Appointment of New Chief Financial Officer
VANCOUVER, BC, May 27, 2021 /CNW/ - NEXE Innovations Inc. ("NEXE" or the "Company") (TSXV: NEXE) (OTC Markets: NEXNF) (Frankfurt: NX5), is pleased to announce that the Company has signed a commercial relationship with Vejii Holdings Ltd. ("Vejii"), with the intent to sell NEXE's XOMA Superfoods line on Vejii's e-commerce marketplace, https://shopvejii.com/brand/xoma/ in the U.S.
Xoma Superfoods is NEXE's in-house superfoods brand featuring NEXE's single-serve, fully compostable, plant-based beverage pods, compatible with Keurig's single-serve brewing systems.
Vejii operates the largest online vegan marketplace in the U.S. and provides its customers with access to thousands of vegan and plant-based products in one place.
"NEXE is proud to announce that our flagship XOMA Superfoods line will soon be available on Vejii's marketplace," said Darren Footz, CEO of NEXE. "Partnering with Vejii is an exciting milestone for NEXE as we expand our distribution network for our popular XOMA product line. Vejii is an excellent fit for XOMA because it attracts consumers who are seeking convenient, health conscious, plant-based alternatives."
NEXE plans to continue to expand its direct-to-consumer sales efforts from its own ecommerce website, while also continuing to partner with select online marketplaces that specialize in plant-based consumer packaged goods.
Launched in late 2020, Vejii's marketplace offers over 3,000 SKUs from over 500 artisanal and national brands of often hard-to-find plant-based products. Its target audience are flexitarian consumers who may still eat meat but are looking for plant-based alternatives. Vejii's recent acquisition of Vegan Essentials, in addition to its own ShopVejii.com platform, should provide for a strong platform of vendors while leveraging distribution, marketing channels and brand ambassador partnerships, as well as vast consumer insights that have been built through Vegan Essentials' leadership position in the U.S.
Additionally, NEXE announces that Mr. Raj Kang has stepped down as Chief Financial Officer of the Company having completed the transition of NEXE from a private organization to a publicly-listed corporation during his tenure to focus on other projects. The Company is pleased to announce the appointment of Mr. Ed Duda as the new Chief Financial Officer of the Company.
Mr. Duda has over 30 years of public and private company experience in a wide range of finance and business functions within various industries, holding a number of senior positions, is managing director of Delmac Pacific Management Inc., a private company specializing in financial reporting, risk management, regulatory compliance, junior company development and corporate governance. Mr. Duda holds a BBA from Simon Fraser University and a CPA, CMA designation from the Chartered Professional Accountants of British Columbia. In addition, he holds several certifications from the Canadian Securities Institute. Mr. Duda has extensive board and executive committee experience and currently sits on the board of several public and private organizations in addition to being an advisory board member.
Darren Footz, CEO commented, "On behalf of the Board of Directors and the entire organization, I want to thank Mr. Kang for his exceptional leadership, dedication to NEXE and wish him well in his future endeavours. We are pleased to welcome Mr. Duda aboard the Nexe Innovations team. His diverse background in finance, business development, capital markets and technology utilization will undoubtedly play a key factor in our future growth."
Headquartered in Kelowna B.C. and operating its online marketplace ShopVejii.com in the U.S., through its wholly-owned subsidiary Vejii Inc., Vejii Holdings Ltd. is focused on providing its customers with easy access to thousands of vegan and plant-based products in one place. Vejii leverages technology integrations like smart lists, reorders features, subscription programs, AI, and is always looking for new and innovative ways to enhance the customer experience.
About XOMA Superfoods
XOMA Operations Inc. is a wholly-owned subsidiary of NEXE Innovations Inc. XOMA Superfoods produces and distributes high-quality coffee and superfood creamers packaged exclusively in single-serve, fully compostable, plant-based pods.
NEXE Innovations Inc. is a leader in plant-based compostable technology and advanced materials manufacturing based in British Columbia, Canada. The company has developed one of the only patented, fully compostable, plant-based, single-serve coffee pods for use in leading single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods, over 40 billion are discarded every year. With over $64M raised to date from equity and government funding and over five years of R&D, NEXE is well-positioned to meet the growing demand for environmentally friendly and sustainable products in the single-serve coffee sector and beyond.
ON BEHALF OF THE BOARD OF DIRECTORS
NEXE INNOVATIONS INC.
s/ "Darren Footz"
Darren Footz, Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include the proposed use of proceeds, commercialization of the NEXE Pods, including the NEXE Nespresso Compatible Pod, increase production capacity, demand and/or sales of its products, create other environmentally friendly compostable packaging opportunities, development of technologies, the potential of the Company's technology, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, consumer demand for and sentiment towards the Company's products, security threats, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, litigation, increase in operating costs, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, competition, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.