TORONTO, Nov. 29,
2022 /CNW/ - The Well Told Company Inc. ("Well
Told" or the "Company") (TSXV: WLCO) (FSE: 7HO), the
female-founded wellness company that offers plant-based
supplements, remedies, and other functional wellness products, is
pleased to announce 41% year-over-year same-store sales as at
November 1, 2022. Additionally, Well
Told has seen an increase of its gross margin by nearly 8
percentage points to 72.35% YTD Q3 2022 (unaudited) from 64.40% in
2021 (audited).
Commenting on these results, Monica
Ruffo, founder and CEO of Well Told, stated, "Both of these
indicators were key milestones for us in 2022 and I am very proud
that our team has achieved them. While we are just getting started
with many retailers, we are beginning to see some very strong
traction with consumers as our brand continues to gain awareness,
trial and repeat purchase."
Readers are cautioned that the financial information disclosed
herein is unaudited and is qualified entirely by the financial
results to be disclosed in the annual audited financial statements
of the Company for the period ended December
31, 2022 to be filed on SEDAR (www.sedar.com) or on before
May 1, 2023.
All financial information presented in this press release has
been prepared in accordance with generally accepted accounting
principles in Canada as set out in
the CPA Canada Handbook – Accounting under Part I, which
incorporates International Financial Reporting Standards as issued
by the International Accounting Standards Board.
About The Well Told Company
Inc.
Well Told is a female-founded, emerging plant-based wellness
company that formulates, develops, distributes and sells a variety
of supplements, remedies and other functional wellness products.
Founded by serial entrepreneur and award-winning leader
Monica Ruffo, it was after
undergoing treatment for breast cancer, and deciding to take her
health into her own hands that she discovered the lack of
transparency and availability of clean, plant-based formulations in
the wellness industry. With the mission "Clean wellness for all",
Well Told's products are currently available in over 2,000 stores
across Canada including several
well-known retailers and recently launched in over 1,000 pharmacies
in the U.S. in addition to being available at welltold.com, on
Amazon, and in airports across the U.S.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain statements contained in this press release constitute
"forward-looking information" as such term is defined in
applicable Canadian securities legislation. The words "may",
"would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect"
and similar expressions as they relate to the Company are intended
to identify forward-looking information. All statements other than
statements of historical fact may be forward-looking information.
Such statements reflect the Company's current views and intentions
with respect to future events, and current information available to
the Company, and are subject to certain risks, uncertainties and
assumptions, including: the Company's ability to capitalize on
growth opportunities and implement its growth strategy; the
Company's ability to build its market share and enter new
geographies; the total available market for the Company's
products; the Company's ability to maintain brand development; the
Company's ability to retain key personnel; the Company's ability to
maintain existing customer relationships and to continue to expand
its customers' use of its products; the Company's ability to
maintain and expand geographic scope; the Company's ability to
obtain financing on acceptable terms or at all; the impact of
competition; the changes and trends in the Company's industry or
the global economy; and changes in laws, rules, regulations, and
global standards. Many factors could cause the actual results,
performance or achievements that may be expressed or implied by
such forward-looking information to vary from those described
herein should one or more of these risks or uncertainties
materialize. Examples of such risk factors include, without
limitation: risks relating to credit, market (including equity,
commodity, foreign exchange and interest rate), liquidity,
operational, reputational, insurance, strategic, regulatory, legal
and environmental; the general business and economic conditions in
the regions in which the Company operates; the ability of the
Company to execute on key priorities; the Company's results of
operations may be difficult to forecast; the Company is a holding
company with its only asset being direct ownership of Well Told
Inc.; the Company's success depends upon the continued strength of
its reputation and brands; disruptions in manufacturing facilities
or losses of site licenses and other qualifications could adversely
affect sales and customer relationships; the Company's success
depends on its ability to continue to enhance products and develop
new products; the Company's suppliers and sources for materials
and inputs may fail to support demand and increasing raw material
costs could adversely affect margins; the Company is reliant on
third parties for shipping and payment processing; the Company's
ability to compete could be negatively impacted if it is unable to
protect its intellectual property rights; the ability to implement
business strategies and pursue business opportunities; disruptions
in or attacks (including cyber-attacks) on the Company's
information technology, internet, network access or other voice or
data communications systems or services; the evolution of various
types of fraud or other criminal behavior to which the Company is
exposed; the failure of third parties to comply with their
obligations to the Company or its affiliates; the impact of new
and changes to, or application of, current laws and regulations;
granting of permits and licenses in a highly regulated business;
the overall difficult litigation environment; increased
competition; changes in foreign currency rates; increased funding
costs and market volatility due to market illiquidity and
competition for funding; the availability of funds and resources to
pursue operations; critical accounting estimates and changes to
accounting standards, policies, and methods used by the Company;
the occurrence of natural and unnatural catastrophic events and
claims resulting from such events; and risks related to COVID-19
including various recommendations, orders and measures of
governmental authorities to try to limit the pandemic, including
travel restrictions, border closures, non-essential business
closures, quarantines, self-isolations, shelters-in-place and
social distancing, disruptions to markets, economic activity,
financing, supply chains and sales channels, and a deterioration of
general economic conditions including a possible national or
global recession; as well as those risk factors discussed or
referred to in the Company's disclosure documents filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should any factor affect the Company in an
unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward- looking information is expressly qualified in
its entirety by this cautionary statement. Moreover, the Company
does not assume responsibility for the accuracy or completeness of
such forward-looking information. The forward-looking information
included in this press release is made as of the date of this
press release and the Company undertakes no obligation to publicly
update or revise any forward-looking information, other than as
required by applicable law.
SOURCE The Well Told Company Inc.
