Proactiveinvestors USA & Canada LeanLife Health https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada LeanLife Health RSS feed en Wed, 20 Feb 2019 06:24:08 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - LeanLife closes first round of financing, raises $1.15 million ]]> https://ca.proactiveinvestors.com/companies/news/214301/leanlife-closes-first-round-of-financing-raises-115-million-214301.html LeanLife Health Inc (CSE:LLP) announced Friday it has closed its second round of funding, raising $1.14 million. 

The company said funds will be used for used for general working capital.

The offering consisted of 22.9 million units at a price of C$0.05 for total gross proceeds of $1,146,000 million. 

READ: LeanLife Health taps Chris Nichols as operations advisor

Each unit will consist of one share and one transferable share purchase warrant, which is exercisable into one further share at a price of C$0.075 per share for three years from closing.

LeanLife delivers high concentration levels of omega-3 as a nutritional additive. Its products are for use in commercial food processing. 

The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.

Such products will include ingredients for making and/or fortifying commercial foods such as bread, noodles, juices, yogurt and cheese.

 

Contact Katie Lewis at katie@proactiveinvestors.com

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Fri, 08 Feb 2019 16:53:00 -0500 https://ca.proactiveinvestors.com/companies/news/214301/leanlife-closes-first-round-of-financing-raises-115-million-214301.html
<![CDATA[News - LeanLife issues stock options ]]> https://ca.proactiveinvestors.com/companies/news/214218/leanlife-issues-stock-options-214218.html LeanLife Health Inc (CSE:LLP) said Thursday that it has granted stock options to certain officers, directors and consultants, pursuant to its 10% rolling stock option plan. 

The company said certain officers, directors and consultants will be entitled to purchase a total of 4,900,000 common shares of the company at an exercise price of C$0.05 per share for a three-year-term.

READ: LeanLife Health taps Chris Nichols as operations advisor

The company said the term will expire on February 7, 2022.

Lean Life Health develops omega-3 products which can be formulated as liquids, emulsions or powders and used as food additives

Shares of LeanLife were up 11.1% at C$0.05 on Thursday. 

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Thu, 07 Feb 2019 18:55:00 -0500 https://ca.proactiveinvestors.com/companies/news/214218/leanlife-issues-stock-options-214218.html
<![CDATA[News - LeanLife Health taps Chris Nichols as operations advisor ]]> https://ca.proactiveinvestors.com/companies/news/214107/leanlife-health-taps-chris-nichols-as-operations-advisor-214107.html LeanLife Health Inc (CSE:LLP) announced Wednesday that it has hired Chris Nichols as operations advisor to consult on the design of the company’s production facility.

Nichols, who will assist the new operations manager Glenn Nichols, boasts over 25 years of operations experience with companies such as Coca Cola and Molson Coors.

READ: LeanLife Health continues in-house testing of its omega-3 products, reprices warrants

Using Six Sigma tools and training, Nichols specialized in process improvement and optimization in his previous positions, leveraging the moves into multiple millions of annualized cost savings. Nichols, who holds a science degree from Simon Fraser University, formerly managed dozens of capital projects from design through to completion. 

Headquartered in Vancouver, Lean Life Health develops omega-3 products which can be formulated as liquids, emulsions or powders and used as food additives. The long-lasting shelf life of the flaxseed oil produced by LeanLife's patented method makes it an ideal fortified food ingredient. It has been used to make bread, noodles, cheese, yogurt, juice and milk products for the European market.

READ: LeanLife Health bolsters team with new operations manager

The global Omega-3 market hit US$33 billion in 2016 and is expected to reach more than $57 billion by 2025, according to a report by Grand View research. Studies have since shown that Omega-3 fatty acids keep nerve cells functioning at optimal speed.

LeanLife shares held steady at C$0.04 in morning trade on Wednesday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Wed, 06 Feb 2019 10:14:00 -0500 https://ca.proactiveinvestors.com/companies/news/214107/leanlife-health-taps-chris-nichols-as-operations-advisor-214107.html
<![CDATA[News - LeanLife Health bolsters team with new operations manager ]]> https://ca.proactiveinvestors.com/companies/news/213759/leanlife-health-bolsters-team-with-new-operations-manager-213759.html LeanLife Health Inc (CSE:LLP) announced Thursday that it boosting its team and has hired an operations manager.

The company said it had appointed Glenn Nichols who will lead the buildout of LeanLife's production facility. 

