Toronto, Ontario--(Newsfile Corp. - September 29, 2023) - Red Rock Life Sciences (RRLS), an innovator in creating, commercializing & distributing advanced beverage solutions.
In a significant industry milestone, Red Rock Life Sciences is pleased to announce its first of a series of wholesale transactions of de-cocainized coca essence to a premium tequila brand for formulary development. This transaction is emblematic of Red Rock Life Sciences' acumen in providing coca-based product innovation and signifies our pivot into the Consumer Packaged Goods (CPGs) spirits sector.
The global tequila market is on an upward trajectory, expected to grow from USD 10.43 billion in 2022 to USD 15.57 billion by 2029, with a CAGR of 5.89%. This growth is fueled by a rising consumer interest in innovative and exotic flavours.
Leveraging this market momentum, Red Rock Life Sciences aims to disrupt the tequila industry by introducing proprietary formulations that incorporate the unique biochemical properties of de-cocainized coca essence. "Our formulations will not merely be an extension of our product line, but a strategic diversification that aligns with consumer preferences for premium spirits," stated Andrew Lougheed, CEO of Red Rock Life Sciences.
As the spirits industry, particularly the tequila market, continues to grow and innovate, Red Rock Life Sciences is well-positioned to become a key player. The company plans to leverage its expanding expertise in a range of coca-based essence and extracts to develop a unique lineup of flavourful formulations for spirits and mocktails, meeting the consumer demand for high-quality and innovation.
About Red Rock Life Sciences:
Red Rock Life Sciences is a pioneer in coca-based product development, committed to delivering high-quality, sustainable solutions. The company's strategic expansion into the spirits industry is aligned with its mission to set new standards in consumer experiences, leveraging the exceptional taste profile found in the coca plant.
For more information and to stay updated on our latest developments, please visit RRLS.ca.
SOURCE: Red Rock Life Sciences
For Further Information:
Investor and Media Inquiries:
Max Walters
Email: ir@rrls.ca
Forward-Looking Information and Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "will" or "continue", or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including but not limited to adverse market conditions and risks inherent in the Company's business in general.
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