Tag: Poda Lifestyle and Welness

  • Poda Completes Asset Sale to Altria Client Services

    Poda Completes Asset Sale to Altria Client Services

    Photo: Poda Holdings

    Poda Holdings has completed the sale of substantially all of the assets and properties used in the company’s business to Altria Client Services for a total purchase price of $100.5 million, subject to certain adjustments and holdbacks, pursuant to a definitive agreement dated May 13, 2022.

    Pursuant to the Asset Purchase Agreement, Poda will change its name to Idle Lifestyle and its trading symbol to IDLE.X. The company expects to trade as an inactive issuer under the policies of the Canadian Stock Exchange.

    “The completion of this sale represents the culmination of a tremendous amount of effort from the entire Poda team, and I am extremely proud of what we have accomplished,” said Poda Director, CEO and Chairman Ryan Selby in a statement.

    I believe this transaction provides maximum value for the company and its shareholders, and I know our innovative technology is now in good hands with Altria.”

  • Poda Begins Clinical Trials on Heated Tobacco Product

    Poda Begins Clinical Trials on Heated Tobacco Product

    Photo: Poda Lifestyle and Wellness

    Poda Lifestyle and Wellness has started setting up the first clinical trials for its smoking cessation products.

    “I have already initiated the process of setting up the first clinical trials related to the efficacy of Poda’s products as smoking cessation tools,” said Poda Chief Medical Officer Jagdeep Gupta, who joined the company in July, in a statement. “I am currently in the process of setting up a pilot study, which will give us a solid platform for developing strong and effective clinical trials.

    “These clinical trials will be designed to result in the publication of level 1 evidence in respected medical journals globally if the data provides evidence. The pilot studies will also be designed to establish a scientific basis for the efficacy of Poda’s products as smoking cessation tools and additionally may provide Poda with access to research grants and other funds that can be used for additional studies, clinical trials and validation research.”

    The company has also entered into an agreement with Command Marketing predominantly to develop Poda’s e-commerce platform and brand identity. As part of this branding campaign, Command Marketing will also provide investor relations services.

  • Poda Prepares to Launch ‘Revolutionary’ HnB Product

    Poda Prepares to Launch ‘Revolutionary’ HnB Product

    Photo: Podya Lifestyle and Wellness

    After six years of development, Poda Lifestyle and Wellness is ready to bring its revolutionary HnB product to the masses, according to company founder and CEO Ryan Selby. In a letter to shareholders, Selby detailed recent the company’s recent accomplishments and shared his plans.

    Poda was founded in January 2015 with the vision of creating a superior heat-not-burn (HnB) product. The company set out to address a major pain-point in all HnB systems: cleaning. After six years of designing and perfecting the technology, it came up with a product that delivers a robust, flavorful and consistent user experience, according to Selby. “Poda is now essentially the only company in the world that can make a closed-ended HNB cigarette,” he says. Its Beyond Burn pods have been patented in more than 65 countries.

    In addition, the company developed a heat-tolerant biodegradable material made from the cell walls of sustainably harvested plants. “This naturally derived and low-cost material allows us to produce our patented Beyond Burn Poda Pods not only incredibly efficiently, but also in an ethical and sustainable manner,” says Selby. Poda has filed for patent protection for the proprietary biodegradable plant cellulose materials used to make its closed-ended HNB cigarettes and the proprietary methods for manufacturing them.

    The company’s tobacco-free Beyond Burn Poda Pods contain a proprietary blend of tea leaves and synthetic nicotine that delivers the satisfaction and sensory experience of ordinary smoking without the smoke and without the cleaning.

    Recently, Poda executed a binding letter of intent with ESON with the intent of launching its products in China. Earlier this month, tobacco industry veteran Juan Manuel (“Jon”) Ruiz joined Poda’s strategic advisory board. A key top-level executive at Philip Morris International, Luiz was around during the time when PMI was internally developing its heat-not-burn products. “The experience and expertise that Jon brings from the fast-moving consumer goods market is of exceptional value to Poda,” said Selby.

