LeanLife Health has entered into a sales agreement with RD Heritage Group, LLC
OREANDA-NEWS. January 26, 2018. LeanLife Health Inc. (the “Company”) (CSE:LLP) is pleased to announce that it has entered into a sales agreement with RD Heritage Group, LLC (“RD Heritage”) whereby RD Heritage has agreed to market and sell the Company’s industry leading Omega 3 products derived from flax seeds.
Under the terms of the agreement, RD Heritage will market and sell the Company’s Omega 3 products and assist with developing marketing strategies, carry out market analysis to define a global sales strategy, support product commercialization with a focus on sales and development, and appoint distributors to increase sales opportunities.
In consideration of RD Heritage’s services, the Company has agreed to: (i) issue to RD Heritage a total of 800,000 share purchase warrants with an exercise price of $0.40 per share, which will carry a cashless feature, and expire on a date that is two years from the date of issue, and (ii) pay a royalty to RD Heritage equal to 10% of all sales generated by them under the Sales Agreement.
If RD Heritage generates total sales of $10 million (USD), the Company will (i) issue RD Heritage a total of 1,000,000 common shares of the Company, and (ii) grant RD Heritage an exclusive license on the Company’s technology to produce its products for Indonesia, Middle East / North Africa and India. Terms of such license will be negotiated by the Company and RD Heritage at a later date.
The Company anticipates that it will receive its first purchase order within the next 30 days.
About LeanLife Health and the Omega 3 Market
LeanLife Health’s products are extracted from flax seeds, a plentiful and non-animal source of Omega 3. The products can be used as a food additive or as a nutraceutical and have been used to make bread, noodles, cheese, yogurt, juice and milk products for the European market. LeanLife Health’s industry leading Omega 3 product formulations are of the highest quality and contain no cholesterol. Products are available in oil, emulsion and powder forms.