Mr. Berk was Co-CEO of the first patented food delivery system, OSMIO, which was later acquired by Seamlessweb and subsequently sold to GrubHub
BURLINGTON, ON, Oct. 11, 2023 /CNW/ – Element Nutritional Sciences Inc. (CSE: ELMT) (OTC: ELNSF) (FRANKFURT: 93X) (the “Company” or “Element”), today announced the appointment of Adam Berk as an independent Advisor to aid the Company to accelerate commercialization of its Rejuvenate™ and PROMINO ™ brands.
Most recently, Mr. Berk was President of a renowned nutraceutical and vitamin company where he aided in acquisitions and helped grow the brand. Mr. Berk’s most notable experience also includes over five years as Chairman and CEO of Stem Holdings, Inc. (CSE: STEM; OTCQX: STMH), three years as CEO of HYD for Men, one of the first niche mass market men’s grooming companies which was acquired by private equity, and Co-CEO of Osmio, LLC. Osmio was the first patented food ordering delivery system and a global provider of internet solutions for companies to facilitate the ordering of meals, catering and other services. Osmio was acquired by SeamlessWeb which was subsequently sold to GrubHub (NASDAQ: GRUB) in 2013.
“Adam has strong credentials growing consumer brands in the North American retail channel, making him a great addition to the Element team. We are determined to boost our brand’s presence across North America and, approaching our organization with a fresh lens, Adam is well positioned to drive us towards operational excellence. As an independent advisor and experienced entrepreneur, Adam joins us ready to help accelerate our growth trajectory and unlock shareholder value,” said Vito Sanzone, Chief Executive Officer of Element.
Pursuant to his agreement with the Company, and subject to any required approvals of the Canadian Securities Exchange, Mr. Berk will receive initial compensation of 500,000 common shares of Element, and subsequently 350,000 common shares of Element vesting on each of December 31, 2023 and March 1, 2024, and 300,000 common shares of Element vesting on June 30, 2024.
Element is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically muscle health. Element’s lead product, Rejuvenate™, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Element also offers PROMINOTM, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Element was founded in 2015 and is located in Burlington, Ontario.
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company’s products; availability of distribution channels for the Company’s product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company’s proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company’s products in the United States and Canada; customer and distributor relations; fluctuations in securities markets; and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.