"Nichols's involvement is part of a company-wide reboot, where every position and expenditure is evaluated for its strategic benefit. He brings more than 15 years of product and operations management experience, having worked with large multicompany teams, combined with a strong automation engineering background," said the company in a release. 

READ: LeanLife Health names Jason Tong as new finance chief

Over the past number of years, Nichols has had a number of roles in the nutraceutical market, bringing a manufacturing plant operational while automating several of its complex processes to maximize efficiencies, reduce labour requirements, and improve product quality and consistency.

The company said one of his primary strengths is his ability to identify problems with current or planned products and processes. His creative solutions have resulted in him being named in several patents granted, pending or in the application stage, for every company he has worked with over the past 18 years.

"LeanLife looks forward to benefiting from Mr. Nichols's expertise as it prepares a clear path to fulfilling its original mandate of providing a shelf-stable omega-3 product to meet the growing demand," said Stan Lis, chief executive officer in a statement.

"I look forward to applying my proven expertise in food production to LeanLife and, in particular, to bringing efficiencies to its processes," said Nichols in a release. 

LeanLife has developed a patented process to isolate omega 3 fatty acids from flax (linen) seeds — one of the richest plant sources of this essential fatty acid.

 

Contact Katie Lewis at katie@proactiveinvestors.com

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Thu, 31 Jan 2019 15:48:00 -0500 https://ca.proactiveinvestors.com/companies/news/213759/leanlife-health-bolsters-team-with-new-operations-manager-213759.html
<![CDATA[News - LeanLife Health names Jason Tong as new finance chief ]]> https://ca.proactiveinvestors.com/companies/news/213627/leanlife-health-names-jason-tong-as-new-finance-chief-213627.html LeanLife Health Inc (CSE:LLP) unveiled some board changes, including the appointment of experienced executive Jason Tong as the group's new finance chief.

He was appointed as chief financial officer following the resignation on January 9 of Casey Forward who stepped down due to health reasons.

READ: LeanLife Health to benefit from Canada’s sweeping new food safety rules

Tong is currently the finance chief at ExGen Resources and is a senior advisor to several high- growth companies.

He has served in senior management roles for a number of public and private companies and was previously the chief financial officer of Pathway Capital Ltd, a venture capital group with a portfolio of early-stage ventures with market caps ranging from $5 million to $100 million.

He was also CFO at Turnberry Resources Ltd from February 2012 until it was acquired in April 2014.

Also in the statement, LeanLife said shareholders had voted in favour of all resolutions at its AGM on January 4 this year.

Vancouver-based LeanLife has developed a patented process to isolate omega 3 fatty acids from flax (linen) seeds — one of the richest plant sources of this essential fatty acid.

Contact Giles at giles@proactiveinvestors.com

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Wed, 30 Jan 2019 08:41:00 -0500 https://ca.proactiveinvestors.com/companies/news/213627/leanlife-health-names-jason-tong-as-new-finance-chief-213627.html
<![CDATA[News - LeanLife Health to benefit from Canada’s sweeping new food safety rules ]]> https://ca.proactiveinvestors.com/companies/news/211519/leanlife-health-to-benefit-from-canadas-sweeping-new-food-safety-rules-211519.html LeanLife Health Inc (CSE:LLP) CEO Stan Lis said Wednesday that a consolidation of Canada’s new food safety rules would “make it easier” for the company to export its omega-3 products as liquids and powders to be used as food additives to international markets.

Vancouver-based LeanLife has developed a patented process to isolate omega 3 fatty acids from flax (linen) seeds — one of the richest plant sources of this essential fatty acid.

READ: LeanLife hires food safety consultants to help ensure omega-3 products meet food safety requirements

LeenLife omega products are in the form of an oil or a powder with purity in excess of 98%. The products are sold online or as a food additive to food processors making such items as bread, noodles and milk products.

The Canadian government has announced a new, comprehensive set of rules for Canada’s food inspection standards and licensing. The new rules, called the Safe Food for Canadians Regulations (SFCR), will go into effect on January 15, 2019. The move also gives companies the option to apply for licenses online.

They will replace the 14 sets of regulations that govern the food industry currently, including Dairy Products Regulations, Egg Regulations, Meat Inspection Regulations, and so on.

Export oriented

The new regulations will align Canada’s rules with international standards.

"In general, these consolidated regulations will make it easier for LeanLife Health to export. We therefore see this as a positive development for LeanLife to get its product to the United States, Europe or elsewhere," said LeanLife Health CEO Stan Lis.