    We are now ready to scale our production capacities to virtually any production volume.

    Ryan Selby, CEO, Poda

    Less than two months ago, Poda listed its shares on the Canadian Securities Exchange and the Frankfurt Securities Exchange, and the company is currently waiting for final approval to have its shares listed on the OTCQB exchange in the U.S. Down the road, the company aims to “uplist” to the NASDAQ and other major global exchanges, according to Selby.

    Meanwhile, Poda’s pilot manufacturing plant is fully operational and is turning out over 400,000 closed-ended HNB cigarette units per month. “We built this pilot facility to prove out each of our manufacturing technologies, and I am pleased to report that we are now ready to scale our production capacities to virtually any production volume,” said Selby.

    Over the coming months, Poda will be aggressively pursuing distribution and white-labelling opportunities with carefully selected partners in strategic locations around the globe.

    “As CEO, it is my responsibility to lead Poda towards our goal of becoming a major player in the global heat-not-burn market,” said Selby. “I know we have a fantastic product, but that on its own is not enough. We must make smart choices and take calculated risks to grow the company as quickly and sustainably as possible.”

  • Poda and Eson Pursue Europe, Asia Partnership

    Poda and Eson Pursue Europe, Asia Partnership

    Photo: Poda Lifestyle and Wellness

    Poda Lifestyle and Wellness and Shenzhen Eson Technology Co. have signed a binding letter of intent to facilitate a joint development agreement, whereby Poda will join Eson’s existing distribution network in Europe and Asia where Eson is currently selling over 50 million units per month.

    Poda has developed and patented a heat-not-burn (HNB) platform while Eson has developed a patented proprietary blend of tobacco-free products that it currently sells through the brand Neafs.

    “We are incredibly excited to partner with Eson, who is recognized as one of the leading manufacturers of electronic cigarette devices, and more recently as one of the global leaders in tobacco-free heat-not-burn products” said Ryan Selby, CEO of Poda, in a statement.

    “Daniel Chen and his team at Eson are currently filling and distributing millions of Neafs products per month into the Chinese market, providing us with tremendous opportunities to scale. There are over 400 million adult smokers in China, and we believe that this partnership with Eson will provide us with a fast-track opportunity to rapidly develop our market share in the Chinese market,” said Selby.

    Eson has designed numerous electronic nicotine delivery systems and has licensed its IP to some of the biggest tobacco companies in the world. In addition, Eson has served as an original equipment manufacturer for some of the biggest tobacco companies globally, including Japan Tobacco International, Imperial, British American Tobacco, Godfrey Philips India, Philip Morris International and China National Tobacco.

    Eson has designed numerous electronic nicotine delivery systems and has licensed its IP to some of the biggest tobacco companies in the world. In addition, Eson has served as an original equipment manufacturer for some of the biggest tobacco companies globally, including Japan Tobacco International, Imperial, British American Tobacco, Godfrey Philips India, Philip Morris International and China National Tobacco.

    This partnership will provide us with a fast-track opportunity to rapidly develop our market share in the Chinese market.

    Ryan Selby, CEO, Poda

    “Poda has developed an incredible HNB platform, and their zero cleaning pods offer consumers a hassle-free HNB product that delivers consistently great results, day after day” said Daniel Chen, CEO of Eson. “Additionally, the vapor is flavorful and robust, offering cigarette-like satisfaction to discerning adult smokers.

    “We are already selling over 50 million Neafs stick per month and are currently expanding our production facilities to produce over 250 million Neafs sticks per month, which should be completed within the next 60 days. Since we launched the Neafs products in October 2020, the demand for Neafs products has been overwhelming. We are extremely excited to offer the Neafs by Poda products to our existing distribution channels, and we anticipate tremendous success with the Neafs by Poda products.”