Stemtech Corporation Secures Exclusive Agreement to Propel Stemtech's Revolutionary Stem Cell Nutrition Across Six African Nations
NAPLES, FL / ACCESSWIRE / January 31, 2024 / Stemtech Corporation (OTCQB:STEK), a leading innovator in patented stem cell nutrition health products, announces a significant milestone in its global expansion strategy with the signing of a license Agreement with an established direct sales company, based in Kenya. The Agreement, effective January 29th, 2024, grants the license to purchase, use, market, and distribute Stemtech's cutting-edge health related products within the designated Territory(s), including Kenya, Uganda, Tanzania, Ghana, Democratic Republic of Congo and Nigeria.
This strategic move represents Stemtech's commitment to reaching new markets and introducing its patented stem cell nutrition, skin care and oral care products to new markets. The licensing agreement includes the distribution of StemRelease3, StemFlo Advanced®, MigraStem, OraStem, and Cellect One Rapid Renew Stem Cell Peptide Night Cream.
John W. Meyer, President & COO of Stemtech Corporation, expressed excitement about the expansion, stating, "We believe that this partnership marks a significant opportunity for Stemtech to establish brand recognition in key African markets and contribute to the overall health and wellness of the region. We are confident that our stem cell nutrition products will make a positive impact and contribute to the growth of the wellness industry in Africa. Distributors will benefit from additional income for the current network marketers already engaged through the Licensee and for new potential distributors that they will gain with the proprietary Stemtech line of products."
Additionally, the new Licensee has already placed a significant initial order, and Stemtech Corporation has received certified funds for these products. This financial commitment underscores the confidence both parties have in the success of this venture.
The licensing agreement is structured for a twenty-four (24) month term, during which the new distributor will serve as the exclusive Stemtech representative for the specified products in the agreed-upon Territory(s). The Agreement includes provisions for annual sales volumes, product pricing, and compliance with applicable laws. Stemtech Corporation looks forward to a successful collaboration within Africa and anticipates mutual growth and success as they work together to bring Stemtech's innovative products to new African markets.
Vice President of Global Sales for Stemtech, Alejandro Carrillo, commented, "My current efforts are focused on expanding our Latin American markets. We just reopened Colombia where we historically sold over $10 million dollars of Stemtech products. Recently, we were approached by a company with similar interests in specific African countries who were aware of the benefits of our products, unsolicited. Because of the quality and legacy of Stemtech products, we were sought out to provide Stemtech products in an area we were not even looking to engage at this time! The stem cell industry is in significant growth mode and Stemtech provides a natural way to benefit from stem cells without injections or surgery, naturally. It seems to be catching on."
Stemtech Corporation, a leading stemceutical company with a direct sales distribution model, was founded on April 18, 2018, after acquiring the operations from its predecessor Stemtech International, Inc., which was established in 2005. From 2010 through 2015, Stemtech International, Inc., was recognized four separate times on the Inc. 5000 Fastest-Growing Companies list. In 2018, Stemtech underwent an extensive executive reorganization, and continued operations under new leadership as Stemtech Corporation. In August 2021, Stemtech became a publicly traded company (OTCQB: STEK) and has expanded business opportunities for its Independent Business Partners, who may earn incomes by sharing Stemtech products. The Global Stem Cell market is projected to be $30 billion by 2030 and similarly, the nutritional supplement market is projected to be over $700 billion by 2030 as well. With these two leading market indicators, Stemtech is well positioned as the pioneer in stem cell nutrition, oral and skin care products, to increase sales in the wellness industry.
This announcement contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on December 1, 2023. We undertake no duty to update any forward-looking statement, or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Stemtech Corporation which are condoned by the Company must emanate from the Company itself and bear our name as its Source.
SOURCE: Stemtech Corporation
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