The Canadian government is hoping the SFCR will help Canadian-made foods hit international shelves. If businesses import, export or send food across provincial or territorial borders, they will require a license, which officials say will help “demonstrate that their food safety controls meet their US importers” as the US is Canada’s biggest trading partner.

“LeanLife will benefit from the consolidation of these regulations and the new application method as it prepares to export its Omega-3 flaxseed oil product across Canada and around the world,” the company said in a statement.

LeanLife said it will benefit from an exemption from the United States Foreign Supplier Verification Program. “This Program places restrictions on US food importers accept where food products are intended for further manufacturing by a US processor,” said the company.

The long-lasting shelf life of the flaxseed oil produced by LeanLife's patented method makes it an ideal fortified food ingredient.

Studies have since shown that Omega-3 fatty acids keep nerve cells functioning at optimal speed.

 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 19 Dec 2018 11:46:00 -0500 https://ca.proactiveinvestors.com/companies/news/211519/leanlife-health-to-benefit-from-canadas-sweeping-new-food-safety-rules-211519.html
<![CDATA[News - LeanLife Health continues in-house testing of its omega-3 products, reprices warrants ]]> https://ca.proactiveinvestors.com/companies/news/210592/leanlife-health-continues-in-house-testing-of-its-omega-3-products-reprices-warrants-210592.html LeanLife Health Inc (CSE:LLP) reported the results of its in-house testing of omega samples, conducted at the company’s small laboratory facility.

The company develops omega-3 products which can be formulated as liquids, emulsions or powders and used as food additives.

READ: BioTime shares pop following positive preclinical results from its HyStem drug delivery platform

Its flavorless omega product is plant-based and extracted from flaxseeds.

The study aimed to determine the totox value, which is a measure of an oil’s oxidation state and a parameter for assessing the quality of edible oils.

The lower the totox value, the better the quality of the oil.

The study determined the totox value of a 10-month-old sample representative of its BioCube machine, was 11.70.

Seven out of the nine samples contained ethanol levels from 0.5% to 2.5%, while the allowable limit in Canada is 0.5%.

The omega-3 market is expected to reach US$7.32 billion by 2020, according to a report by Grand View Research Inc.

The company also announced that it wants to reprice around 9.34 million of its warrants expiring December 15, 2018, from $0.15 each to $0.075 each, extending the expiry date to December 15, 2020.

Shares of the Vancouver-based company were up more than 11% to C$0.05 by Tuesday’s closing bell.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter: @LenoreMariee

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Wed, 05 Dec 2018 08:27:00 -0500 https://ca.proactiveinvestors.com/companies/news/210592/leanlife-health-continues-in-house-testing-of-its-omega-3-products-reprices-warrants-210592.html
<![CDATA[News - LeanLife Health hires strategic advisor ]]> https://ca.proactiveinvestors.com/companies/news/209976/leanlife-health-hires-strategic-advisor-209976.html LeanLife Health Inc (CSE:LLP) announced Monday it has brought Russ Hiebert on board as a strategic advisor.

Hiebert has significant experience in government, developing trade and corporate governance.

Hiebert was a member of Parliament in Canada for 11 years (2004-2015) and then returned to the private sector. During his time in office, he was appointed parliamentary secretary for Defense and later parliamentary secretary for Intergovernmental Affairs. He also served on the natural resources, finance and international trade committees.

READ: LeanLife closes first round of financing: raises $750,000

"Russ Hiebert brings valuable resources and substantial experience to LeanLife," said Stan Lis, chief executive officer of LeanLife Health.

"I look forward to working with the LeanLife Health team to help realize the value of extracting shelf-stable omega-3 fatty acids from flax seed -- one of the richest plant sources of this essential fatty acid. The long-lasting shelf life of the flax seed oil produced by LeanLife's patented method appears to make it an ideal fortified food ingredient," said Hiebert.

Hiebert has developed a worldwide network of contacts in business and foreign governments with the ability to connect people with key decision makers, joint venture partners and investors, for the purpose of developing trade and other business opportunities.

Contact Katie Lewis at katie@proactiveinvestors.com

Follow her on Twitter: @kelewis

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Mon, 26 Nov 2018 16:53:00 -0500 https://ca.proactiveinvestors.com/companies/news/209976/leanlife-health-hires-strategic-advisor-209976.html
<![CDATA[News - LeanLife Health management can't account for recent market activity ]]> https://ca.proactiveinvestors.com/companies/news/206995/leanlife-health-management-can-t-account-for-recent-market-activity-206995.html Nutritional additive and ingredients group LeanLife Health Inc. (CSE:LLP) said it was unaware of any reason behind the recent increase in market activity in the shares.

