LeanLife Health Inc. Announces Appointment to Board of Directors and Settlement of Debt



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Vancouver, British Columbia–(Newsfile Corp. – March 25, 2022) – LeanLife Health Inc. (CSE: LLP) (ESF: LL1) (the “Company” Where “LeanLife“), CEO of Lean Life Health, Anis Barakat, is delighted to announce the appointment of Mr. Robert Hall, effective immediately, as a strategic member of the Board of Directors to add to the team bringing Iron beverages Energy endorsed by Mike Tyson to the soft drink market across Canada and the United States.

Mr. Hall replaces Robert Chanson who resigned from the Board of Directors as of the date of this press release. Mr. Hall will provide the company with a more local presence and bring over 20 years of management experience to LeanLife. He has already raised significant seed funding and provided working capital to develop large-scale projects through his extensive network of business associates.

In addition to holding and executing a variety of leadership positions focused on operations, corporate finance, marketing and sales, Mr. Hall has consulted with public and private companies across many industries and will use his entrepreneurial skills , his experience and leadership in capital markets on our behalf.

Mr. Hall will join a team of experienced professionals already recruited across LeanLife’s marketing, logistics and distribution channels to bring together the planned e-commerce website and Amazon sales pages.

Fulfillment centers in Eastern Canada and the Eastern United States, as well as Las Vegas in the Western United States, are nearing completion and will support Amazon and online orders as well than retail distribution within internal networks. These preparations will perfectly position Iron Energy Drinks for the summer season, with direct-to-consumer online sales in most of Canada and the United States.

Mr. Barakat said, “Our dedicated e-commerce website is nearing completion and our customers will soon be able to order online and receive products right at their doorstep with free shipping. Our Amazon sales will also be going live soon. He added: “I am very pleased to work with Robert Hall to bring our vision together in a cohesive way. As a member of the strategic board of directors, I consider his contribution and this partnership to be extremely beneficial for the growth and expansion of the company.

LeanLife Health’s Chief Financial Officer, Daniel Cruz, said, “I look forward to working with Robert on the financial side of the business and achieving profitability as soon as possible. Our range of skills and experiences complement each other perfectly to lead the company through its early stages of growth.”

Mr. Barakat also commented on the company’s working relationship with Mike Tyson, the former world heavyweight champion boxer, and his public networks: “Iron Energy Drink will be one of the branding projects that LeanLife will be working on. directly with Mike Tyson. Given how active he is in promoting his other projects and businesses, I believe he will bring his unique style and energy to our products and we are excited to work with him.”

Debt settlement

The Company further announces that it has settled a total debt of $1,223,514 to certain creditors of the Company by issuing 17,478,774 common shares in the capital of the Company (the “Common Shares”) at a price of 0 $.07 per common share. (the “Debt Settlement”). The common shares issued pursuant to the debt settlement are subject to a four-month hold period and the completion of the transaction remains subject to final acceptance by the Canadian Securities Exchange.

The debt settlement constituted a “related party transaction” as defined in National Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“), as certain insiders of the Company received a total of 3,785,000 common shares. ) and 5.7(1)(a) of NI 61-101, as the fair market value of the insider debt settlement participation does not exceed 25% of the market capitalization of the Company, as determined in accordance with NI 61-101 The Company did not file a material change report regarding the related party transaction at least 21 days prior to the closing of the debt settlement, which the Company believes is reasonable.

About LeanLife Health Inc.

LeanLife Health Inc. was born out of a desire to provide the world with high quality omega3 vegetable oils. Over 50 years of evidence supports the many health benefits of omega 3 alpha-linolenic acid from flaxseed. LeanLife Health has recognized that over 50% of North Americans don’t get enough omega 3 fatty acids and eat far too many omega 6 fatty acids.

Our Omega 3 flaxseed formulation is stable for 2 years, which will allow more food companies to add the oil to their products and more consumers to meet their nutritional needs. Patented methods originally developed at a Polish university in 2007 have been continually refined to result in the most nutritionally stable omega-3 vegetable oils on the market today.

New initiatives have pushed our team to integrate more products to diversify our offerings and enrich shareholder value. We are excited to roll out Mike Tyson-endorsed Iron Energy Drinks to the US soft drink market by mid-2021. LeanLife Health Inc. is confident that this strategy will propel us forward with positive gains for the foreseeable future.

We’ve hired a team with global expertise in omega-3 science and production, energy drink sales and direct-to-consumer marketing. Our professionals work to ensure that our Omega-3 Flax Seed Oil is the healthiest, most stable, and most convenient available today. Additionally, our team is working diligently to launch Amazon and convenience store sales of Iron Energy Drinks (endorsed by Mike Tyson) across the United States.

For more information visit our website at https://www.leanlifehealth.com/.

or contact:

Anis Barakat, CEO
(416) 669-4303
[email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.

Caution Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” and certain “forward-looking information” as defined by applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “sure”. “anticipates”, “believes”, “continues”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements regarding expected profitability and sales, product expansion, or potential Amazon orders.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118200

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