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Corporate Overview

Phivida Holdings Inc is a publicly traded company on the Canadian Securities Exchange, traded on the ticker symbol “VIDA” and on the US OTC Markets as “PHVAF”.

Phivida  [“fiii-vee-daa”]  is a premium functional food and beverage company that believes that whole plant nutrition and natural ingredients are our best way to maintain overall health and balance in our bodies. We infuse all our products with organic cannabinoids from Hemp into a variety of premium foods, beverages and clinical products for everyday health.

We embrace and celebrate a return to organic, natural plant-based foods and beverages, and a focus on holistic health and wellness. Our mission is to help reduce the world’s dependence on pharmaceuticals and provide food and beverage choices that allow our customers to live a balanced healthy lifestyle.

Our Vision Health and Wellness, in harmony

Simple. To help as many people as we can. We have always believed that health through plant based and natural alternatives is the best way to maintain our health and wellbeing. We’re committed to producing innovative products from the cleanest and healthiest, nutrient rich ingredients to help you live healthier, and fuel your performance and wellness goals.

Our Mission

Phivida’s mission is to lead the alternative health care sector as the benchmark quality standard in premium cannabinoid infused foods, beverages and clinical products, with a dedication to research, education and investing back into the communities which we proudly serve.

Our Values

Collaborate

Nurturing and growing strong relationships and partnerships within our community to further the overall acceptance and understanding of cannabinoid-based health products.

Innovate

Continuously strive for greatness. We are curious minds, and want to solve problems. Creating new and innovative products while advancing research and development is at the core of everything we do.

Evolve

The only constant in life is change. At Phivida, the growth of our customers and being a part of helping you achieve your health and wellness goals is what drives our evolution.

Management

Jim Bailey President & CEO, Director

  • Former President of Red Bull Canada and Global Chief Marketing Officer Merrell Outdoors
  • Former Chief Executive Officer of Beneath Apparel, and senior executive adidas, Blue Goose (organic foods) and Salomon
  • Expertise in driving new market share and revenue growth via multi-channel DTC and distribution management strategies

Mike Cornwell Chief Marketing Officer

  • Bachelor of Commerce Marketing Management University of Otago
  • Specializing in CPG brand management, experiential and aspiration/endorsement marketing
  • Former Chief Marketing Officer Samsung NZ, Microsoft NZ, Former Director of Sales & Marketing at Red Bull Canada

Doug Campbell Chief Commercial Officer

  • Former Director of National Accounts Stoli Group
  • Former Director of Sales Red Bull North America
  • Accomplished Senior Sales and Marketing Management Professional with over 20 years of Key Account Retention and Major Brand Management expertise

Carmello Marelli, CPA, CA, CGA Chief Financial Officer

  • 25 years of experience in executive financial management for publicly traded companies
  • Principal of Marrelli Support Services Inc., a firm that delivers accounting and regulatory compliance services to listed companies on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSX-V) and the Canadian Securities Exchange (CSE), Chartered Professional Accountant (CPA, CA, CGA) and a member of the Institute of Chartered Secretaries

George Kovalyov, CA Vice President Finance

  • 11 years as an experienced financial controller, public companies audits and financial statements to GAAP and IFRS
  • Chartered Accountant designation through the Institute of Chartered Accountants of British Columbia
  • Bachelor of Business Administration, Diploma in Accounting – Kwantlen University
  • Founder and President of GVK Group Chartered Accountant

Greg McCauley Senior Vice President, Distribution

  • Over 30 years’ experience in the consumer products industry with major brands such as Jägermeister, Muscle Milk and Red Bull
  • Vice President and General Manager of Mast Jägermeister, responsible for sales and distribution in 18 U.S. states and Canada
  • Several years at Red Bull North America where he was responsible for a distributor network comprising of 375 sales territories and 500 employees with sales in excess of US$150 million

Vito Piazza Independent Director

  • Founding partner of Sid Lee Toronto
  • 15 years of professional experience in a mix of strategic account leadership, marketing communications and brand building
  • Bachelor’s degree in marketing and MBA from McGill University.

