BURLINGTON, ON, Feb. 1, 2024 /CNW/ – Promino Nutritional Sciences Inc. (CSE: MUSL) (OTC: MUSLF) (FRANKFURT: 93X) (the “Company” or “Promino”) has received a request from OTC Markets Group Inc. (“OTC Markets”) to issue a statement about recent promotional activity regarding its common shares (the “Common Shares”).
On January 29, 2024, OTC Markets informed the Company that it became aware of certain promotional activities related to the Company and the Common Shares traded on the OTCQB market, including the distribution of content published by Sideways Frequency LLC (“Sideways”) and its associated partners (including Huge Alerts) discussing the Company, its business and operations, and other functional beverage companies generally, including those that are publicly traded. OTC Markets provided an example of the promotional material for the Company’s reference (the “Article”).
The Company and its officers were not involved, directly or indirectly, in the creation or distribution of the Article. The Company is not aware of any increased or unusual trading activity in the Common Shares as a result of this Article. After an inquiry by management, none of the Company’s executive officers, directors or controlling shareholders have sold or purchased shares of the Company within the past 90 days. Sideways acquired 1,375,000 Common Shares on December 11, 2023, which Common Shares remain resale restricted as of the date hereof; other than such acquisition, to the knowledge of the Company, no third-party service providers referred to herein have sold or purchased shares of the Company within the past 90 days. Other than as previously disclosed in the Company’s public filings, the Company has not issued any shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
Sideways is a third-party marketing firm that was engaged by the Company to provide native advertising and digital marketing services. The content produced by Sideways included factual statements regarding the Company, its business, operations and industry. The Company provided Sideways with publicly available source information for the content, but did not have editorial control over the content. The Company wishes to ensure any information disseminated in respect of the Company is complete and balanced, and does not include any factual innacuracies or misleading information, and accordingly wishes to clarify that the opinions of Sideways included in the Article are solely the opinions of Sideways and were not disseminated with the approval, or at the direction, of the Company. As noted in the Article, the Company wishes to clarify to investors (consistent with cautionary language included in the Company’s continuous disclosure record available at www.sedarplus.ca) that it is an early-stage issuer, the total size and economic potential of the Company’s business have not yet been established, and it may not be able to achieve it’s growth objectives in the near term, or at all. Any implication in the Article that the Company’s business may increase proportionately to those of companies noted in the Article offering other CPG beverage products is speculative in nature and solely made by Sideways. All investors are encouraged to review the Company’s continuous disclosure filings for comprehensive and current risk disclosures. The appointment of Sideways, the nature of the relationship between the Company and Sideways, as well as compensation to be paid to Sideways was publicly disclosed in a Company news release dated January 21, 2022, which can be found under the Company’s public profile on SEDAR+. Sideways owns and controls securities of the Company representing less than 1% of the total issued and outstanding Common Shares.
In the last 12 months, the Company has worked with Loderock Advisors Inc., Gold Standard Media LLC, Financial Research & Publication Ltd. and Sideways to provide marketing, investor relations, public relations, or other related services to the Company.
Promino™ is NSF Certified for Sport, which means it is free of banned substances and approved for use by all major sports leagues. Additionally, Promino invested in a rigorous flavoring process with a top tier U.S. flavor house responsible for creating the taste of several of North America’s best-selling sports nutrition beverages. Followed by extensive in-market consumer testing, the Company will launch two refreshing fruit flavors in Q2 2024.
Promino™ and Rejuvenate™ utilize a patented formula from the University of Arkansas, led by Dr. Robert Wolfe and is the result of over USD $20 million in research over 23 years including extensive human clinical trials on muscle repair, recovery and muscle protein synthesis.
The patented essential amino acid blend, in the precise ratio to accelerate muscle protein synthesis, is fast-absorbing and provides the body with the building blocks of protein faster, without the excess calories, filler and carbohydrates of conventional whey or plant proteins. Promino™’s patented amino acid formula contains the essential building blocks of protein and are shown to be the highest quality protein source in the world based on the rising gold standard of protein quality – DIAAS – which measures the uptake of these key amino acids in the digestive tract. With a 321 DIAAS (Digestible Indispensable Amino Acid Score), Promino™ is superior to whey protein at 109i.
Promino™’s patented amino acid formula contains the essential building blocks of protein and are shown to be the highest quality protein source in the world based on the rising gold standard of protein quality – DIAAS – which measures the uptake of these key amino acids in the gut. With a 321 DIAAS (Digestible Indispensable Amino Acid Score), Promino™ is superior to whey protein at 109.
Promino™ is more effective than whey protein at producing the desired results – with none of the fat, sugar, carbs and bloat. It is a significant step forward for pro and collegiate athletes.
Promino 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 muscle health. Promino’s lead product, Rejuvenate™, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Promino also offers Promino™, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Promino was founded in 2015 and is located in Burlington, Ontario.
To learn more about Promino, visit elmtinc.com.
More information about Rejuvenate™ can be found www.rejuvenatemuscle.com.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, are forward-looking statements, including statements regarding: product launch dates; the expected effect of the Promino™ and Rejuvenate™ products on the protein market, the Company and its business, including any anticipated benefits to the Company; and the Company’s business prospects, future trends, plans and strategies. In some cases, forward looking statements are preceded by, followed by, or include words such as “may”, “will,” “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “anticipates”, “continues”, or the negative of those words or other similar or comparable words. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that general business and economic conditions will not change in a materially adverse manner. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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| i Agriculture and Agri-Foods Canada, 2014 Protein Trends & Technologies Seminar. |
SOURCE Promino Nutritional Sciences Inc.
