Founder of Beauty Company With $300 Million in Sales
Toronto, Ontario--(Newsfile Corp. - September 18, 2019) - Alternate Health Corp., (CSE: AHG) (OTCQB: AHGIF) ("Alternate Health" or the "Company"), an international leader in CBD product development and distribution, announced today that Leigh Valentine, internationally renowned entrepreneur beauty, has accepted a position on the Company's Board of Directors and will work with the Company to develop a line of branded CBD beauty products.
"We are thrilled to welcome Leigh Valentine, an absolute dynamo and pioneer in health and beauty direct-selling," says Howard Mann, CEO of Alternate Health. "With her experience building brands with hundreds of millions in sales, she is a major addition to our team as we roll out our own Leigh Valentine-branded products."
Following the Company's $20 million acquisition of California pharmaceutical company, Blaine Labs, Alternate Health is in a unique position to capture the CBD health and wellness market share. By combining Alternate Health's network of physicians and Blaine Labs' 23 years of operating experience, the Company is the one of the few, if not only, FDA-registered and cGMP-compliant CBD company with a proven track record of pharmaceutical manufacturing.
Alternate Health believes Leigh Valentine is the ideal partner to rapidly scale CBD sales and distribution, based on her loyal customer base and her expertise in direct-selling. Her company, Leigh Valentine Beauty (LVB), has sold over $300 million worth of products. Together, Alternate Health aims to repeat her success in the rapidly growing CBD industry.
"In my career, I owe my success to providing my customers with only the highest quality products," says Leigh Valentine, founder of LVB. "With Alternate Health's commitment to the best sourcing and manufacturing practices, we believe we can establish the most trustworthy brand in the industry."
Leigh Valentine graduated from Stephens College with degrees in both Business Administration and Fashion Merchandising. She has served as a national beauty consultant for Revlon, Estee Lauder and Lancôme. Driven by her passion for fashion and beauty, she established her own company, Leigh Valentine Beauty (LVB), and began to formulate her own line of health and beauty products.
In 2000, she launched sales of her products, with direct selling as the centerpiece of her marketing strategy. This included infomercials on the QVC network, where her proprietary product Fermalift became the number one beauty infomercial in the country, running for over eight years. She first appeared on QVC in 2001 and was seen on the channel for the next 12 years with over 500 live shows. Between infomercials and QVC exposure, over $300 million worth of her products have been sold in the U.S. and Canada.
"Alternate Health is privileged to work with Leigh to achieve our shared goal of helping men and women regain and maintain a healthy, youthful look with renewed self-confidence," says Howard Mann, CEO of Alternate Health. "The introduction of the new line of Valentine products has been eagerly anticipated. Her grace, goodwill and success are an inspiration to all."
Amended Financing Agreement
Alternate Health would also like to announce that the Company and European High Growth Opportunities Securitization Fund (the "Fund") have further amended and restated the amended and restated subscription agreement dated July 3, 2019 (as further amended and restated, the "Agreement"), relating to a financing facility the Company announced in news releases on June 14, 2019 and July 17, 2019 respectively. Pursuant to the Agreement, the Company and the Fund have agreed to reduce the subscription amount provided for in the Agreement from $5,000,000 to $1,850,000, of which $700,000 has already been funded. To date, the Fund has converted $510,000 of the debenture previously issued to it by the Company, with Alternate Health issuing a total of 1,757,618 common shares to the Fund as a result of such conversions. A copy of the Agreement is posted on SEDAR.
About Alternate Health
Alternate Health is an international leader in the hemp-derived CBD industry, including extraction, product development and distribution. Through Alternate Health's subsidiary, Blaine Labs, the Company has 23 years of experience in FDA-registered and cGMP medical product manufacturing and distribution, with over 50 product SKUs available from major retailers, including Walmart, Amazon, CVS and Walgreens. Alternate Health's innovative software systems provide the platform for the company's diverse operations, including CBD product distribution, hemp-derived extract manufacturing, blockchain tax collection systems and electronic medical records (EMR) platforms. For more information about Alternate Health Corp., visit www.alternatehealth.com.
Jim Griffiths | Investor Relations
Jim Tykoliz | Company Director
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, including with respect to the closing of the letter of intent, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
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