Leading Brands, Inc. Announces New Products for United States Distribution
VANCOUVER, CANADA - April 2, 2003 - LEADING BRANDS, INC. LBIX (TSX:LBI), North America's only independent, fully integrated, premium beverage company, announces that its wholly-owned subsidiary, Leading Brands of America, Inc., has entered into license agreements to introduce three new products to the United States.
The first two multi-year agreements involve the license by Leading Brands of America of two energy drinks - Mad Croc™ and Red Devil™ - initially in 8.4 oz and 16 oz aluminum cans, respectively. The third new agreement contemplates the development by Leading Brands of a proprietary, healthful product line that can capitalize on the fast growing nutritional supplement market. The primary benefit to Leading Brands is the access to revolutionary new technology developed in conjunction with scientists from the Harvard Medical School. This new product is contemplated to provide consumers with nutritional benefits - that presently can only be obtained by taking several large pills - in an easier to consume single serve drink format.
Leading Brands of America President Robert Miller said: "These new agreements allow us to start fulfilling our commitment to our growing US distributor network to include a full range of new and innovative beverages. Red Devil™ already has a following in certain markets in the US and it is hoped that we will be able to expand that presence as we grow our distribution system across the country. Mad Croc™ will start with an exclusive national listing with the 7-Eleven chain."
Mr. Miller concluded: "We continue this year to concentrate on expanding distribution of TREK® Optimized Performance Beverages™ and Pez® 100% Juices™, the latter of which started rolling out in 7-Eleven and other significant National and Regional chains across the US last week."
Leading Brands Chairman & CEO, Ralph McRae added: "We are excited about bringing our proven product development skills to bear on the nutritional supplement market. This is an extraordinary new area and our opportunity lies in bringing these historically niche but fast growing products to mainstream America. The addition of new licensed brands to our US portfolio mirrors the way in which we built our Integrated Distribution System™ (IDS™) success across Canada."
Mad Croc™ and Red Devil™ will be introduced within the next thirty days, whereas the new nutritional supplement will be developed over the next several months.
About Leading Brands, Inc.
Leading Brands, Inc. (NASDAQ:LBIX) is North America’s only fully integrated premium beverage company. The Company’s unique Integrated Distribution System (IDS) ™ offers turnkey, one-stop shopping to food and beverage brand owners, including manufacturing, distribution, sales/marketing and licensing. In addition, Leading Brands produces their own line of beverages such as TrueBlue®, LiteBlue®, TREK® Natural Sports Drinks, NITRO® Energy Drinks, INFINITY® Health Water™, Country Harvest® Juices, and Caesar’s® Cocktails.
Forward Looking Statements
Certain information contained in this press release includes forward-looking statements. Words such as “believe”, “expect,” “will,” or comparable terms, are intended to identify forward-looking statements concerning the Company’s expectations, beliefs, intentions, plans, objectives, future events or performance and other developments. All forward-looking statements included in this press release are based on information available to the Company on the date hereof. Such statements speak only as of the date hereof. Important factors that could cause actual results to differ materially from the Company’s estimations and projections are disclosed in the Company’s securities filings and include, but are not limited to, the following: general economic conditions, weather conditions, changing beverage consumption trends, pricing, availability of raw materials, economic uncertainties (including currency exchange rates), government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other risk factors described from time to time in securities reports filed by Leading Brands, Inc.