Food additives group LeanLife Health Inc (CVE:LLP) says equipment needed to produce its omega 3 products will be delivered soon, sending shares slightly higher.
The main item is a BioCube processing plant, which, with associated apparatus, is estimated to cost $800,000.
So far LeanLife has spent $630,000.
The company has also acquired lab and testing equipment for essential testing of raw materials and finished product, it said.
Additional equipment is being ordered and will be set up in a new lab.
The firm has leased around 4,000 sq ft of industrial space in South Vancouver, where it will spend an estimated $350,000 on improvements, security systems and initial supplies.
The production capacity of the equipment is estimated as at least 2.5 mln litres of product a year, the firm added.
It’s a busy period for the firm.
Last week it struck a sales agreement with RD Heritage Group LLC for its omega 3 products.
RD Heritage will market and sell the company’s products and assist with marketing strategies.
It will also carry out market analysis to define a global sales strategy and appoint distributors to increase sales opportunities.