Poda Lifestyle and Wellness Ltd.
Poda Receives Purchase Order for 500,000 Beyond Burn(TM) Poda Pods
Vancouver, Bc (ots/PRNewswire)
PODA LIFESTYLE AND WELLNESS LTD. ("Poda" or the "Company") (CSE: PODA) (FSE: 99L) (OTC: PODAF) is pleased to announce that it has received an order for 500,000 Beyond Burn(TM) Poda Pods (the "Purchase Order").
The customer is currently finalizing the packaging designs and equipment, and it is anticipated that the inventory will be used for initial launches of the Poda products into the European market in Q4 2021. In conjunction with the Purchase Order, 2,000 units of Poda's flagship Beyond Burn(TM) Heating Devices have also been ordered.
Mr. Ryan Selby, CEO, commented, "The Poda team has spent the last six years developing what I believe is the best heat-not-burn product ever made, and we are now rapidly moving forward with the global commercialization of our products. This Purchase Order represents the first large sale of Poda's Beyond Burn(TM) products and is a tremendous milestone for us. The 500,000 Beyond Burn(TM) Poda Pods for this Purchase Order have already been produced using our pilot production facility and will be delivered to the customer in the coming weeks. We currently have the capacity to produce up to 400,000 Beyond Burn(TM) Poda Pods per month, giving us the ability to supply products to the customer on an ongoing basis. Importantly, we are currently making significant investments towards major increases in our production capacities, and we look forward to greatly increased sales volumes of our products as our large-scale production capacities (anticipated to initially be capable of producing over 10,000,000 Beyond Burn(TM) Poda Pods per month) are brought online in the coming months. Based on demand, these capacity increases should allow Poda to generate substantial revenues from the global sales of our innovative and proprietary products."
On Behalf of the Board, Ryan Selby CEO, Director, and Chairman of the Board
Poda Lifestyle and Wellness Ltd. Toll-free North America: +1-833-TRY-PODA (879-7632) Outside North America: +1-406-TRY-PODA (879-7632) investors@podalifestyle.com www.podalifestyle.com
ABOUT PODA LIFESTYLE
Poda Lifestyle is actively engaged in the global commercialization of heat-not-burn ("HNB") smoking products, which have the potential to reduce the risks associated with combustible smoking products. The Company has developed a patented HNB system that uses proprietary biodegradable single-use pods, which are both consumer and environmentally friendly. The innovative design of the Company's HNB platform prevents cross-contamination between the heating devices and the pods, eliminating all cleaning requirements and providing users with the most convenient and enjoyable potentially-reduced-risk smoking experience. Poda Lifestyle's HNB system is fully patented in Canada and is patent pending in over 60 additional countries, covering almost 70% of the global population. The Company's Poda Pods are the first and only cigarettes to have a completely closed end. This exclusive design eliminates all cleaning requirements and provides a truly ashless HNB cigarette. Poda Lifestyle's fully patented system is one of a kind and solves the major pain-point that ALL other HNB products suffer from: daily cleaning requirements. The Company's flagship Beyond Burn(TM) Poda Pods contain a unique tobacco-free blend of pelletized tea leaves infused with synthetic nicotine, which provides adult smokers with a smoke-free alternative to their regular habit without sacrificing satisfaction. Beyond Burn(TM) Poda Pods have been expertly crafted to mimic the sensorial experience of traditional cigarettes without the smoke, without the smell, and without the tobacco.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although Poda Lifestyle believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Poda Lifestyle can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. Poda Lifestyle undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Poda Lifestyle, its securities, or financial or operating results (as applicable). Poda Lifestyle disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.