Tag: Poda Lifestyle and Welness

Poda Completes Asset Sale to Altria

Photo: Poda Holdings
Poda Holdings has completed the sale of substantially all of the assets and properties used in the company’s business to Altria Client Services for a total purchase price of $100.5 million, subject to certain adjustments and holdbacks, pursuant to a definitive agreement dated May 13, 2022.
Pursuant to the Asset Purchase Agreement, Poda will change its name to Idle Lifestyle and its trading symbol to IDLE.X. The company expects to trade as an inactive issuer under the policies of the Canadian Stock Exchange.
“The completion of this sale represents the culmination of a tremendous amount of effort from the entire Poda team, and I am extremely proud of what we have accomplished,” said Poda Director, CEO and Chairman Ryan Selby in a statement.
I believe this transaction provides maximum value for the company and its shareholders, and I know our innovative technology is now in good hands with Altria.”
June 27, 2022
Poda to Change Name, Corporate Structure

Ryan Selby (Photo: Poda)
Poda Lifestyle and Wellness’ board of directors approved a proposal to change the company’s name from Poda Lifestyle and Wellness Ltd. to Poda Holdings Inc. The change remains subject to the approval of the Canadian Securities Exchange.
There is no consolidation of the company’s share capital in connection with the planned name change. The proposed name change will not affect the company’s share structure or the rights of the company’s shareholders.
In addition to the intended name change, the company also announced plans for a new corporate structure, whereby the company will create six strategic subsidiaries, each focused on specific growth areas of the company. The proposed names for the six subsidiaries are Poda (Tobacco), Poda (Alternatives), Poda (Therapeutics), Poda (THC), Poda (CBD) and Poda (Research and Development).
“This proposed name change is consistent with our business objectives and our long-term strategy,” said Poda CEO Ryan Selby in a statement. “Our valuable intellectual property has applicability across a wide-ranging scope of applications, and I believe the name Poda Holdings Inc. more accurately serves the overarching vision the board has for the company.
“In addition to the name shift, creating the six new subsidiaries will provide strategic focus and strong growth opportunities in each of the target opportunities. I look forward to sharing more information about our customized strategies for each subsidiary over the coming weeks.”
September 16, 2021
Biodegradable Filter Maker to Supply Poda

Photo: ASDF
Poda Lifestyle and Wellness has entered into a supply agreement with biodegradable filter manufacturer Greenbutts.
Greenbutts has developed a natural filter technology that was created to provide an alternative to the common nonbiodegradable cellulose acetate cigarette filter. Greenbutts created a natural, rapidly degrading cigarette filter using a proprietary blend of food-grade fiber materials including flax, cotton and manila hemp with no artificial compounds or chemical residues. The unique blend of materials is designed to allow for the same sensory experience and filter manufacturing run rates as acetate filters. Greenbutts filters will disperse in water within a few minutes and will degrade in compost within seven days as opposed to 10–15 years as is the case with traditional cellulose acetate filters.
“Poda is committed to ensuring that the company contributes to a brighter future for all of our stakeholders,” said Ryan Selby, Poda CEO, in a statement. “As CEO, I take this responsibility very seriously, and I am devoted to ensuring that Poda delivers industry-leading performance on our core principles of strong environmental management, responsible societal impacts and robust corporate governance. Pursuant to this commitment, I am very pleased to announce today that Poda has entered into a supply agreement with Greenbutts, one of the world’s leading manufacturers of biodegradable cigarette filters.”
“This supply agreement will provide the company with access to 100 percent biodegradable filters for use in our Beyond Burn Poda Pods. The inclusion of Greenbutts’ biodegradable filters into our already biodegradable and compostable Poda Pods allows Poda the ability to offer a completely biodegradable and truly compostable heat-not-burn product, something that has never been done in the heat-not-burn tobacco market. … We are thrilled to have secured this supply agreement.”
“We have spent the last 10 years relentlessly pursuing the perfect biodegradable cigarette filter,” said Tadas Lisauskus, co-founder and CEO of Greenbutts. “Now that our patented product is ready for commercialization, we are very pleased to have entered this supply agreement with Poda. Traditional cellulose acetate cigarette filters are among the single most commonly littered items globally, and we are committed to the goal of eliminating environmental pollution caused by improperly discarded cigarette butts. Greenbutts’ biodegradable filters are made from natural sources and quickly biodegrade in natural settings. Combining our proprietary biodegradable filters with Poda’s unique and proprietary biodegradable heat-not-burn cigarettes is surely a winning combination.”
August 19, 2021
Poda Commences Clinical Trials

