Way of Will Inc. Begins Trading on the Canadian Securities Exchange and Provides Outlook for 2022
TORONTO, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Way of Will Inc. (CSE:WAY) ("Way of Will" or the "Company"), an alternative wellness company, announces that it has commenced trading on the Canadian Securities Exchange (the "CSE") today under the ticker symbol "WAY". The Company is also providing an update on its operations and upcoming roadmap for growth.
Way of Will is a Canadian wellness brand known for its plant-based products with a focus on aromatherapy and active lifestyles. Spearheaded by founder and CEO Willie Tsang, the Company has worked with numerous retail giants to expand its brand presence across North America both online and in brick-and-mortar stores.
"We are extremely pleased to make our debut on the Canadian Securities Exchange," commented Willie Tsang, who founded the Company in 2016. "This is one of many critical steps that we're taking to ensure continued growth as a leading brand in the natural wellness sphere."
Product Extension and Marketplace Expansion
In the upcoming year, Way of Will is setting its sights on creating new revenue streams to further diversify its position in the market. Utilizing an established strategy with demonstrated success, the Company has assembled an experienced and accomplished team to lead product launches beginning in Q1 2022, leveraging its brand authority in the wellness sphere to grow its two sub-brands, Nude & Crude and G? Society. In addition to introducing new product variants in the brand's existing collections, the Company has plans to expand beyond body care products and into supplements and functional home products, as well as launching its own marketplace platform.
Key Performance Indicators
Way of Will is pleased to announce that it has successfully met and surpassed several Key Performance Indicators in 2021:
- Increased revenue from $1.9M in 2020 to $3.7M in 2021 with an average CAGR of 22% over the last 3 years.
- Increased gross margins from 31% in 2020 to 46% in 2021, in large part due to sales coming from the Company's own e-commerce platform.
- Launched Way of Will products at leading supermarket chain Whole Foods Market across 450 stores across the U.S.
- Increased Amazon and Walmart marketplace sales by 3-8%.
Operational Improvements
In anticipation of its continued growth, the Company will focus on streamlining and enhancing current operations in the upcoming year, further honing efficiencies, improving performance while reducing costs, and fortifying its marketing and production efforts to bolster sales. In addition, the Company intends to:
- Assemble a team of digital marketing experts to bolster sales and marketing efforts.
- Launch its sub-brand, G? Society, to expand beyond essential oils and into the supplements category.
- Introduce a home product line, starting with natural essential oil-based room sprays, to expand beyond skin care and body care products.
- Continue developing its own marketplace platform, where consumers and wellness experts can also connect to build and foster a strong brand community.
2022 Forecast
Way of Will is anticipating exponential growth in 2022 as the Company continues to fortify its marketing and product development strategies, backed by its strong team of established Officers and Directors with decades of proven experience managing multimillion-dollar companies. The Company will leverage its expertise and brand authority in the wellness sector to continue offering consumers a growing and in-demand assortment of natural products and wellness services, bringing them closer to becoming the leading brand in wellness products in North America.
Stock Options
The Company also announces that it has granted 4,190,000 incentive stock options to directors, officers, employees and consultants. The incentive stock options have an exercise price of $0.10 per share, are valid for a 5-year period from the date of grant and are subject to regulatory approval.
About Way of Will Inc.
Way of Will is a Canadian CPG manufacturer and retailer offering a full range of natural, plant-based wellness products. Way of Will currently offers a total of 191 SKUs of natural skin care and wellness products through its main brand and sub-brands, Nude & Crude and G? Society. To learn more, please visit: www.wayofwill.com
ON BEHALF OF THE BOARD OF DIRECTORS
Way of Will Inc.
Willie Tsang
CEO and Director
For further information please contact:
Willie Tsang at [email protected]
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that the Company anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements with respect to: the Company's business and business plans; the Company's strategy and current focus on developing brands and new products, including in respect of anticipated growth. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs regarding future growth, results of operations, future capital (including the amount, nature and sources of funding thereof) and expenditures. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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