NeutriSci Announces US$7 Million South African Distribution Agreement with B-Well Medical for NeuEnergy™
April 15, 2015
Vancouver, BC – NeutriSci International Inc. (TSX-V:NU) (the “Company” or “NeutriSci”) is pleased to announce that it has entered into a five year exclusive distribution agreement valued at US$7 million with B-Well Medical Supplies (Pty) Ltd. (“B-Well”), South Africa.
- US$7 million minimum purchase levels to maintain exclusive rights to distribute NeuEnergy™ in South Africa
- US$1 million minimum purchase level for 2015/2016
- In addition to margin on sales to B-Well, NeutriSci earns 8% royalty on all sales in South Africa
Under the terms of the agreement, B-Well has been granted the exclusive South African marketing and distribution rights for NeutriSci’s recently launched product NeuEnergy™. In order to maintain exclusivity, B-Well must purchase US$7 million of NeuEnergy™ from NeutriSci over the next 5 years, including a minimum of US$1 million in 2015/2016. In addition to our margin on sales to B-Well, NeutriSci also earns an 8% royalty on all NeuEnergy™ sales generated in South Africa.
B-Well specializes in developing, manufacturing and distributing break-through medical and complimentary health products based in South Africa. B-Well distributes its product lines across Africa in specialty retailers, pharmacies, grocery stores and wholesale distributors.
Nick Efstathiou, CEO of B-Well stated, “The size of the market for NeuEnergy in South Africa is staggering. We have been looking for novel and ground breaking international products to bring into the local market and we believe NeuEnergy is that type of product. NeuEnergy represents a disruptive change from the over caffeinated energy products offered in the market today. We are a dedicated health and wellness distribution and manufacturing company and NeuEnergy represents our corporate ideals. We view this agreement as an incredible opportunity for B-Well; to be among the first to offer NeuEnergy outside of North America.”
Glen Rehman, President of NeutriSci, stated: “We are excited to add our first of many international distribution deals. B-Well has an excellent reach and a solid track record in South Africa, and represents a strong partner in this very unique market. This exclusive distribution agreement will help set the stage for many other distribution opportunities to follow.”
NeuEnergy™ is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with less caffeine, no sugar, no calories and no crash associated with typical energy products. Visit GetNeuEnergy for more information and to order the smart alternative to other energy products.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
NeutriSci International Inc.
Tel: (403) 264-6320
Investor Relations Contact:
KIN Communications Inc.
Fred Leigh, VP Investor Relations
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production and formulation of nutraceutical products. Established in 2009, NeutriSci has focused on the development of several breakthrough nutraceutical products with an initial focus on areas such as heart and cholesterol health, sleep deprivation therapies, immune defense as well as men’s prostate and sexual health. NeutriSci continues to build strong relationships and distribution channels for its BluScience™ and NeuEnergy™ products with retailers throughout the United States. NeutriSci is focusing efforts in strengthening sustainable sales models with Convenience, Chain Drug, Mass Market and Supermarket retailers. For more information, visit: www.neutrisci.com.
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