Photo: Poda Lifestyle and Wellness
Poda Lifestyle and Wellness has started setting up the first clinical trials for its smoking cessation products.
“I have already initiated the process of setting up the first clinical trials related to the efficacy of Poda’s products as smoking cessation tools,” said Poda Chief Medical Officer Jagdeep Gupta, who joined the company in July, in a statement. “I am currently in the process of setting up a pilot study, which will give us a solid platform for developing strong and effective clinical trials.
“These clinical trials will be designed to result in the publication of level 1 evidence in respected medical journals globally if the data provides evidence. The pilot studies will also be designed to establish a scientific basis for the efficacy of Poda’s products as smoking cessation tools and additionally may provide Poda with access to research grants and other funds that can be used for additional studies, clinical trials and validation research.”
The company has also entered into an agreement with Command Marketing predominantly to develop Poda’s e-commerce platform and brand identity. As part of this branding campaign, Command Marketing will also provide investor relations services.
August 10, 2021
Poda Hires Chief Medical Officer

Photo: Poda Lifestyle and Wellness
Poda Lifestyle and Wellness has appointed Jagdeep Gupta as chief medical officer.
“I am very pleased to have received approval from the board to enter the medical device market and to create the position of chief medical officer for Poda,” said Ryan Selby, CEO of Poda, in a statement. “Quitting smoking can be difficult, and the addition of Dr. Gupta as chief medical officer will help Poda to potentially develop medically approved products and treatment strategies designed to provide adult smokers with the tools they need to successfully quit smoking.”
As chief medical officer, Gupta will be responsible for designing and implementing clinical trials designed to test the efficacy of Poda’s smoking cessation products. In addition, Gupta will also help coordinate the development of additional products and treatment strategies across a wide range of inhalable therapeutic molecules as well as coordinating and overseeing the application process for Poda’s products to achieve certification as approved medical devices for smoking cessation or the inhalation of therapeutic molecules.
“I am very pleased to be joining the Poda team as chief medical officer,” said Gupta. “As a practicing medical doctor, I have numerous patients who desperately want to quit smoking, and in my experience, existing smoking cessation products have not worked as well as I would have hoped. I am especially excited to study and develop a smoking cessation technology that not only uses a tapering nicotine dose that is very precise but also addresses the oral fixation element at the same time.”
July 15, 2021
Former Juul Executive Joins Poda Lifestyle

Photo: Poda Lifestyle and Wellness
Former head of corporate affairs for Juul Labs Nicholas Kadysh has joined Poda Lifestyle and Wellness as a member of the global advisory board.
With over a decade of experience as a public affairs and regulatory expert, Kadysh has led government relations and regulatory departments for a number of large corporations, including acting as head of corporate affairs for Juul Labs, as government affairs and public policy leader for General Electric Canada and as director of public affairs for Red Bull Canada. Kadysh is currently the founder and CEO of PharmAla Biotech.
Prior to his work in the corporate sector, Kadysh gained a deep understanding of government as a campaign and legislative staff member in multiple levels of government, most recently directing the outreach department of the Office of the Leader of the Opposition at Queen’s Park in Toronto. He has also worked at the Canadian Parliament as a policy advisor.
Kadysh is trilingual (English, French and Russian) and is a graduate of Queen’s University. He is active in nonprofit and community initiatives in Toronto, including fundraising for Toronto East General Hospital and as a member of the board for Yonge-Dundas Square.
“I believe that Poda is well poised to gain significant market share in the rapidly growing heat-not-burn market,” said Kadysh in a statement. “With my vast experience in public affairs and as a regulatory expert, I look forward to helping guide Poda as they continue their global expansion. Entering highly regulated markets requires careful planning and skillful execution, and there are many potential pitfalls to be avoided.”
“Having worked closely with Nick at Juul Labs Canada, I can personally attest to the skill and expertise that Nick brings to the table,” said Michael Nederhoff, previous president of Juul Labs Canada, who joined Poda’s global advisory board in early July. “Nick has a wealth of regulatory experience across various categories and in multiple countries, which will be invaluable as we scale the business.”
July 7, 2021
Nederhoff joins Poda Lifestyle and Wellness

