MONTRÉAL, July 22, 2024 (GLOBE NEWSWIRE) — GURU Organic Energy Corp. (TSX: GURU) (“GURU” or the “Company”), Canada’s leading organic energy drink brand1, is pleased to announce the appointment of three new independent members to its Board of Directors: Jeff Church, Anne-Marie Laberge, and Tyler Ricks. Their extensive experience and diverse backgrounds will provide valuable insight and strategic guidance as GURU works towards its expansion plans in Canada and the United States.
Jeff Church is a veteran entrepreneur and business leader with a track record of building and scaling successful companies in the US. He is the co-founder and former CEO of Suja Juice, a leading organic cold-pressed juice company, where he led the company from its startup stage to over $300 million in sales. Jeff’s entrepreneurial spirit and deep knowledge of the organic beverage market will be key in guiding GURU’s strategic direction and growth initiatives. Jeff will chair the Audit Committee going forward.
Anne-Marie Laberge is a seasoned executive with a strong background in marketing and digital transformation. She held senior positions at prominent organizations, including Bombardier Recreational Products (BRP), where she served as Chief Marketing Officer, and Telus, where she led brand and marketing activities during a critical phase of the company’s development. Anne-Marie’s extensive international experience at BRP and her deep understanding of marketing and digital ecosystems will be invaluable as GURU accelerates its digital initiatives and pursues growth opportunities outside of Canada. Anne-Marie will be a member of the Audit Committee.
Tyler Ricks brings over three decades of experience in the consumer packaged goods and beverage industries. He has held various leadership roles at companies such as PepsiCo, Peet’s Coffee, Super Coffee, and Caulipower, where he currently serves as Chief Executive Officer. Tyler also manages Ricks Family Ventures LLC, a family office with investments in dozens of disruptive food and beverage companies. His expertise in brand development, marketing strategy and operational excellence will be instrumental in driving GURU’s market presence and innovation. Tyler will chair the GHRC Committee going forward.
“We are thrilled to welcome Jeff, Anne-Marie, and Tyler to our Board of Directors,” said Eric Graveline, Chair of the Board of Directors of GURU. “Their collective expertise and leadership will be a great asset as we continue our journey into our next phase of growth. We look forward to their contributions and guidance in helping the GURU team achieve long-term success.”
In the context of these additions to the Board, Alain Miquelon has stepped down from the Board. Alain joined the GURU board when GURU became a publicly traded company in 2020 and his experience as a former senior executive of the TMX Group was instrumental in guiding the company in its transition from a private to a public company. “On behalf of the Board, I would like to thank Alain for his important contributions over the past four years and wish him all the best,” said Eric Graveline.
About GURU Products
GURU energy drinks are made from a short list of plant-based active ingredients, including natural caffeine, with zero sucralose and zero aspartame. These carefully sourced ingredients are crafted into unique blends that push your body to go further and your mind to be sharper.
About GURU Organic Energy
GURU Organic Energy Corp. (TSX: GURU) is a dynamic, fast-growing beverage company that launched the world’s first natural, plant-based energy drink in 1999. The Company markets organic energy drinks in Canada and the United States through an estimated distribution network of about 25,000 points of sale, and through www.guruenergy.com and Amazon. GURU has built an inspiring brand with a clean list of organic ingredients, including natural caffeine, with zero sucralose and zero aspartame, which offer consumers Good Energy that never comes at the expense of their health. The Company is committed to achieving its mission of cleaning the energy drink industry in Canada and the United States. For more information, go to www.guruenergy.com or follow us @guruenergydrink on Instagram, @guruenergy on Facebook and @guruenergydrink on TikTok.
1 Nielsen, 52-week period ended May 21, 2024, All Channels, Canada vs. same period year ago.
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Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to the Company’s objectives and the strategies to achieve these objectives, as well as information with respect to management’s beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “believe” or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Forward-looking information is provided for the purposes of assisting the reader in understanding the Company and its business, operations, prospects and risks at a point in time in the context of historical and possible future developments and therefore the reader is cautioned that such statements may not be appropriate for other purposes. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond management’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the following risk factors, which are discussed in greater detail under the “RISK FACTORS” section of the annual information form for the year ended October 31, 2023: management of growth; reliance on key personnel; reliance on key customers; changes in consumer preferences; significant changes in government regulation; criticism of energy drink products and/or the energy drink market; economic downturn and continued uncertainty in the financial markets and other adverse changes in general economic or political conditions, as well as the COVID-19 pandemic, the war in Ukraine and geopolitical developments, global inflationary pressure or other major macroeconomic phenomena; global or regional catastrophic events; fluctuations in foreign currency exchange rates; inflation; revenues derived entirely from energy drinks; increased competition; relationships with co-packers and distributors and/or their ability to manufacture and/or distribute GURU’s products; seasonality; relationships with existing customers; changing retail landscape; increases in costs and/or shortages of raw materials and/or ingredients and/or fuel and/or costs of co-packing; failure to accurately estimate demand for its products; history of negative cash flow and no assurance of continued profitability or positive EBITDA; repurchase of common shares; intellectual property rights; maintenance of brand image or product quality; retention of the full-time services of senior management; climate change; litigation; information technology systems; fluctuation of quarterly operating results; risks associated with the PepsiCo distribution agreement; accounting treatment of the PepsiCo Warrants; conflicts of interest; consolidation of retailers, wholesalers and distributors and key players’ dominant position; compliance with data privacy and personal data protection laws; management of new product launches; review of regulations on advertising claims, as well as those other risks factors identified in other public materials, including those filed with Canadian securities regulatory authorities from time to time and which are available on SEDAR+ at www.sedarplus.ca. Additional risks and uncertainties not currently known to management or that management currently deems to be immaterial could also cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Although the forward-looking information contained herein is based upon what management believes are reasonable assumptions as at the date they were made, investors are cautioned against placing undue reliance on these statements since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward-looking information concerning availability of capital resources, business performance, market conditions, and customer demand. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that management anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on the business, financial condition, or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and management does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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