Avrio Ventures Invests in Manitoba Harvest to Support Its Rapid Growth
WINNIPEG, MANITOBA--(Marketwire - April 17, 2009) - Avrio Ventures announced today that it has closed a Series A round investment into Manitoba Harvest. ("Manitoba"). Avrio's investment will support Manitoba's rapid growth in current and new channels of distribution as well as the company's science-based research approach to new product development.
Hemp food and supplements and functional foods containing hemp derived nutraceuticals are among fastest growing categories in the natural products industry. Hemp oil, extracted from hemp seed, is one of the plant kingdom's richest sources of essential fatty acids. As one of the most nutritious food oils for humans, it contains the essential fatty acids Omega-3 and Omega-6 as well as amino acids and antioxidants. Hemp foods have health benefits ranging from the prevention or attenuation of diabetes, cancer, lupus, asthma, rheumatoid arthritis, depression and hypertension. The potential role of essential fatty acids in growth and development as well as diseases like coronary heart disease is a fast growing area of research.
"We are extremely pleased that Avrio Ventures has chosen to invest in Manitoba Harvest. Their understanding of vertically integrated food technology companies, the nutraceutical and functional food industries, and their unique regulatory requirements, will help our company to capitalize on the multiple opportunities we see in the market," said Mike Fata, CEO of Manitoba. "There continues to be a growing demand by consumers for hemp derived nutraceutical and functional foods products including protein that offer scientifically proven health benefits which are of high quality and based from non-chemical, natural ingredients."
"Manitoba has a proven track record of innovative product development and of bringing to market the highest quality hemp based nutraceutical and functional food products. They are the main supplier and market maker for these products and work in concert with consumer products manufactures to create unique products that compliment and extend their brand portfolios," commented Mr. Jim Taylor, Managing Partner of Avrio Ventures. "The company is well positioned to extend its leadership in the natural functional foods and nutraceutical industries."
About Avrio Ventures Management Corporation
Avrio Ventures is a venture capital firm that supports the development of Canadian commercialization and growth stage industrial bio-products, nutraceutical ingredients and food technology companies into world-class organizations.
www.avrioventures.com.
About Manitoba Harvest.
Manitoba is an innovative vertically integrated company that specializes in creating and manufacturing nutraceutical and functional food products from Hemp under its own brand as well as supplying other manufacturers of leading consumer based health product offerings.
http://www.manitobaharvest.com/index.asp
For more information, please contact
Avrio Ventures Management CorporationJim Taylor
Managing Partner
(403) 215-5490
Email: jtaylor@avrioventures.com
or
Avrio Ventures Management Corporation
340-2618 Hopewell Place N.E.
Calgary, Alberta T1Y 7J7
Website: www.avrioventures.com
or
Fresh Hemp Foods Inc.
Mike Fata
(204) 953-0236
Email: mike@manitobaharvest.com
or
Fresh Hemp Foods Inc.
69 Eagle Drive
Winnipeg, Manitoba R2R 1V4