John Caruso Independent Director

  • Senior Vice President,  Acosta/Natural Specialty Sales
  • Over 20 years within in the grocery business working his way up from a clerk to store manager before entering the corporate side where he held numerous senior positions before being promoted to a Corporate Vice President.
  • Over four decades of experience in the food and beverage industry in all aspects of the business — from store operations to retail operations, procurement, merchandising and marketing within the natural specialty grocery channel.

Peter Simeon Independent Director

  • +10 year practice is focused on corporate nance, mergers and acquisitions, and structured products.
  • Current Partner of Gowling WLG Law, extensive experience in corporate commercial and securities law.
  • BA Queens University, Law Degree at York University, Osgoode Hall Law School.

Phivida Holdings Inc (VIDA:CSE)

Investor Relations Contact

ir@phivida.com

1-844-744-6646. Ext. 2

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Phivida Monthly Update 
August 2019
Hello everyone,

It is hard to believe we are already heading into the month of September after what seemed to be a whirlwind summer. While we may be looking forward to the change of seasons, we have lots to report from the month of August.

Continued growth on the retail and distribution front

We have continued to work with our Los Angeles and California-based distributor to secure new retail accounts in L.A. As a result, we are consistently growing our distribution network and providing customers with easier access to our products. We have also found significant success in independent grocery, gas, and convenience stores, as well as select on-premise accounts for our products. To help our consumers locate Oki at their local retail locations, we have recently published a list of where to find our products on our website.

Regulatory Framework

It would be hard to write this letter without first addressing the highly anticipated Bill AB 228 out of California. While I have heard from many of you since Friday’s announcement that the Bill is “held under suspension,” I do not see the news as gloomy as others do as the aforementioned term is defined by the California State Legislature as “An action taken by a committee when a bill is heard in committee, and there is an indication that the author and the committee members want to work on or discuss the bill further, but there is no motion for the bill to progress out of committee.”

We have seen similar instances in other States where they simply want to ensure detailed labelling standards etc. Based on a statement released this week by the Hemp Roundtable where they state “we’ve been assured that AB 228, or a bill like it, will pass before the end of January, if not earlier” we are confident that AB 228 or a similar bill will move forward.

As I have learned in this industry, nothing is guaranteed, and it is never safe to assume anything, hence the reason we have doubled down on direct to customer (DTC) in an effort to control our own destiny. With the acquisition of Wikala and their team of talented digital experts, this will allow us to fast track our DTC platform while building our retail platform on a state-by-state level.

Sales and Distribution

As I have communicated in the past, while the regulatory framework is being sorted out, we have made a conscious effort not to name retailers in press releases or newsletters to not draw attention to their business. While this makes it somewhat difficult to excite investors, I refuse to compromise the traditional retail business we have built to-date.

With that said, I am really excited to report our launch in Colorado was a resounding success, particularly with one retail chain where we became their #1 selling CBD beverage within two weeks of being on the shelf, and they have since decided to expand us into another 20 stores in the state of Florida. Much of this success can be attributed to the great shelf sets the sales team secured along with a robust sampling program, which has yielded incredible results. Also very important is the quality of the product itself and the efficacy it delivers to our customers. I have long said that if we can get the product on to the shelf and into the hands of the consumers, we will win every time against our competition.

Our DSD (direct store distribution) efforts have also paid off in the greater Los Angeles market as we are now in over 120 stores with some premium local chains coming on board in the month of September. Based on this success, we have decided to double down on our selling efforts and will be conducting a market blitz in the greater L.A. area the entire month of September – selling Oki up and down the street to complement our local distributor sales and distribution efforts. Our focus will not only be traditional retail, but we will also focus on strategically important businesses such as fitness studios, specialty grocery and boutique hotels. Along with our up-and-down the street efforts we also have 19 regional account meetings upcoming or pending, which our partners at Acosta have been working on tirelessly. Our time is now, and we have every intent on capitalizing upon it.

