- Stuart Lowther exits executive role and board position to address personal matters
BURLINGTON, ON, Sept. 26, 2023 /CNW/ – Element Nutritional Sciences Inc. (CSE: ELMT) (OTC: ELNSF) (FRANKFURT: 93X) (the "Company" or "Element"), today named veteran health and fitness executive Vito Sanzone as Chief Executive Officer, replacing founder Stuart Lowther who resigned as both Chief Executive Officer and Chairman of the Board to address personal matters. The change is effective immediately.
Mr. Sanzone previously served Element as Chief Marketing Officer and has helped drive the creation of Element’s new product portfolio. He has been part of over US$1 billion in mergers and acquisitions in the health and active nutrition industry since 2016.
Prior to Element, Mr. Sanzone was Chief Executive Officer of private equity-backed Complete Nutrition, Inc, a chain of franchised sports and nutrition stores based in Omaha, Nebraska, where he spearheaded the transition to a major digital presence. As President of Maximum Human Performance, a legacy sports nutrition brand headquartered in the New York City area, he repositioned the brand for sale in 2017. He also served as a key executive of Iovate Health Sciences in Oakville, Ontario from 2007 to 2016.
"I am committed to driving Element’s muscle health brands to prominence. Our team recently met with more than 30 major North American retailers who sampled our new RejuvenateTM products. We are focussed on putting our products in the hands of more consumers than ever. We want to thank Stuart for his vision and wish him the best," said Mr. Sanzone.
Additionally, Dean Mosca will be joining Element’s Board of Directors. Mr. Mosca was the founder and President of Proprietary Nutritionals Inc., a global supplier of premium and patented nutritional supplement ingredients, which was sold to Pharmachem Laboratories. Mr. Mosca, a life-long entrepreneur in the nutritional category, offers strategic support to companies with disruptive products and technologies. He is currently on the board of directors of the Centre for Minimal Access Surgery and Natural Products Canada, and Chairs the board of Insight Medbotics.
Following his resignation, Mr. Lowther’s 24 million performance warrants have been cancelled.
Element is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically muscle health. Element’s lead product, Rejuvenate™, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Element also offers PROMINOTM, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Element was founded in 2015 and is located in Burlington, Ontario.
To learn more about Element, visit elmtinc.com.
More information about Rejuvenate™ can be found www.rejuvenatemuscle.com.
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; expectations regarding the size of the United States and Canadian health, nutraceutical and wellness markets and changing consumer habits; the viability of the Company’s products; availability of distribution channels for the Company’s product offerings; the ability of the Company to successfully achieve its business objectives; plans for expansion; successful development of the Company’s proposed products; the presence of laws and regulations that may impose restrictions or recalls on the sale of the Company’s products in the United States and Canada; customer and distributor relations; fluctuations in securities markets; and the inability of the Company to obtain adequate insurance to cover risks and hazards. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Element Nutritional Sciences Inc.
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