TORONTO, Sept. 17,
2024 /CNW/ - Newtopia Inc. ("Newtopia" or the
"Company") (TSXV: NEWU) (OTCQB: NEWUF), a tech-enabled habit
change provider focused on preventing, slowing, and reversing
chronic disease, is pleased to announce the expansion of its
long-standing partnership with a global apparel leader for GLP-1
support. The expansion will make available Newtopia's proven GLP-1
Ally & Sustain programs to all employees and
spouses taking GLP-1 medications. As such, Newtopia expects to
enroll as many as 1,000 new participants from this singular
expansion by early 2025.
Consistent with Newtopia's mission to cultivate lasting health
outcomes in its users, the GLP-1 Ally and Sustain
programs combine habit change coaching with nutrition, exercise and
mental & emotional well-being support so that individuals
taking GLP-1 medications can maintain their clinically significant
weight loss – even as they transition off of their GLP-1
medication. The results are healthier, happier employees and
vastly improved economics for sponsors and payers.
"A valued partner since 2019, we are thrilled today to extend
our GLP-1 companion offerings to one of the market's leading
employer innovators," said Jeff
Ruby, Founder and CEO of Newtopia. "We're incredibly
fortunate to collaborate with a partner that truly values the
transformative impact of personalized coaching on both health and
economic outcomes to employees and their families."
"This innovative expansion, along with several other significant
client scale-up efforts and payer contracts in the works, sets
Newtopia up for profitable growth and the achievement of cash flow
positivity in 2025."
Update on Strategic Process
A Special Committee of the Board of Directors of the Company is
working with financial advisors to explore and evaluate all value
maximizing alternatives for the Company, which may include, among
other things, a corporate sale, a merger or other business
combination, or strategic investment. The Company is in
discussions with multiple parties about strategic transactions –
partnering, financing or acquisition. The strategic process
is intended to provide solutions to the Company to keep the
business achieving its goals while taking care of its debts and
obligations, including subordinate debentures due on September 15, 2024, that have not been paid back
as the strategic process remains ongoing.
About Newtopia
Newtopia is a personalized whole health platform helping people
create positive lifelong habits that prevent, slow, or reverse
chronic disease while reducing healthcare costs. The platform
leverages genetic, social and behavioral insights to create
individualized prevention programs with a focus on metabolic
disease, diabetes, mental health challenges, hypertension, weight
management and musculoskeletal disorders. With a person-centered
approach that combines virtual care, digital tools, connected
devices and actionable data science, Newtopia delivers sustainable
clinical and financial outcomes. Newtopia serves some of the
largest nationwide employers and health plans and is currently
listed in Canada on the TSX
Venture Exchange (TSXV: NEWU) and is quoted in the US on the OTCQB®
Venture Market (OTCQB: NEWUF).To learn more,
visit newtopia.com, LinkedIn or X.
Forward Looking Statements
This news release contains forward-looking information and
forward-looking statements, within the meaning of applicable
Canadian securities legislation, and forward looking statements,
within the meaning of applicable United
States securities legislation (collectively,
"forward-looking statements"), which reflects management's
expectations regarding Newtopia's future growth, results from
operations (including, without limitation, future production and
capital expenditures), performance (both operational and financial)
and business prospects and opportunities. Wherever possible, words
such as "predicts", "projects", "targets", "plans", "expects",
"does not expect", "budget", "scheduled", "estimates", "forecasts",
"anticipate" or "does not anticipate", "believe", "intend" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative or grammatical variation thereof or
other variations thereof, or comparable terminology have been used
to identify forward-looking statements. All statements other than
statements of historical fact may be forward- looking information.
Such statements reflect Newtopia's current views and intentions
with respect to future events, based on information available to
Newtopia, and are subject to certain risks, uncertainties, and
assumptions. Material factors or assumptions were applied in
providing forward-looking information. While forward-looking
statements are based on data, assumptions and analyses that
Newtopia believes are reasonable under the circumstances, whether
actual results, performance or developments will meet Newtopia's
expectations and predictions depends on a number of risks and
uncertainties that could cause the actual results, performance and
financial condition of Newtopia to differ materially from its
expectations. Forward-looking statements are not a guarantee and
are based on a number of estimates and assumptions management
believes to be relevant and reasonable, whether actual results,
performance or developments will meet Newtopia's expectations and
predictions depends on a number of risks and uncertainties that
could cause the actual results, performance and financial condition
of Newtopia to differ materially from its expectations. Certain of
the "risk factors" that could cause actual results to differ
materially from Newtopia's forward-looking statements in this press
release include, without limitation: the termination of contracts
by clients, risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities to
try to limit the pandemic, including travel restrictions, border
closures, non-essential business closures, quarantines,
self-isolations, shelters- in-place and social distancing,
disruptions to markets, economic activity, financing, supply chains
and sales channels, and a deterioration of general economic
conditions including a possible national or global recession; and
other general economic, market and business conditions and factors,
including the risk factors discussed or referred to in Newtopia's
disclosure documents, filed with the securities regulatory
authorities in certain provinces of Canada and available at www.sedarplus.ca
including Newtopia's final long form prospectus dated March 30, 2020.
For more information on these risks please see the "Risk
Factors" in Newtopia's final long-form prospectus dated
March 30, 2020. Should any factor
affect Newtopia in an unexpected manner, or should assumptions
underlying the forward-looking information prove incorrect, the
actual results or events may differ materially from the results or
events predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement. Moreover,
Newtopia does not assume responsibility for the accuracy or
completeness of such forward-looking information. The
forward-looking information included in this news release is made
as of the date of this news release, and Newtopia undertakes no
obligation to publicly update or revise any forward-looking
information, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Newtopia Inc.