Elevai Labs Highlights Global Distribution Partnership Overview

Contracts May Secure $4.9M Top Line Revenue Commitments

• Five international distribution agreements signed to date
• Cumulative contracted minimum purchase requirements of $4.9M in the first five years
• Up to five additional international distribution agreements in discussion
  

NEWPORT BEACH, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- ELEVAI Labs Inc. (NASDAQ: ELAB) (“Elevai” or the “Company”), a medical aesthetic company specializing in physician-dispensed skincare, announces significant strides in global distribution and highlights an overview of current agreements.

Elevai is excited to highlight five of its international distribution agreements which signifies significant strides in expanding our global presence. Our partnerships underscore a robust endorsement of our innovative skincare solutions and commitment to reaching diverse markets. Each agreement is tailored to leverage unique regional strengths, so that our cosmetic products meet a wide array of consumer needs and preferences worldwide.

Under these distribution agreements, our distribution partners will spearhead marketing efforts and establish dedicated sales forces, so that Elevai's products may effectively reach new markets. Furthermore, our distribution partners are charged with undertaking our product registration in their respective markets in order to facilitate seamless market entry and compliance.

Our five international distribution agreements secured by Elevai have a contracted cumulative minimum purchase requirement commitment of up to $4.9 million over the next five years. The substantial commitments of the distribution partners under these distribution agreements underscores the potential strength of our expanding global network.

Our distribution agreements support Elevai's commitment to delivering exceptional value to shareholders while establishing itself as a leader in the medical aesthetic industry. Investors and stakeholders can access detailed information about these developments, including previously filed news releases, on the company's website at ElevaiLabs.com/news.

Elevai also announces that it is actively negotiating five new distribution agreements, covering both international and domestic markets. These expected partnerships are projected to contribute an impressive $7.7 million in top-line sales over the next five years, which may further cement our position as an industry frontrunner. Management notes that these agreements are currently under negotiation and are not finalized, and there can be no assurance that they will be completed as proposed or at all, or that if completed that they will have a positive impact on Elevai’s business, revenues or profits.