GlobeNewswire Inc | Nov 12, 2021 03:37PM EST

November 12, 2021

VANCOUVER, British Columbia, Nov. 12, 2021 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC.(TSX-V: BABY)(OTCQB: BABYF) (FSE: 0YL) (Else or the Company), a food and nutrition company focused on developing novel plant-based infant and toddler nutrition, announcesthat it has granted an aggregate of 962,475 incentive stock options (collectively, the Options) to purchase common shares of the Company exercisable at a price of CDN$1.65 per common share for a period of five (5) years from the date of grant to certain directors, officers, employees and consultants. The Options are granted in accordance with the Companys 10% (ten) percent rolling stock option plan. The Options are subject to vesting schedules, of which 787,475 Options will be released equally each month over a 36-month period from the date of grant and 175,000 Options will be released equally each fiscal quarter over a 24-month period from the vesting commencement date. As a result of these stock option grants, the Company has 7,797,925 stock options issued, representing 7.48% of the currently issued and outstanding common shares.

About Else Nutrition Holdings Inc.

Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the 2017 Best Health and Diet Solutions award at the Global Food Innovation Summit in Milan. Else Plant-Based Complete Nutrition for Toddlers was recently ranked as the #1 Top seller in the baby and toddler formula category on Amazon. The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QX board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL. Elses Executives include leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Childrens Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Childrens Medical Center of Israel, Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium.

For more information, visit:elsenutrition.comor @elsenutrition on Facebook and Instagram.

Media ContactErin JundefBrilliant PRerinj@brilliantpr.com

For more information, contact:

Mrs. Hamutal Yitzhak, CEO, Co-Founder & DirectorELSE Nutrition Holdings Inc.E: hamutaly@elsenutrition.comP: +972(0)3-6445095

Mr. Sokhie Puar, Director of Else NutritionE: sokhiep@elsenutrition.comP: 604-603-7787

US Investor Relations Contact:

Lytham Partners, LLCMr. Ben ShamsianNew York | PhoenixE: shamsian@lythampartners.comP: 646-829-9701

TSX Venture Exchange

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.

Caution Regarding Forward-Looking Statements

This press release contains statements that may constitute forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as will, expect or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the Companys financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on managements perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that listing on the FSE will create additional liquidity and attract additional investors in the European market. Actual results may differ from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect managements expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.