Not long before this puppy turns into a big dog Joint Venture...

Not long before this puppy turns into a big dog


Joint Venture with Nadja Foods LLC
Our U.S. subsidiary
Litefood Inc. (“Litefood”) formed a 51
-
49 joint venture company, Holista Foods, with Nadja Foods
LLC, to distribute our low
-
GI product in North America.
Holista Foods, which has food manufacturing operations in the U.S. and Canada, is run by Nadja Piatka
as CEO.
An industry veteran for more than 23 years, Nadja Piatka heads Nadja Foods which supplies healthy snacks and
desserts to the food service industry, restaurant chains and retail stores under private label and brand products.
Customers have included:
Subway Restaurants®, McDonald’s®, Sodexo®, Wegmans®, Price Copper, Tops, and
more. She made her name with low
-
fat muffins which has been an ever stay on the McDonald’s Canada menu for
23 years. Nadja Piatka is very media
-
savvy and has appeared on The Opra
h Winfrey Show.
(

)
On 21 October 2016, Holista Foods announced that it had signed a research and development collaboration with
Wing’s Food
Products
–
a major North American noodle manufacturer
–
to develop the world’s first low
-
GI noodles.
Holista Foods is also in discussions with Veripan to exclusively distribute Panatura®, the No. 1 selling sourdough in
Europe, in North America.
North Amer
ica is well known to be the home of fast
-
food chains and entering this market will present opportunity for
the Group to generate income from this area in the near future. (
www.holistafoods.com
).
Other Food
Ingredients
Having achieved significant progress with our GI reducer, Holista is working to develop its
low
-
GI formula for other
food applications such as sugar. Subsequent to the financial year end, the Group announced on 6 January 2017
that it is collab
orating with 2016 Nobel Prize n
ominee,
Daryl Thompson, to file a patent for the world’s first low
-
GI
sugar made from all
-
natural ingredients.
The low
-
GI sugar formula is being refined before testing at the world renowned GI Labs in Toronto for final vali
dation.
As the product is made from natural ingredients, it is unlikely to face regulatory hurdles. Holista expects to launch
the product before June 2017.
Following this, the Group will also begin developing its low
-
sodium salt.