NEXE Innovations Inc. announced that it has signed a non-binding letter of intent dated May 15, 2021 with Rritual Superfoods Inc. The parties plan to form a strategic alliance leveraging the combined strengths of each organization. Rritual's product development for innovative adaptogens, combined with NEXE's plant-based, single serve packaging, will maximize the consumer experience. NEXE and Rritual will work together, building on their initial feasibility work, which includes product testing in the areas of taste profile and mixability.

The anticipated initial product will be branded as Rritual Superfoods Pod 'powered by NEXE.' This product line will be added: to Rritual's current SKUs for online sales; to CROSSMARK sales and distribution network, which includes over 3,000 retailers; and made available to other current and future retailers. Mass retail buyers have indicated that non-biodegradable plastic beverage pods will be phased out of stores in the future, necessitating innovation and leadership.