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SALT LAKE CITY, July 23, 2019 (GLOBE NEWSWIRE) -- LifeVantage (Nasdaq:LFVN) hosted its bi-annual Elite Academy in Kansas City, Missouri, over the weekend. Over 5,000 Distributors registered for attendance to help celebrate the company’s 10th anniversary in the direct selling industry and usher in the next decade of biohacking.
As part of his welcome address, LifeVantage CEO Darren Jensen took attendees on a trip down memory lane, but also painted a picture of the coming decade.
“We began in a lab with a single, powerful scientific discovery – a discovery that proved we, as humans, have more capacity, potential, and ability within us than we had been led to believe,” Jensen said. “As rich and exciting as our history is as a company, I am even more excited about our future. I am as convinced as I ever have been that our best days are ahead of us.”
As part of that future, LifeVantage has announced its intent to expand its nutrigenomic product line. The new product will be the company’s first addition to its flagship Protandim® line since the launch of Protandim® NRF1 Synergizer in 2016.
“This is more than just a new addition,” Jensen said. “It’s a game-changing product that will give our customers and distributors a powerful new way to enhance their business and health.* The more we learn about nutrigenomics, the more we realize what it can do. And we’re so excited to bring this new product to market.”
The new product is slated to launch at the company’s Elite Academy in Long Beach, Calif., in October.
Jensen lauded the company’s activity rate of new enrollees and overall retention rate, which is among the best in the industry, but challenged attendees to escalate their efforts on bringing new customers and distributors into the business with a goal of increasing active members with a monthly product subscription to 300,000.
To this end, Jensen announced a number of new initiatives coming in 2020, including free shipping; a new cadence for corporate events that will introduce regional Elite Academies and an event known as Destination EA that will be one-part training and one-part experience; and the integration of a daily pay model into its commission structure.
The company also formally introduced its new senior vice president of research & development, Dr. Brian Dixon, who joined the company this month. He has worked in the nutritional industry for more than 10 years in a variety of executive health and science education and product innovation capacities. He holds a Ph.D. in molecular and cellular biology from Oregon State University in affiliation with the Linus Pauling Institute, where his research focused on the underlying biochemical and cellular mechanisms of aging.
*These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
LifeVantage Corporation (Nasdaq: LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The Company engages in the identification, research, development, and distribution of advanced nutrigenomic dietary supplements and skin and hair care products, including its scientifically-validated Protandim® product line, Omega+ and ProBio dietary supplements, its TrueScience® line of Nrf2-infused skin and hair care products, Petandim™ for Dogs, Axio® Smart Energy Drink mixes, and the PhysIQ™ Smart Weight Management System. LifeVantage is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com.
Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe", "hopes", "intends", "estimates", "expects", "projects", "plans", "anticipates", "look forward to", "goal", "may be", and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding our future growth, projected success in certain markets, distributor success, and shareholder value. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
|Investor Relations Contact:||Media Relations Contact:|
|Scott Van Winkle||Chris Taylor|
|Managing Director, ICR||Director of Communications, LifeVantage|
|(617) 956-6736||(801) 432-9170|