Dublin, Ireland--(Newsfile Corp. - September 29, 2022) - Tonisity International Limited ("Tonisity"), an animal health and nutrition company based in Ireland, is pleased to announce that the Ministry of Agriculture and Rural Affairs of the People's Republic of China ("MARA") has issued registration licenses in respect of Tonisity's DoggyRade, KittyRade and DoggyRade Pro companion animal products.
The registration licenses issued by MARA enable Tonisity to legally sell these products into the Chinese companion animal market. Tonisity is now working to obtain an import permit from the General Administration of Customs in the People's Republic of China ("GACC") in order to import these products into China. Tonisity intends to begin selling these products into the Chinese market in Q1 of 2023.
China is one of the largest markets in the world for companion animal products, with over 100 million pet dogs and cats in urban China alone. The market for pet food supplies, medicines and services in China was worth nearly US$26.5 billion in 2020 and the market experienced a compound annual growth rate (CAGR) of over 30% between 2010 and 2020.1 The CAGR for the companion animal sector in China is expected to continue to be high given a number of durable trends, including rising disposable incomes, more people living alone and buying pets, and younger pet owners willing to spend more money on their pets.
About Tonisity's Companion Animal Products
Tonisity produces the world's first isotonic, prebiotic drink products that are very palatable for dogs and cats. The first two drink products are marketed as over-the-counter/retail/direct-to-consumer products. They are:
DoggyRade - a delicious, prebiotic isotonic (with electrolytes), low-calorie drink that provides digestive support and general health benefits to dogs. The unique formula encourages fast hydration and recovery after exercise and exertion.
KittyRade - a very palatable prebiotic, isotonic drink for cats that encourages them to drink more, which is important given that approximately one-third of cats suffer from health issues related to not drinking enough water. It also includes essential amino acids and prebiotics.
The third product is:
- DoggyRade Pro - a non-prescription isotonic rehydration drink to treat dogs who are unwell and have digestive health issues. This product is normally sold through veterinarians.
The products noted above are currently marketed in 25 languages, from Arabic to Swedish. Within the first 12 months of launch in January 2021, the products have won three industry awards in the United Kingdom and the United States.
DoggyRade, KittyRade and Tonisity's other companion animal products are also available in a number of pet chains and other retail stores in Europe, as well as the US-based e-commerce site, www.chewy.com and www.amazon.com.
Arie Halpern, CEO of Tonisity, comments: "Having received approval to sell our patented pet products from the government of one of the largest companion animal markets in the world, Tonisity is poised to accelerate sales in this growing sector, as well as the swine sector. These novel products have proven technology that improves the health and well-being of cats and dogs. We are pleased to have achieved this important milestone and will continue to work tirelessly to increase our sales in China, while working to obtain regulatory permits for the rest of our products. Tonisity is making further progress in becoming a leading global animal health company."
Further updates will be provided in the near future.
For More Information on Tonisity
Tonisity is an animal health and nutrition company based in Ireland that is currently focusing its patented technology in two specific markets: (1) isotonic products for the enhancement of swine production; and (2) novel companion animal nutrition products. Tonisity is focused on creating positive physiological changes by addressing the issue of intestinal health of young animals, thus improving their overall health, leading to better lifetime performance. With respect to novel companion animal products, Tonisity is poised to become the first mover and market leader in a targeted nutrition approach for pets - which is a rapidly growing market across the globe. For more information on Tonisity's isotonic business, visit www.tonisity.com. For more information on Tonisity's companion animal business, visit www.doggyrade.com.
ON BEHALF OF THE BOARD
"Arie Halpern"
Arie Halpern
CEO and Chairman
Email: arie@tonisity.com
Forward-Looking Statements
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Tonisity's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.
The forward-looking statements and information in this press release include information relating to the business plans of Tonisity, including expansion in China and Taiwan, the processing of products in China and the development of new product lines in both the swine and companion animal product lines.
Such statements and information reflect the current views of Tonisity. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: Tonisity's ability to obtain regulatory approval to import its companion products from GACC, Tonisity's ability to raise capital to maintain its growth and business objectives, Tonisity's ability to negotiate and enter into binding agreements with counterparties in geographic markets that are part of its expansion plans, Tonisity's ability to operate in the Chinese market, changes in laws and regulations that could adversely affect Tonisity's business, growth or results of operations, Tonisity's ability to attract and retain customers and consumers and impacts of the COVID-19 pandemic.
There are a number of important factors that could cause Tonisity's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: limited business history of Tonisity; risks related to Tonisity's corporate strategy including that previous and future acquisitions do not meet expectations; disruptions or changes in the credit or security markets; results of operation activities; unanticipated costs and expenses, fluctuations in commodity prices, and general market and industry conditions; protection of Tonisity's intellectual property; disruption at any of Tonisity's facilities including as a result of the current COVID-19 pandemic; effect of public health crises, including the current COVID-19 pandemic; Tonisity's supply chain management; availability of suppliers of raw materials; limited or disrupted supply of key ingredients; the availability of key ingredients for Tonisity's products; failure to expand production capacity; effect of product innovation; failure to retain current customers and/or recruit new customers potential volatility of share price; no assurance of active market for shares; dividends; global financial conditions; the effect of product labelling requirements; price of raw materials; consumer trends; publication of inaccurate or unfavourable research and reports; management and conflicts of interest.
Tonisity cautions that the foregoing list of material factors is not exhaustive. When relying on Tonisity's forward-looking statements and information to make decisions, readers should carefully consider the foregoing factors and other uncertainties and potential events. Tonisity has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this press release represents the expectations of Tonisity as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Tonisity may elect to, it does not undertake to update this information at any particular time, except as required by applicable laws.
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1 https://agora.mfa.gr/infofiles/The%20Market%20for%20Pet%20Food%20Supplies%20and%20Services%20in%20China%20%20(2021)%20cn.pdf
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