VANCOUVER, BC, March 11, 2021 /CNW/ - Rritual Superfoods Inc. ("Rritual"or the "Company")(CSE: RSF) (CSE: RSF.WT) is pleased to provide shareholders with a corporate update outlining the successful launch and implementation of the company's US facing E-commerce website as well as highlight other key corporate milestones such as the ECRM Buyers Choice Award and receiving USDA Organic Certification.
Launch of US E-Commerce Website
Rritual is excited to announce the launch of its first suite of products for sale through the implementation of its new US facing E-commerce website, Rritual.com . Customers are able to sign up for monthly subscriptions. In addition to the products, website users will be able to browse a variety of articles, product information, recipes and usage notes in its blog. This suite of products will be focused on its functional superfood elixir canisters and stick packs, which will include the following lineup:
- Chaga IMMUNE with adaptogens Eleuthero Root & Astragalus
- Lion's Mane FOCUS with adaptogens Rhodiola Rosea Root & Bacopa
- Reishi RELAX with adaptogen Ashwagandha also featuring Cacao
- Variety pack including all 3
All of Rritual's product lines include Rritual's proprietary Immune-Synergy Six Mushroom Blend which offers a full spectrum of antioxidants & balance of flavour as well as a Daily Prebiotic blend which nourishes a healthy gut microbiome and helps support normal digestive function.
David Kerbel, CEO Commented: "We aim for our website to be a robust platform for wellness, nutrition and superfood education. Rritual will be launching various content series to help at-home fitness, mindfulness, meditation, and yoga, amongst other things. Rritual's goal is always to help their website visitors evolve their daily ritual, and the website will be a great place to assist with that journey."
ECRM Buyer's Choice Awards
Rritual is also pleased to highlight their Reishi Relax products won a ECRM Buyer's Choice Award at the 'Whole Body & Mind Wellness' virtual trade show. The product was selected among dozens of consumer brands in the wellness space by leading retail buyers, including CVS, Vitamin Shoppe, Amazon, Rite Aid and other national outlets. During this year's virtual event, retailers cited Rritual's inviting and attractive packaging, design and expert formulations, as their primary reasons for selecting the brand for the award.
USDA Organic Certification
The Company has received its United States Department of Agriculture (" USDA") Organic Certification for its product line. Operating as a Certified Organic company means that, from the farm through processing, Rritual's ingredients have undergone strict scrutiny to verify they are free from antibiotics, toxic pesticides, synthetic hormones, & genetically-modified organisms (GMOs).
USDA regulations aim to increase safety, purity, sustainability, ecological balance, and biodiversity throughout the manufacturing process. As opposed to claims surrounding 'natural' products, which is an unregulated term, in order to receive USDA Organic Certification a product must contain 95% or more organic ingredients and have been produced according to the USDA standards and regulations.
Retention of Market Making Services
The company is also pleased to announce that they have retained Generation IACP Inc. (" Generation") to provide trading (market-making) services to the Company with respect to the Company's common shares listed on the Canadian Securities Exchange ( CSE). Pursuant to the agreement with Generation and the (the "Agreement"), the Company has agreed to pay Generation a fee of C$7,500 plus any applicable taxes, per month on a 3-month term. Generation will not receive any other remuneration for its services by the Company. Generation currently does not own any securities of Rritual; however, Generation and its clients may acquire a direct or indirect interest in the securities of the Company from time to time.
Generation and the Company are unrelated entities. Generation is a member of the Investment Industry Regulatory Organization of Canada and a member firm of the Toronto Stock Exchange and the TSX-V. The initial term of the Agreement is three months. Notwithstanding the foregoing, Generation has the right to terminate the Agreement at any time upon prior written notice to the Company.
Rritual is a functional superfood company that creates plant-based elixirs, which support immunity, focus and relaxation. The company is poised to dominate a segment where demand and sales are growing exponentially. Under the executive leadership with over 100 years of CPG pedigree, Rritual is launching in North America in Q2 2021 as the company positions itself as a leader in the functional health and wellness industry. Rritual's superfood elixirs can be found online at www.rritual.com.
Functional Foods Market
According to Grandview Research*, it is estimated that the global functional food market is projected to reach $275 billion by 2025, growing at 7.9% each year with consumers putting more emphasis on health and wellness.
Certain information contained in this news release may constitute forward-looking information under applicable securities laws including, but not limited to, statements related to the anticipated time of trading of the Common Shares on the CSE, the anticipated use of net proceeds raised under the Offering, the Company's vision of becoming a global leader in food technology, the attributes of the Company's products as healthier alternatives to existing options and the Company's plans to scale operations, establish a market leadership position and build a globally recognized brand. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to it and are made as of the date of this news release. However, the Company does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada.
Actual results and the timing of events or developments may differ materially from those expressed or implied in the forward-looking information as a result of various risks, uncertainties and other factors, including, without limitation, those described in the "Risk Factors" section of the Prospectus such as negative cash flow and future financing requirements to sustain operations, dilution, limited history of operations and revenues and no history of earnings or dividends, competition, economic changes and the impact of and risks associated with the ongoing COVID-19 pandemic. A copy of the Prospectus can be accessed under VGF's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. We caution that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect our results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
SOURCE Rritual Superfoods