NEXE's BPI-certified compostable coffee pods
are expected to provide Bridgehead with an opportunity to further
expand into the single-serve coffee market while staying true to
its sustainability commitment
WINDSOR,
ON, Nov. 26, 2024 /CNW/ - NEXE Innovations
Inc. ("NEXE", the "Company", "we", "us" or "our") (TSXV: NEXE)
(Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative
materials company, is pleased to announce a delivery to an
established coffee company: Bridgehead Coffee
("Bridgehead"), a proudly Canadian-owned and operated business
with over 40 years of history.
Previously, Bridgehead offered compostable soft-bottom coffee
pods to its customers but has decided to transition to NEXE's
BPI-certified compostable coffee pods. The initial delivery
includes two SKUs from their coffee line (Centro House and Bytown Boom), which they also
sell in bag versions.
Bridgehead was one of the first coffeehouses in Canada to serve Fairtrade coffee. Bridgehead
operates 17 coffeehouses in Ontario and is a wholesale partner with retail
and grocery chains, including Costco, Whole Foods Market, Sobey's,
and Farm Boy. Bridgehead also sells its products through its
website: https://www.bridgehead.ca/.
"NEXE is excited to partner with Bridgehead, not only to
provide what we believe is a superior compostable coffee pod
solution but also to leverage their well-established customer
distribution channels, expanding the reach of our innovative
products to a broader audience, stated Ash Guglani,
President of NEXE Innovations, "The teams are working closely to
build a successful long-term partnership and create a more
sustainable future in the North American coffee industry."
Bridgehead was previously owned by a publicly traded company,
Aegis Brands Inc., and generated $16.4
million in sales for the 2023 year-end.1 In early
2024, Bridgehead was sold to Pilot Coffee Group of Companies
(https://pilotcoffeeroasters.com/)2. Bridgehead works
with quality-oriented farmers who deeply respect the environment
and the final product. They are committed to community,
sustainability, and great-tasting premium coffee.
__________________________________
|
1 Aegis
Brands, 2023 Management's Discussion and Analysis, page 10
(https://aegisbrands.ca/investor-relations/financial-results/)
|
2
https://www.newswire.ca/news-releases/aegis-brands-announces-closing-of-sale-of-bridgehead-coffee-assets-823146959.html
|
About NEXE Innovations Inc.
NEXE Innovations is
focused on providing innovative compostable material solutions and
packaging to the B2B segment to help businesses achieve their
sustainability goals. NEXE Innovations has developed a proprietary
and patented compostable material that can withstand heat,
pressure, and water. Our flagship product, the NEXE Pod, a
BPI-certified compostable coffee pod, showcases our material's
durability and is an ideal substitute for plastic. The NEXE
pod is compatible with major coffee brewing machines and is
manufactured at NEXE's vertically integrated facility based in
North America. Discover our
innovative approach to sustainability at www.nexeinnovations.com
and join our journey on social media @nexeinnovations.
#compostablecoffeepods #sustainability #greentech
On behalf of the Company:
Ash Guglani
President & Director
For investor relations contact:
Kam Mangat
VP, Investor Relations & Corporate Strategy
invest@nexeinnovations.com
Office +1-604-359-4725
Mobile +1-604-359-4742
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this release are
forward-looking statements or information, which include, but are
not limited to, statements in respect of the Company's partnership
with Bridgehead. Forward-looking statements consist of statements
that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, the Company's ability to execute on
its business strategy and those risks set out in the Company's
management's discussion and analysis for year ended May 31, 2024 under the headings "Risk and
Uncertainties". Such statements and information are based on
numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in
the future, including the demand for its products, anticipated
costs, and the ability to achieve goals. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include receipt of necessary approvals
and general economic, market or business conditions.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The reader is
cautioned not to place undue reliance on any forward-looking
information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Nexe Innovations Inc.