As it relates to our DSD platform, we now have distribution partners in the following states; California, Nevada, Colorado, Texas, Pennsylvania and New York, with Florida contracts currently being negotiated. As I have stated before, having a robust DSD platform complemented by a seamless DTC (e-commerce) platform certainly safeguards us as we wait for states to move on legislation.

Market Observations

If you have spent any time in the USA observing the CBD market, you will quickly learn that it is changing almost on a daily basis and we have witnessed a lot of change over the past few months including traditional supplement companies entering the category. With the likes of Garden of Life now offering CBD tinctures and capsules, they have quickly changed the competitive landscape. Based on industry sales data, many of the supplement companies are now squeezing out long-established players such as CW Hemp and Plus CBD and overtaking them in their respective sales rankings. Another market dynamic we are seeing is price compression starting to happen. With the onslaught of the supplement companies entering the space, this has the potential of lowering the average net selling price in the category. While it is easy to drive sales through aggressive promotion, I am a firm believer that the strength of a brand will always win out against short-term selling tactics. My confidence is even more buoyed when you package all our assets together; great packaging, a great product that delivers on its promise, world-class marketing assets and, most importantly, a knowledgeable and reputable team.

Sampling

We have continued our sampling efforts and expanded into the L.A area with both the commencement of in-market events, guerilla and in-store sampling efforts. We now have sampling efforts being coordinated across two markets; Colorado and L.A with the focus in Colorado mainly around in-store sampling until we build broader distribution. In L.A, our sampling efforts are focused around supporting distribution with in-store sampling and event sampling primarily in the areas where we have the greatest distribution penetration. In the first few weeks of the programme we have sampled over 2,700 consumers across both markets with over 1,000 consumers alone sampled in-store in Colorado retail stores with a conversion rate (sampled consumers to sales) of 43%!!!

New POS

In anticipation of our growing retail distribution base in California, we have ordered some new Oki fridges for key retail accounts. The fridges will be used to support new distribution and visibility for Oki in key stores over and above the cold space we secure in the stores with other functional beverages. The fridges will give Oki additional points of visibility and increasing awareness and presence and of course, sales.

New Vida+ packaging

Over the last few months, we have been working to refresh the Vida+ brand, which was looking tired in an increasingly competitive category. The packaging has not changed since its original design in 2017 and with so much competition, higher standards, and change in the category; it was felt the brand needed a facelift to align with the new Vida+ website. The new packaging is clean, natural-looking and positions the Vida+ well in its role as our lead personal care brand. The new packaging, pricing and product formulations will be live on the Vida+ website by October 1, at the latest.

Wikala and e-commerce

Throughout August, we have focused on building and optimizing all of Phivida’s websites. We launched enhanced e-commerce capabilities and refreshed branding for FeelOki.com and HempVidaPlus.com.

We have also refreshed Wikala’s content site, Greencamp.com, and launched the fully operative accessory e-commerce platform, Bloomgroove.com. Bloomgroove is now shipping all across North America. We are also working on fully building out Wikala.com, which will focus on the CBD market. Both Bloomgroove.com and Wikala.com are run on our proprietary e‑commerce platform.

One of our biggest challenges has been obtaining a reliable payment processor, particularly in the United States, which is a common issue in the industry at large. We secured this in August, which was a major milestone, and we are now able to launch our marketing campaign, which starts in September.

Our e-commerce platform offers numerous unique features, including a third party seller module. We expect to first bring this to life on Bloomgroove.com, along with other product comparison tools which in our industry will be unique to our platform. We feel that in the long run, developing our own platform will provide us with a sustainable competitive advantage. We also believe this will give us a headstart once Wikala.com launches towards the end of this year.

Thanks for your continued support. I look forward to providing another update of our progress at the end of the month.

Respectfully,

Jim

 

 

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