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SALT LAKE CITY, June 4, 2013 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN), a company dedicated to helping people achieve healthy living through a combination of a compelling business opportunity and scientifically validated products, has announced that it has expanded its direct selling business into Canada.
Previously, LifeVantage has sold its products, Protandim®, the Nrf2 Synergizer® and TrueScience® Anti-Aging Cream on a limited basis to preferred customers in Canada, but did not offer the opportunity for interested customers to participate in the company's business opportunity. Effective June 5, however, the company will be accepting applications for independent distributors in Canada and will begin paying commissions to qualified independent distributors later during the month of June.
"For nearly two years, our distributors and preferred customers have demonstrated a substantial demand for our products and business opportunity in Canada," said LifeVantage President and Chief Executive Officer Douglas C. Robinson. "We also realize that a large opportunity exists for network marketing growth in the country. The World Federation of Direct Selling Associations reported a market of approximately 700,000 distributors and sales of $2.2 billion in 2011 in Canada. We believe an expansion into Canada is, therefore, directly in-line with our commitment to increase operations in countries that we believe represent long-term growth opportunities."
Mr. Robinson continued, "We will begin our Canadian expansion by continuing to offer both Protandim® and TrueScience® to preferred customers and now distributors in Canada, and expect to offer our new LifeVantage Canine Health product in Canada in the future."
With this expansion into Canada, LifeVantage is now doing business in the United States, Canada, Mexico, Japan, Hong Kong and Australia.
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq:LFVN), a leader in Nrf2 science and the maker of Protandim®, the Nrf2 Synergizer® patented dietary supplement, TrueScience® Anti-Aging Cream and LifeVantage
® Canine Health, is a science based nutraceutical company. LifeVantage is dedicated to visionary science that looks to transform wellness and anti-aging internally and externally with products that dramatically reduce oxidative stress at the cellular level. The Company was founded in 2003 and is headquartered in Salt Lake City, UT.
Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe," "hopes," "intends," "estimates," "expects," "projects," "plans," "anticipates," "look forward to" and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding our future growth and success in Canada. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, the Company's inability to successfully expand our operations in existing and other markets and thereafter manage our growth; the Company's ability to strengthen its business in Japan; the Company's reliance on third party suppliers and manufacturers; the Company's ability to retain independent distributors or to attract new independent distributors on an ongoing basis; the Company's ability to expand its product offerings; violations of law or our procedures by the Company's independent distributors; the potential for third-party and governmental actions involving the Company's network marketing efforts; the potential for product liability claims against the Company; the risk that government regulators and regulations could adversely affect the Company's business; future laws or regulations may hinder or prohibit the production or sale of the Company's existing product and any future products; unfavorable publicity could materially hurt the Company's business; the Company's ability to access raw materials for its Products as it grows; risks associated with foreign currency fluctuations; and the Company's ability to protect its intellectual property rights and the value of its product. These and other risk factors are discussed in greater detail in the Company's Annual Report on Form 10-K and its Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
CONTACT: Investor Relations Contact:
Cindy England (801) 432-9036
Director of Investor Relations
John Mills (310) 954-1105
Senior Managing Director, ICR, LLC