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.
Newtopia Inc. Logo (CNW Group/Newtopia Inc.)
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.