Volumes have increased over the last day or so and the share price is up almost 80% since last Friday (October 5). It is at $0.09 from $0.05 last week.

"At the request of the Investment Industry Regulatory Organization of Canada, LeanLife Health Inc. wishes to confirm that the company's management is unaware of any material change in the company's operations that would account for the recent increase in market activity," it said in a brief statement Friday.

The company's products are extracted from flax seeds, a source of omega 3. They can be used as a food additive or as a nutraceutical and can be incorporated into foods such as bread, noodles, cheese, yoghurt, juice and milk products.

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Fri, 12 Oct 2018 09:55:00 -0400 https://ca.proactiveinvestors.com/companies/news/206995/leanlife-health-management-can-t-account-for-recent-market-activity-206995.html
<![CDATA[News - LeanLife closes first round of financing: raises $750,000 ]]> https://ca.proactiveinvestors.com/companies/news/205922/leanlife-closes-first-round-of-financing-raises-750000-205922.html Nutritional additive and ingredients group LeanLife Health Inc. (CSE:LLP) announced Thursday it has closed its first round of funding, raising $750,000. 

The company said funds will be used for used for general working capital.

The offering consisted of 15 million units at a price of C$0.05 for total gross proceeds of $750,000. 

READ: LeanLife Health poised for production at new plant once permits are in place

Each unit will consist of one share and one transferable share purchase warrant, which is exercisable into one further share at a price of C$0.075 per share for three years from closing.

LeanLife delivers high concentration levels of omega-3 as a nutritional additive. Its products are for use in commercial food processing.

Last month, it updated on its manufacturing capability, revealing that the main equipment had been purchased and delivered to the new facility in Canada. 

The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.

Such products will include ingredients for making and/or fortifying commercial foods such as bread, noodles, juices, yogurt and cheese.

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Thu, 27 Sep 2018 17:41:00 -0400 https://ca.proactiveinvestors.com/companies/news/205922/leanlife-closes-first-round-of-financing-raises-750000-205922.html
<![CDATA[News - LeanLife Health to raise C$1mln from placing ]]> https://ca.proactiveinvestors.com/companies/news/204955/leanlife-health-to-raise-c1mln-from-placing-204955.html Nutritional additive and ingredients group LeanLife Health Inc. (CSE:LLP) is set to raise C$1mln via a private placing to be used for working capital.

It will consist of 20mln units at C$0.05 each for total gross proceeds of C$1mln.

READ: LeanLife Health poised for production at new plant once permits are in place

Each unit will consist of one share and one transferable share purchase warrant, which is exercisable into one further share at a price of C$0.075 per share for three years from closing.

The proceeds of the placing will be used for the company's general working capital.

LeanLife delivers high concentration levels of omega-3 as a nutritional additive. Its products are for use in commercial food processing.

Last month, it updated on its manufacturing capability, revealing that the main equipment had been purchased and delivered to the new facility in Canada.

It is still awaiting the approval of permits to operate, but once in place will begin production immediately.

The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.

Such products will include ingredients for making and/or fortifying commercial foods such as bread, noodles, juices, yogurt and cheese.

Shares are at C$0.055 at the time of writing.

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Fri, 14 Sep 2018 10:48:00 -0400 https://ca.proactiveinvestors.com/companies/news/204955/leanlife-health-to-raise-c1mln-from-placing-204955.html
<![CDATA[News - LeanLife Health poised for production at new plant once permits are in place ]]> https://ca.proactiveinvestors.com/companies/news/203399/leanlife-health-poised-for-production-at-new-plant-once-permits-are-in-place-203399.html LeanLife Health Inc. (CSE:LLP) updated on its manufacturing capability, revealing that main equipment had been purchased and delivered to the new facility in Canada.

It is still awaiting the approval of permits to operate, but once in place will begin production immediately.

READ: LeanLife hires food safety consultants to help ensure omega-3 products meet food safety requirements

The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.

Such products will include ingredients for making and/or fortifying commercial foods such as bread, noodles, juices, yogurt and cheese.

The firm said that previously manufacturing was by way of a batch system, which was expensive, problematic and outdated.

"The company has acquired a continuous process manufacturing system bringing efficiency, computer monitoring and control with remote consultancy quality readout," it said in Wednesday’s regulatory statement.

