BIOHARVEST SCIENCES REPORTS DOUBLE-DIGIT Q4 SALES ORDERS GROWTH IN FIRST FULL YEAR OF VINIA SALES

January 6, 2022
  • 17% quarter-over-quarter growth with record VINIA® global sales orders in Q4 of USD 825k
  • 485% year-over-year growth with total sales orders of USD 2.4M in 2021
  • Continued success in VINIA® US pilot with USD 325k in sales orders in Q4, a 27% growth over Q3

VANCOUVER, CANADA, AND REHOVOT, ISRAEL, January 6, 2022 – BioHarvest Sciences Inc.(“BioHarvest” or the “Company”) (CSE: BHSC) today announces another strong quarter of sales  growth for VINIA®, its nutrient-rich red grape supplement created through the Company’s proprietary BioFarming technology, in both Israel and the United States.  The USD 825k of sales orders in Q4 from its direct-to-consumer ecommerce business represents a 17% increase over Q3 and are triple the sales orders from the same quarter in 2020. VINIA® sales orders in 2021 amounted to USD 2.4M, a nearly sixfold increase over 2020.

In Israel, where VINIA® is becoming synonymous with cardiovascular health and wellness, BioHarvest reported record sales orders of USD 501k in Q4, representing growth of 11% over Q3 and 84% over Q4 2020 – and total sales orders in 2021 were USD 1.73M, representing a 325% year-on-year growth.

Q4 sales orders in the ongoing US pilot program, launched in May 2021, totaled USD 325k, representing 27% growth over Q3 2021 and yielded a total sales order figure of USD 652k for the year.

Moreover, sales and marketing metrics in the US point clearly to increasingly robust demand. Approximately 83% of 2020 sales and 89% of orders at www.vinia.com are derived from subscriptions packages with approximately 70% of subscriptions accounting for recurring payment packages of 3 months or more, demonstrating a significant opportunity to build a scalable, sustainable, and profitable business.

To continue to drive the company’s leadership in global e-commerce and marketing, BioHarvest has hired Jared Turner as VP of Global E-Commerce. Turner, who joined in December, brings over 15 years of relevant leadership experience in building end-to-end Nutraceutical e-commerce businesses. Under his stewardship, the commercial team is poised to achieve further sales growth in VINIA® as well as other products that will be introduced in 2022, including Cannabis.

I am very proud of the sales results achieved in the last quarter and for the entire year,” said CEO Ilan Sobel.  “Combined with the scientific and technological accomplishments we posted, 2021 was an outstanding year. The sales and marketing team has demonstrated unique capabilities to successfully grow the business.  We eagerly look forward to scaling our US pilot once our technology transfer to our new 20 ton/year VINIA® manufacturing facility is successfully completed, enabling us to reach optimal production levels. I anticipate another year of record sales in 2022, positively impacting the health and wellness of tens of thousands of satisfied customers.

BioHarvest further expanded the applicability of its proprietary technology in 2021, which allows it to harvest nutrients and active ingredients without growing plants, with the announcement in December that the Company had developed the capability to produce a meaningful amount – 10 kilograms – of full-spectrum Cannabis biomass without growing the plant itself.

In November, BioHarvest appointed renowned Canadian astronaut Chris Hadfield to its board of advisors as part of a drive to leverage its biotech technology platform to provide essential nutrition and active ingredients for space exploration and potential settlement in space.

About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.

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About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. BioHarvest is currently focused on leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions, within two major business verticals – nutraceutical health and wellness products such as dietary supplements, and development of plant cell-based Active Pharmaceutical Ingredients (API’s) that focus on specific medical indications.

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