Rritual Superfoods Chief Innovation Officer Establishes Innovation Division
May 5, 2021 (Source) — Recently Appointed, Stacey Gillespie, Advances R&D Practices and Fuels Rritual’s Functional Superfoods Product Pipeline for National Rollout
Rritual Superfoods Inc. (“Rritual” or the “Company”) (CSE: RSF) (FSE: 0RW) is excited to announce that recently appointed Chief Innovation Officer, Stacey Gillespie, has launched the Company’s Research and Development division, establishing best practices toward the development of a category leading product pipeline.
“Stacey’s expertise and depth of knowledge has made an immediate impact, resulting in the establishment of an approach to product development based on best practices and the spirit of innovation for our customers,” said Mr. David Kerbel, Rritual CEO. “As a result, Rritual is now armed with an innovative and highly responsive product development program designed to capitalize on emerging product categories to satisfy consumer demand for products incorporating ‘Superfood’ ingredients.”
As Rritual aims to define the functional superfoods sector, the Company has put in place the leadership and expertise to create organizational knowledge for the long term in its approach to product development in serving the end consumer. “Rritual has embraced the concept of being a consumer centred enterprise, and as it relates to product development that means we begin with an understanding of consumer desires and industry trends from our research and relationships, and we design and commercialize our products to meet those desires and trends on a timely basis,” said Stacey Gillespie, Rritual Chief Innovation Officer.
Rritual now deploys a process for product development that blends best practices with agility to identify categories with high growth potential, including its flagship mushrooms and adaptogens product line, and innovative products such as the following from the Company’s Product Pipeline for Q2/Q3:
- Vegan Chai Rose Latte Collagen Booster: Collagen-Booster Rose Chai Latte Powder made with tremella, reishi, aloe vera and other beautifying superfoods in a skin-hydrating & vegan cream base.
- Mood & Energy Ube Matcha Latte Powder: Made with Cordyceps, lion’s mane, matcha & purple/blue hue super foods (ube purple sweet pea powder, purple pea flower, blue spirulina) broad-spectrum of prebiotic superfoods of purple sweet potato powder, lucuma, and inulin which combined support a healthy microbiome so you can trust your gut again.
- Superfood Vegan Creamer: Made with vegan cream base and proprietary immune-synergy blend with key adaptogenic botanicals.
- Ready to Drink Beverages: Powered by adaptogenic botanicals and enhanced with organic exotic superfruits and prebiotic fibers to support a healthy microbiome which in turn helps support a healthy immune system, digestive function, and a positive outlook. These beverages will provide clean and pure refreshment to replenish the body and mind.
This new line of innovative products will tap into the developing and recently announced distribution agreements that will be carrying Rritual’s full flagship product line. As a result, these new products will have exposure to major wellness retailers and sales platforms including CrossMark.
Functional foods and “Superfoods” are foods that offer maximum nutritional benefits and are packed with vitamins, minerals, and antioxidants. They can possess unique properties that boost immunity, improve brain function, and more. “As an emerging category, consumer interest for Superfoods is building rapidly, and Rritual in embracing a consumer centric model is cognizant of the opportunity that exists to educate consumers in addition to providing them with a line of products that are differentiated, efficacious and most importantly taste good,” added Stacey.
Rritual product offerings are all USDA-certified organic and are a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual’s proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.
Rritual is a functional superfood company that creates plant-based elixirs, which support immunity, focus and relaxation. The company is poised to dominate a segment where demand and sales are growing exponentially. Under the executive leadership with over 100 years of CPG pedigree, Rritual is launching in North America in Q2 2021 as the company positions itself as a leader in the functional health and wellness industry. Rritual’s superfood elixirs can be found online at www.rritual.com.
Functional Foods Market
According to Grandview Research*, it is estimated that the global functional food market is projected to reach $275 billion by 2025, growing at 7.9% each year with consumers putting more emphasis on health and wellness.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to Rritual’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the Company’s plans to leverage third party manufacturing and logistics, the Company’s broader retail distribution plans and the Company’s other plans, focus and objectives.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rritual’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors set forth under “Forward-Looking Statements” and “Risk Factors” in the final long form prospectus of the Company dated February 26, 2021 and available under the Company’s profile on SEDAR at www.sedar.com. Rritual undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rritual to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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