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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Sire Bioscience Inc.    SIRE   CA82964J2092

SIRE BIOSCIENCE INC.

(SIRE)
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Sire Bioscience : Fusion Nutrition Inc. Files Four New NPN Applications with Health Canada

08/24/2020 | 08:46am EST

(via TheNewswire)



Mississauga, ON -TheNewswire -August 24,2020 -Fusion Nutrition Inc.("FUSION"), a leading sports nutrition company founded in 1998 and a recent acquisition ofSire Bioscience Inc. ("SIRE") (CSE:SIRE)(CNSX:SIRE.CN)(OTC:BLLXF) (FSE:BR1B) ("Sire" or the "Company") has filed four new NPN applications with Health Canada, strengthening an already-robust development pipeline.


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What is an NPN?

To be legally sold in Canada, all natural health products, which includes the sports nutrition category, must have a product license before they can be sold. To secure a license, applicants must provide detailed information about the product to Health Canada, including medicinal ingredients, source, dose, potency, non-medicinal ingredients, and recommended use.

Once Health Canada has assessed a product and decided it is safe, effective, and of high quality, it issues a product license along with an eight-digit Natural Product Number (NPN), which must appear on the label. Thisnumber lets the public know the product has been reviewed and approved by Health Canada. In a market flooded with health supplements - some legitimate, some not - it is also an added assurance of quality.

FUSION currently holds 30 NPNs, which are on the market today. The addition of these four will greatly support the brand strategy and architecture.

Formulated by Ben Pakulski, Mindset & Physical Performance Expert

These recent filings were formulated by SIRE's Director of Science, Ben Pakulski. Ben's profile as an IFBB professional and his pursuit of cutting-edge supplementation have strengthened FUSION's research and development department.

"These high-specification products will provide an ultra-premium supplement offering in the field of optimal human performance," Pakulski states. "When Health Canada approves these offerings for sale in Canada, I'll share my rationale for their development and how they'll help athletes outside the current market offerings."

Adapting to Meet Evolving Consumer Needs

FUSION's customer base is ever growing and evolving. To stay relevant and keep pace with its audience, FUSION is continually researching new products and ingredients. With these recent NPN filings, FUSION will expand its already-comprehensive portfolio to include more supplements with unique properties - i.e. greater choice for consumers.

For people who already use and love FUSION products, this will drive even greater brand loyalty. Meanwhile, the buzz around the new offerings will also help FUSION reachnewaudiences looking for safe, effective products legally backed by Health Canada.

In short, FUSION's expanded portfolio will be a win-win; beneficial for both consumers and the company. Its focus on innovation helped establish FUSION in 1998, and will continue to set the brand apart in the years to come.

###

About Fusion Nutrition Inc.

Website: fusionmuscle.com

Socials: @fusionmuscle

Founded in 1998, FUSION is a Canadian-based, leading supplement company with national distribution. It currently hosts multiple brands, including some of the fastest-growing supplements in Canada and numerous category leaders sold in Canada's top five retailers. FUSION products are developed using the latest research available, with the goal of providing maximum efficacy by supporting the human body in its own natural processes.

About Sire Bioscience Inc.

Website: sirebioscience.com

Socials: @sirebioscience

SIRE's principal business activity is to engage in the investment, production of, development of hemp, CBD and non-CBD products. SIRE has its wholly-owned facility in Leamington, Ontario. The land parcel includes 50 acres of prime horticultural land, with a 160,000 sq. ft. facility of combined greenhouse and indoor space. SIRE's goal is to become a vertically integrated CPG life science company with its "House of Brands" offering.

SIRE is headquartered in Mississauga, Ontario and is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer packaged goods, manufacturing, logistics, and distribution.

FOR INFORMATION, CONTACT:

Sire Bioscience Inc.

E:ir@sirebioscience.com

The CSE and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.

Forward-Looking Information Cautionary Statement

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".The forward-looking information contained herein include, but is not limited to, approval of FUSION's four NPNs by Health Canada, the benefits of FUSION's expanded portfolio and expectation that Fusion's customer base will grow.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risks Factors" in the Company'sListing Statement dated August 22, 2019 and filed on the Company's SEDAR profile. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.

Copyright (c) 2020 TheNewswire - All rights reserved.

Copyright (c) 2020 TheNewswire - All rights reserved., source Press Releases

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Financials
Sales 2019 - - -
Net income 2019 -6,40 M -5,04 M -5,04 M
Net Debt 2019 3,18 M 2,50 M 2,50 M
P/E ratio 2019 -1,13x
Yield 2019 -
Capitalization 8,27 M 6,51 M 6,52 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 85,5%
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Managers and Directors
NameTitle
Brian Polla President, CEO, Chief Operating Officer & Director
Domenic Crudo Chief Financial Officer & Secretary
Ben Pakulski Science Director
Jerry Habuda Independent Director
Brian Nugent Independent Director
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