HENDERSON, Nev., March 04, 2020 (GLOBE NEWSWIRE) -- BioELife Corp. (OTC QB: LITH) (the “Company”), formerly known as US Lithium Corp., is pleased to announce that it has achieved several key milestones during its initial month of operating its CBD business. The Company received a purchase order for its entire first production run of ChiroRub 2000, its proprietary relief rub formulation containing 1,000 mg of CBD per ounce. It is also extending packaging options across several product lines. The Company has now launched both its and corporate website, www.bioelife.com, and its wholesale website, www.bioelife.net. The name-change to BioELife Corp. became effective as of March 3, 2020. A change to the Company’s trading symbol, to better reflect the new name and strategic direction, should be completed in the next 30 days.
The initial purchase order from CBD wholesaler, CBDNext, covers all current BioELife products – lotions, tinctures, and gummies. CBDNext is marketing CBD products directly to Chiropractic Network Distributors as well as to consumers through mass media channels. The initial launch, focused on the East Coast, will be expanded nationwide over the next 60 days. The Company has also developed a new 3 ml packaging option for single use applications which are critical in the medical industry. Further packaging enhancements will be implemented over the next 30 days as the Company expands its manufacturing efforts to meet the needs of wholesale, retail and consumer channels. Wholesale orders and payments are being accepted on BioELife’s ecommerce site, www.bioelife.net, and the recently launched corporate site, www.bioelife.com, provides information on the Company as well as investor relations and SEC filings.
Gregory Rotelli, Chairman of the Board and President of BioELife stated, “ChiroRub 2000 was extremely well accepted across multiple sales channels. We look forward to expanding the packaging options as we continue to improve people’s lives through the use of non-addictive remedies that provide relief. We expect our 3 ml packaging to be ready within three weeks followed shortly by our CBD Gum Drops in a 4 pack. We’ve made significant progress during our first month as we continue to position BioELife as a significant force in the CBD industry. We understand the market and are diligently identifying and pursuing our niche.” He concluded, “I appreciate the hard work and dedication of our team and all our partners who have contributed to these initial achievements.”
About the Company
US Lithium Corp’s new strategic direction as BioELife Corp. was created by successful pharmaceutical entrepreneurs dedicated to using nature’s resources to fight pain and infection while reducing the dependency on opioids and their terrible side effects. The Company is uniquely positioned to capitalize on the emerging Cannabinoid market that is growing at phenomenal rates and is expected to reach $20 Billion over the next five years. The Company has created a ‘seed to shelf’ value-added product development and marketing organization with direct contracts for raw materials, scientific proprietary formulation, manufacturing, and distribution of medically focused Cannabinoid products.
Notice Regarding Forward-Looking Statements
Disclaimer: This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of BioELife Corp. and members of their management and Board of Directors as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.