Photo: Poda Lifestyle and Wellness
Former Juul Canada President Michael Nederhoff has joined Poda Lifestyle and Wellness as a member of the global advisory board and consultant to Poda’s management team and the company’s board. As part of the consulting agreement, Nederhoff will be assisting Poda with its global expansion.
At Juul, Nederhoff was instrumental in dealing with commercial and regulatory aspects of the e-cigarette market. In addition, Nederhoff was previously responsible for launching Red Bull and CytoSport into Canada, and he is currently the CEO of Shelter.
“Poda’s revolutionary heat-not-burn product is exactly what I was looking to get behind to support a smoke-free future,” said Nederhoff in a statement. “There are more than 1.3 billion smokers in the world, and reduced-risk smoking products are essential to the longevity of this large population. I look forward to using my extensive experience in launching major CPG products to assist Poda as they roll out their global strategy.”
“Bringing Mr. Nederhoff onto the Poda team marks the addition of yet another seasoned industry-specific executive to our global advisory board, and we now have a well-rounded slate of proven leaders,” said Poda CEO Ryan Selby.

Bringing Mr. Nederhoff onto the Poda team marks the addition of yet another seasoned industry-specific executive to our global advisory board, and we now have a well-rounded slate of proven leaders.
Ryan Selby, CEO, Poda Lifestyle and Wellness
“Mr. Daniel Chen brings phenomenal experience and expertise in the global manufacturing and distribution realm and has worked with some of the biggest tobacco companies globally, including Japan Tobacco International, Imperial, British American Tobacco, Godfrey Philips India, Philip Morris International and China National Tobacco.
“Jon Ruiz spent over 15 years as a top-level executive at Philip Morris International—one of the largest tobacco companies in the world and the current leader in the global heat-not-burn market with their IQOS product.
“Mr. Michael Nederhoff is an expert in the fast-moving consumer goods market and was the Canadian president of the most successful e-cigarette company in the world (Juul). These individuals have joined the Poda team because they believe in the massive potential for Poda to capture substantial market share in the rapidly growing global heat-not-burn market. We already have an incredible product in Poda and our Beyond Burn Poda Pods, and now we are continuing to build an incredible team of proven professionals to support our global expansion goals. This is another major step toward our goal of becoming a major player in the global heat-not-burn market” stated Selby.
Pursuant to the consulting agreement, Poda has granted 485,000 restricted share units to Nederhoff at a price of $1.39.
July 2, 2021
Revolutionary HnB Device Set for Launch

Photo: Podya Lifestyle and Wellness
After six years of development, Poda Lifestyle and Wellness is ready to bring its revolutionary heat-not-burn (HnB) product to the masses, according to company founder and CEO Ryan Selby. In a letter to shareholders, Selby detailed the company’s recent accomplishments and shared his plans.
Poda was founded in January 2015 with the vision of creating a superior HnB product. The company set out to address a major pain-point in all HnB systems: cleaning. After six years of designing and perfecting the technology, it came up with a product that delivers a robust, flavorful and consistent user experience, according to Selby. “Poda is now essentially the only company in the world that can make a closed-ended HnB cigarette,” he says. Its Beyond Burn pods have been patented in more than 65 countries.
In addition, the company developed a heat-tolerant biodegradable material made from the cell walls of sustainably harvested plants. “This naturally derived and low-cost material allows us to produce our patented Beyond Burn Poda Pods not only incredibly efficiently but also in an ethical and sustainable manner,” says Selby. Poda has filed for patent protection for the proprietary biodegradable plant cellulose materials used to make its closed-ended HnB cigarettes and the proprietary methods for manufacturing them.
The company’s tobacco-free Beyond Burn Poda Pods contain a proprietary blend of tea leaves and synthetic nicotine that delivers the satisfaction and sensory experience of ordinary smoking without the smoke and without the cleaning.
Recently, Poda executed a binding letter of intent with ESON with the intent of launching its products in China. Earlier this month, tobacco industry veteran Juan Manuel (“Jon”) Ruiz joined Poda’s strategic advisory board. A key top-level executive at Philip Morris International, Ruiz was around during the time when PMI was internally developing its heat-not-burn products. “The experience and expertise that Jon brings from the fast-moving consumer goods market is of exceptional value to Poda,” said Selby.

