TSXV Trading Symbol: VPI
VANCOUVER, BC, July 19,
2022 /CNW/ - Vitality Products Inc. (TSXV: VPI) (the
"Company" or "Vitality) held its annual and special general meeting
of shareholders ("AGM") on July 19,
2022. The Board of Directors is pleased to announce that all
resolutions put to vote at the AGM passed with a 99.97% or higher
approval from the votes cast. Audra J.
Davies was elected to the Board of Directors for the first
time and Richard V. Gannon,
Cheryl A. Grant (President &
CEO), W. Douglas Grant (Vice
President & CFO), Stuart E.
Pennington and Joanne F. Q.
Yan were re-elected to the Board.
The Company is also pleased to achieve 50% representation of
female leaders on the Board of Directors. As a female-led, and
female-focused customer base, it has been a goal of Vitality to
build a balanced Board of Directors.
SHAREHOLDERS ELECT AUDRA J. DAVIES TO THE BOARD OF
DIRECTORS
Audra Davies is a global
executive with 30 years of proven success in the natural products
industry delivering innovative consumer products and leading
research and development.
In her most recent role with Amway Corporation, Audra was the
Global Head of Nutrition where she developed and transformed
strategic plans into growth plans that enabled market expansion,
science-based consumer products, innovative approaches to customer
acquisition and operational excellence. During her tenure
with Amway, she was instrumental in growing the
NUTRILITETM brand to $4B
while overseeing operations for a 600-person nutrition
manufacturing facility in California.
Audra is a published author, speaker, holder of multiple
patents, and industry panelist. She is an active member of
the Board of Directors for the non-profit, People for a Healthy
Community and previously held Board seats with the non-profit,
Giving Children Hope and the industry association board, American
Cleaning Institute.
Cheryl Grant, President & CEO
of Vitality Product Inc. states "the Board is excited to have
Audra Davies join the Board of
Directors of Vitality. It was clear from our first discussion
Audra is a strategic thinker with a strong operational mindset for
success. Her career in natural health and success at Amway will
support the Executive Team in the future growth of Vitality and we
are very pleased to have her join the Board."
VITALITY GRANTS 570,000 INCENTIVE STOCK OPTIONS
Vitality Products Inc. announces that, pursuant to its stock
option plan, the Company has granted incentive stock options to
directors, officers, employees and consultants which will entitle
the option holders to purchase up to 570,000 common shares of the
Company at a price of $0.10 per share
for a period of five years. These options are not subject to
any vesting schedule and may be exercised at any time up to the
expiry date of July 19, 2027. These
options are subject to a four-month hold period commencing
July 19, 2022. Shareholders
ratified and approved, subject to regulatory approval, the
continuance of the Company's 10% rolling stock option plan at the
Company's AGM held on July 19,
2022.
About Vitality
Visit our Investor site: investinvitality.com
VITALITY® is an award-winning line of clean vitamins and
supplements, marketed to natural health retailers and health and
wellness conscious consumers. Manufactured locally in BC,
Canada and currently sold in 600
natural health stores and online, the products are non-GMO and
third party tested. Following the proven success of the line
through repeat orders and same store sales growth, the Company is
focused on expanding distribution and growing sales in-store and
online; evaluating, researching and developing new products for
future distribution; and exploring new markets for its
products. To view our products, visit: www.vitality.ca.
On behalf of the Board of
VITALITY PRODUCTS INC.
"Cheryl A. Grant"
(signed)
__________________________________
Cheryl A. Grant, President &
CEO
Forward-Looking Information
Information set forth in this news release involves
forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this
context, forward-looking statements often address a company's
expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors
include, among others, the following risks: risks associated with
marketing and sale of securities; the need for additional
financing; reliance on key personnel; the potential for conflicts
of interest among certain officers or directors with certain other
projects; and the volatility of common share price and
volume. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and except as required by law, the Company
undertakes no obligation to update forward-looking statements if
these beliefs, estimates and opinions or other circumstances should
change. Investors are cautioned against attributing undue
certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
SECURITIES LEGISLATION.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Vitality Products Inc.