Elevai Labs Highlights Global Distribution Partnership Overview: Contracts May Secure $4.9M Top Line Revenue Commitments
April 29 2024 - 8:45AM
ELEVAI Labs Inc. (NASDAQ: ELAB) (“Elevai” or the
“Company”), a medical aesthetic company specializing in
physician-dispensed skincare, announces significant strides in
global distribution and highlights an overview of current
agreements.
Elevai is excited to highlight five of its international
distribution agreements which signifies significant strides in
expanding our global presence. Our partnerships underscore a robust
endorsement of our innovative skincare solutions and commitment to
reaching diverse markets. Each agreement is tailored to leverage
unique regional strengths, so that our cosmetic products meet a
wide array of consumer needs and preferences worldwide.
Under these distribution agreements, our distribution partners
will spearhead marketing efforts and establish dedicated sales
forces, so that Elevai's products may effectively reach new
markets. Furthermore, our distribution partners are charged with
undertaking our product registration in their respective markets in
order to facilitate seamless market entry and compliance.
Our five international distribution agreements secured by Elevai
have a contracted cumulative minimum purchase requirement
commitment of up to $4.9 million over the next five years. The
substantial commitments of the distribution partners under these
distribution agreements underscores the potential strength of our
expanding global network.
Our distribution agreements support Elevai's commitment to
delivering exceptional value to shareholders while establishing
itself as a leader in the medical aesthetic industry. Investors and
stakeholders can access detailed information about these
developments, including previously filed news releases, on the
company's website at ElevaiLabs.com/news.
Elevai also announces that it is actively negotiating five new
distribution agreements, covering both international and domestic
markets. These expected partnerships are projected to contribute an
impressive $7.7 million in top-line sales over the next five years,
which may further cement our position as an industry frontrunner.
Management notes that these agreements are currently under
negotiation and are not finalized, and there can be no assurance
that they will be completed as proposed or at all, or that if
completed that they will have a positive impact on Elevai’s
business, revenues or profits.
Chris Kraneiss, Chief Commercial Officer of Elevai Labs Inc.
expressed enthusiasm about the Company's ongoing
achievements:
"Our establishment of a global footprint marks a significant
milestone in our journey. This continued expansion into
international markets is driven by strong partnerships and our
unwavering commitment to excellence. While our forecasts are
conservative, reflecting the challenges of entering new
territories, our experience suggests that growth tends to
accelerate in subsequent years. We're excited about the
opportunities ahead and eager to introduce our innovative skincare
solutions to customers worldwide."
Kraneiss further emphasized the strategic importance of
entering international markets:
"The prospect of entering the additional international
markets in the foreseeable future represents a strategic move that
we anticipate will have a profound impact on our revenue stream.
This forecast underscores our confidence in the demand for our
products and the effectiveness of our market approach. We're
committed to delivering exceptional skincare solutions to new
customers outside the United States, and we're confident that our
rapid growth will position us as a leading brand in these
regions."
Elevai remains dedicated to empowering physicians and
enhancing customer outcomes through innovative skincare
solutions. With a steadfast commitment to innovation and
collaboration, the Company looks forward to continued growth and
success in the global market.
About ELEVAI LabsELEVAI Labs Inc. (NASDAQ:
ELAB) is a medical aesthetics company developing cutting-edge
physician-dispensed skin care applications. The Company solves
unmet needs in the medical aesthetics space through a combination
of cutting-edge science-driven and next-generation consumer
applications. Elevai develops topical aesthetic skin care cosmetic
products for the physician-dispensed market, with a focus on
leveraging a proprietary stem cell exosome technology. For more
information visit www.elevaiskincare.com.
Forward-Looking StatementsThis communication
contains "forward-looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all
statements that are not historical facts. Such statements may be,
but need not be, identified by words such as "may," "believe,"
"anticipate," "could," "should," "intend," "plan," "will,"
"aim(s)," "can," "would," "expect(s)," "estimate(s)," "project(s),"
"forecast(s)," "positioned," "approximately," "potential," "goal,"
"strategy," "outlook" and similar expressions. Examples of
forward-looking statements include, among other things, statements
regarding assembly and distribution capabilities, decentralized
production, and fully digitalized autonomous driving solutions. All
such forward-looking statements are based on management's current
beliefs, expectations and assumptions, and are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from the results expressed or implied in this
communication. For additional risks and uncertainties that could
impact Elevai’s forward-looking statements, please see disclosures
contained in Elevai 's public filings with the SEC, including the
"Risk Factors" in Elevai 's Annual Report on Form 10-K filed with
the Securities and Exchange Commission on March 29, 2024 and which
may be viewed at www.sec.gov.
Media & Product Contact:Brenda Buechler,
CMOcontact@elevailabs.com
Investor Relations Contact:Tyler Troup,
Circadian Group IRIR@elevailabs.com
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