We are now ready to scale our production capacities to virtually any production volume.
Ryan Selby, CEO, Poda
Less than two months ago, Poda listed its shares on the Canadian Securities Exchange and the Frankfurt Securities Exchange, and the company is currently waiting for final approval to have its shares listed on the OTCQB exchange in the U.S. Down the road, the company aims to “uplist” to the NASDAQ and other major global exchanges, according to Selby.
Meanwhile, Poda’s pilot manufacturing plant is fully operational and is turning out over 400,000 closed-ended HnB cigarette units per month. “We built this pilot facility to prove out each of our manufacturing technologies, and I am pleased to report that we are now ready to scale our production capacities to virtually any production volume,” said Selby.
Over the coming months, Poda will be aggressively pursuing distribution and white-labelling opportunities with carefully selected partners in strategic locations around the globe.
“As CEO, it is my responsibility to lead Poda toward our goal of becoming a major player in the global heat-not-burn market,” said Selby. “I know we have a fantastic product, but that on its own is not enough. We must make smart choices and take calculated risks to grow the company as quickly and sustainably as possible.”
June 9, 2021
Poda and Eson Pursue Partnership

Photo: Poda Lifestyle and Wellness
Poda Lifestyle and Wellness and Shenzhen Eson Technology Co. have signed a binding letter of intent to facilitate a joint development agreement, whereby Poda will join Eson’s existing distribution network in Europe and Asia where Eson is currently selling over 50 million units per month.
Poda has developed and patented a heat-not-burn (HnB) platform while Eson has developed a patented proprietary blend of tobacco-free products that it currently sells through the brand Neafs.
“We are incredibly excited to partner with Eson, who is recognized as one of the leading manufacturers of electronic cigarette devices and more recently as one of the global leaders in tobacco-free heat-not-burn products,” said Ryan Selby, CEO of Poda, in a statement.
“Daniel Chen and his team at Eson are currently filling and distributing millions of Neafs products per month into the Chinese market, providing us with tremendous opportunities to scale. There are over 400 million adult smokers in China, and we believe that this partnership with Eson will provide us with a fast-track opportunity to rapidly develop our market share in the Chinese market,” said Selby.
Eson has designed numerous electronic nicotine-delivery systems and has licensed its IP to some of the biggest tobacco companies in the world. In addition, Eson has served as an original equipment manufacturer for some of the biggest tobacco companies globally, including Japan Tobacco International, Imperial, British American Tobacco, Godfrey Philips India, Philip Morris International and China National Tobacco.
“Poda has developed an incredible HnB platform, and their zero cleaning pods offer consumers a hassle-free HnB product that delivers consistently great results, day after day” said Daniel Chen, CEO of Eson. “Additionally, the vapor is flavorful and robust, offering cigarette-like satisfaction to discerning adult smokers.”
This partnership will provide us with a fast-track opportunity to rapidly develop our market share in the Chinese market.
Ryan Selby, CEO, Poda
“We are already selling over 50 million Neafs sticks per month and are currently expanding our production facilities to produce over 250 million Neafs sticks per month, which should be completed within the next 60 days. Since we launched the Neafs products in October 2020, the demand for Neafs products has been overwhelming. We are extremely excited to offer the Neafs by Poda products to our existing distribution channels, and we anticipate tremendous success with the Neafs by Poda products.”
June 2, 2021