GenTech Launches First New
Sinfit Product Line, Anticipates $1.5M Sales Boost from New Product
Launches
NEW YORK, NY
-- June
16, 2020 -- InvestorsHub NewsWire --
GenTech Holdings, Inc. (OTC PINK:
GTEH) ("GenTech" or the "Company"), an
emerging leader in the high-end Premium Subscription
Coffee and
Functional Foods marketplace,
is
excited to
announce that the Company is commencing
the roll-out of a series of new products related to its
recent acquisition of the assets of
Sinister Labs,
LLC, primarily its popular Sinfit Nutrition
brand (Sinfitnutrition.com) ("Sinfit"), a top-5 functional food
brand currently sold in over 2,500 GNC locations in North America
and over 10,000 global physical and e-commerce stores across more
than 10 countries around the world.
All R&D investment
had
already been
completed for these new products, and manufacturing relationships
were already established, but the launch process
had been put on
hold during the acquisition. Now that the acquisition has
closed, GenTech is ready to commence distribution and sales
activity for
these new products.
The first new product launch
is a
new line of Sinfit
Nutrition Pancakes.
"Now that we have closed the
transaction, we are ramping the first phase of our strategic plan,
which is centered around maximizing sales through
Sinfit's
established
distribution footprint," remarked David Lovatt, CEO of GenTech.
"That process is based on sales outreach and vertical expansion
within each end-market access point. The fixed cost investments for
these products have already been made. We simply have to capitalize
on that value creation. The Sinfit Nutrition Buttermilk
Blaze pancakes are a perfect way to launch
that process."
Management notes that a primary
point of value inherent in its Sinfit acquisition was the broad and
well-established distribution network, including its relationship
with Europa
Sports, the largest sports nutrition distributor in the
US,
and True
North Distributors, one of Canada's largest distributors of
supplies and products. That represents a significant
channel with immediate growth potential in terms of new products,
both previously developed by Sinfit and being developed by
GenTech.
The Sinfit Nutrition Buttermilk
Blaze pancake product line is a strong
addition to
its functional food
line. This new product is an
expansion of the existing range of pancake products offered under
the Sinfit brand. Sinfit pancakes brought in over $800K in sales in
2019. Functional
food,
defined as conventional and modified foods
that include additional health benefits beyond basic
nutrition,
saw sales
top $267 billion in February of this year
on a global basis,
with sales in the US reaching $63 billion, according to
Euromonitor
2020.
Lovatt continued,
"We are
predicting that this new set of Sinfit
products, in
total, including the other new product lines
yet to be
announced after today,
will add over
$1.5 million in total revenues to the top line in 2021. We
will start to see these products impact GenTech sales data in 2020,
with new products available for purchase within the next six
weeks."
About
GenTech Holdings, Inc.:
GenTech Holdings, Inc. is a
publicly traded company under the symbol GTEH. The Company launched
a high-end Coffee Subscription service
in early 2020 called Secret Javas and has recently closed on its
acquisition of Sinfit Nutrition, a range of
high-end Function Foods.
Forward-Looking Statements
This press release
may contain forward-looking statements, including information about
management's view of GenTech, Inc.'s future expectations, plans and
prospects. In particular, when used in the preceding discussion,
the words "believes," "expects," "intends," "plans," "anticipates,"
or "may," and similar conditional expressions are intended to
identify forward-looking statements. Any statements made in this
news release other than those of historical fact, about an action,
event or development, are forward-looking statements. These
statements involve known and unknown risks, uncertainties and other
factors, which may cause the results of GenTech, its subsidiaries
and concepts to be materially different than those expressed or
implied in such statements. Unknown or unpredictable factors also
could have material adverse effects on GenTech's future results.
The forward-looking statements included in this press release are
made only as of the date hereof. GenTech cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, GenTech undertakes no
obligation to update these statements after the date of this
release, except as required by law, and also takes no obligation to
update or correct information prepared by third parties that are
not paid for by GenTech.
Corporate
Contact:
invest@gentech.group
www.gentechholdings.com
