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Element Nutritional Sciences Inc
Symbol	ELMT
Shares Issued	118,813,680
Close 2023-11-20	C$ 0.04
Market Cap	C$ 4,752,547
Recent Sedar+ Documents

Element Nutritional to settle $318,750 debt with shares

2023-11-21 15:29 ET - News Release

Subject: Element Nutritional Sciences Inc. - News for Dissemination Word Document File: '\\swfile\EmailIn\20231121 121238 Attachment ELMT - News Release re. Cochrane and Sideways Debt Settlements (Nov 20, 2023).docx' 1 Element Announces Debt Settlements BURLINGTON, Ontario - November 21, 2023 - Element Nutritional Sciences Inc. (CSE:ELMT; OTC:ELNSF; FRANKFURT:93X) (the "Company" or "Element") announces it has entered into debt settlement agreements with an arm's length service provider and a former director of the Company (together, the "Creditors"), pursuant to which the Company has agreed to settle an aggregate of $318,750.00 in outstanding debt in exchange for the issuance of 6,375,000 common shares of the Company to the Creditors (the "Debt Settlements"). Completion of the Debt Settlements is subject to the Company receiving all necessary regulatory approvals, including approval of the Canadian Securities Exchange. Any securities issued in connection with the Debt Settlements will be subject to a hold period of four months and one day. About Element Element is an innovative and research driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically muscle health. Element's lead product, Rejuvenate(TM), is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Element also offers PROMINO(TM), an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Element was founded in 2015 and is located in Burlington, Ontario. To learn more about Element, visit elmtinc.com. More information about Rejuvenate(TM) can be found www.rejuvenatemuscle.com. Forward-Looking Statements This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, statements about the Debt Settlements, including statements regarding the terms, timing and receipt of regulatory approvals for the Debt Settlements, and the Company's business prospects, future trends, plans and strategies. In some cases, forward looking statements are preceded by, followed by, or include words such as "may", "will," "would", "could", "should", "believes", "estimates", "projects", "potential", "expects", "plans", "anticipates", "continues", or the negative of those words or other similar or comparable words. In preparing the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, timely receipt of all regulatory approvals required for the Debt Settlement, including approval of the Canadian Securities Exchange, if applicable, and that general business and economic conditions will not change in a materially adverse manner. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. For further information, please contact: Vito Sanzone Chief Executive Officer ir@elementnutrition.com 855-348-1970 Marc Charbin Investor Relations ir@elementnutrition.com 416-467-5229