"Moreover, the main manufacturing unit is scalable, with features of additional units added vertically and/or adjacently.

"In this way additional production can be added in the same location or new locations in Canada or other countries in a very efficient manner. It is also possible to have a dedicated line for a single customer enabling customer features or monitoring," it added.

READ: LeanLife Health receives processing and manufacturing equipment for production facility in Vancouver

LeanLife has also begun the process of obtaining federal government certifications in Canada and the United States.

As revealed in June, it hired external consultants to help to ensure that all of its omega-3 products meet relevant food safety requirements and designations in Canada and the US.

"The company has initial orders to fill, and inventory levels must be maintained to ensure that future order levels can also be filled," it added.

The total cost for manufacturing and lab equipment including associated costs is about C$700,000.

LeanLife Health shares are at C$0.065 in Toronto - down around 7%.

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Wed, 22 Aug 2018 08:25:00 -0400 https://ca.proactiveinvestors.com/companies/news/203399/leanlife-health-poised-for-production-at-new-plant-once-permits-are-in-place-203399.html
<![CDATA[News - LeanLife hires food safety consultants to help ensure omega-3 products meet food safety requirements ]]> https://ca.proactiveinvestors.com/companies/news/199525/leanlife-hires-food-safety-consultants-to-help-ensure-omega-3-products-meet-food-safety-requirements-199525.html LeanLife Health Inc. (CSE:LLP) announced today that it has hired external consultants to help to ensure that all of its omega-3 products meet relevant food safety requirements and designations in Canada and the US. 

The company said this move is in addition to and will bolster its effort to obtain government authorization for production of omega-3 products at its Canadian manufacturing facility.

"I am pleased with the progress LeanLife has made toward obtaining the permits and approvals needed to manufacture our products as well as to meet the standards set forth by large commercial users of omega-3 ingredients," said Stan Lis, chief executive officer of LeanLife Health.

"The addition of third party consultants to this effort should enable us to obtain some of the approvals sooner, which would obviously be positive for our go-to-market strategy."

READ: LeanLife Health receives processing and manufacturing equipment for production facility in Vancouver

LeanLife continues to prepare for initial production at the 4,000 sq ft facility it leased in Vancouver, Canada earlier this year. The company's products are extracted from flax seeds, a plentiful and non-animal source of omega-3.

The plant will be responsible for the manufacture of all LeanLife's omega-3 products, including ingredients for making and/or fortifying commercial foods such as bread, noodles, juices, yogurt and cheese.

Shares of LeanLife Health were down 4.55% at C$0.11 on Monday. 

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Mon, 25 Jun 2018 12:08:00 -0400 https://ca.proactiveinvestors.com/companies/news/199525/leanlife-hires-food-safety-consultants-to-help-ensure-omega-3-products-meet-food-safety-requirements-199525.html
<![CDATA[News - LeanLife Health receives processing and manufacturing equipment for production facility in Vancouver ]]> https://ca.proactiveinvestors.com/companies/news/196360/leanlife-health-receives-processing-and-manufacturing-equipment-for-production-facility-in-vancouver-196360.html LeanLife Health Inc (CVE:LLP)  said the processing and manufacturing equipment to make its omega-3 products has been delivered to its production facility in Vancouver, B.C.

In a statement, the company said the equipment delivered will be used to convert raw flaxseed oil into oils with qualities unavailable from standard flaxseed ingredients.

READ: LeanLife Health hails US$10mln RD Heritage order

Further processing by LeanLife will convert some of the oils into emulsions and powders.

All the products are designed for use in making and/or fortifying a wide variety of commercial foods, including bread, noodles, yogurt and cheese.

The company leased a 4,000 sq. ft. facility in Vancouver earlier this year.

It plans to continue to add services and leasehold improvements to enable the commissioning and start-up of the equipment.

It has also set up a temporary laboratory in the Vancouver area where testing is ongoing prior to initialising production.

"We are very pleased to have a full suite of equipment on-site and look forward to initial Omega 3 oil test production in the near future," said Stan Lis, its chief executive officer.

"Preparation for operating the production facility is progressing smoothly and we are excited about our next steps, which include commercial permitting and obtaining food industry certifications for our product line."

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Thu, 03 May 2018 09:54:00 -0400 https://ca.proactiveinvestors.com/companies/news/196360/leanlife-health-receives-processing-and-manufacturing-equipment-for-production-facility-in-vancouver-196360.html