
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, and increase production capacity, 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.
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.