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Press Release

Smart for Life Appoints Nutraceutical Industry Veteran Heather Granato to the Company’s Advisory Board
Smart for Life Appoints Nutraceutical Industry Veteran Heather Granato to the Company’s Advisory Board 150 150 Smart for Life, Inc.

Founder of Women In Nutraceuticals (WIN), Former VP of Numerous Industry Media Brands, and 30-Year Veteran of the Nutraceutical Industry Joins Highly Diversified Team of Advisors 

Miami, FL – March 21, 2023 (Globe Newswire) – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a global leader in the Health & Wellness sector marketing and manufacturing nutritional supplements and foods, announced today that it has appointed a 30-year veteran of the nutraceutical industry, Heather Granato, to the Company’s advisory board. 

“Heather Granato joins Smart for Life with decades of industry experience, a career in journalistic outreach, content creation and marketing initiatives, as well as a passion for promoting equality and representation in the nutraceutical industry,” said Darren Minton, CEO of Smart for Life. “We are excited to have Heather join our advisory board and strongly believe that she will bring a unique and committed sense of purpose and perspective to the team.”

Ms. Granato is a 30-year veteran of the natural products industry, most recently serving as Vice President of Partnerships & Sustainability for Informa Markets’ Vitafoods and Food Ingredients brands, following her tenure as VP Content with Vitafoods and SupplySide. She has been a presenter at events including SupplySide, Vitafoods, Natural Products Expo, the Natural Gourmet Show and the Folio: Show. Her publishing experience includes Natural Products Insider, Food Product Design, Country Living’s Healthy Living, Natural Foods Merchandiser, Delicious Magazine and WomenOf.com. She was named to the FOLIO: 100 list of top media professionals in 2018; received the 2014 Visionary Award and the 2018 Journalistic Excellence Award from the American Herbal Products Association (AHPA); and was recognized by the United Natural Products Alliance (UNPA) in 2023 with its Ignition…Liftoff Award. Granato graduated magna cum laude from the University of Richmond, Virginia, in 1992 with a bachelor’s degree in journalism.

“Discovering new ways to bring people together in the pursuit of health, wellness, and personal growth is incredibly important to me and I am pleased to join the Smart for Life team as part of that endeavor,” said Ms. Granato. “I’ve been fortunate to have had the opportunity to foster connections and collaborate with amazing colleagues through the years to grow our industry. In addition, my passion for supporting women and equality in the nutraceutical industry has given me the unique opportunity to do even more to give back and ensure the continued vibrance and innovation that comes when we recognize the possibilities in all of us.” 

In addition to her significant industry experience, Ms. Granato is also the co-founder and President of Women In Nutraceuticals (WIN).  WIN is a 501c3 non-profit organization focused on unlocking the professional and personal potential of women. The organization is igniting a movement to build support for women across the nutraceutical supply chain to help increase the percentage of women holding leadership roles, funding for female-led businesses, and women’s participation in research. To learn more about WIN, please visit: https://womeninnutraceuticals.org/ 

“There is no denying the significant positive impact that Heather’s many initiatives are having on the nutraceutical industry,” Mr. Minton continued. “Our executive team is looking forward to collaborating with Heather and our advisory board members to help us shape the direction of our future product offerings and growth opportunities at Smart for Life.”

About Smart for Life, Inc. 

Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on Health & Wellness. Structured as a publicly held holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company has also commenced the execution of a restructuring plan including recapitalization of the Company with equity and debt financings, the sale of certain non-performing assets, the potential sale and leaseback of the Company’s 18,000 sq. ft. Doral manufacturing facility and the recent liquidation of the Company’s senior debt facility.  In addition, the Company is converting certain debt obligations to equity to materially improve the Company’s balance sheet. For more information about Smart for Life, please visit: www.smartforlifecorp.com. 

Forward-Looking Statements

This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Disclaimer

The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.

Investor Relations Contact

Crescendo Communications, LLC

Tel: (212) 671-1021

SMFL@crescendo-ir.com

Smart for Life Announces Completion of Audit for Pending Acquisition  
Smart for Life Announces Completion of Audit for Pending Acquisition   1920 1080 Smart for Life, Inc.

Acquisition Expected to Contribute More than $8 Million of Annualized Revenue and Positive Net Income

Miami, FL – January 5, 2024 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, today announced that it has completed the audit for the planned acquisition of a premier eCommerce nutraceuticals company with operations in North America. The acquisition is expected to close within the next several weeks and is subject to financing and customary closing conditions.

“We have now completed the audit for our acquisition and expect to close in early 2024,” stated Darren Minton, CEO of Smart for Life. “Once closed, this will be one of our largest acquisitions since going public in 2022.  This eCommerce company is currently generating estimated revenue in excess of $8 million and its operations are net income positive.”

“On completion of the acquisition, we expect to realize an additional economic benefit when we migrate the contract manufacturing of the acquisition to our facilities at Smart for Life,” added A.J. Cervantes, Jr., Executive Chairman at Smart for Life. “The acquisition’s management team has created a world class brand with a deep and loyal customer base and we believe that Smart for Life can monetize that customer base with substantial brand extensions. We look forward to announcing additional details shortly when the acquisition closes.”

Completion of the acquisition is subject to a number of conditions including successful financing.  This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Smart for Life.

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Disclaimer
The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

BACK TO NEWSROOM

Smart for Life Appoints Alicia R. Crockett to the Company’s Advisory Board
Smart for Life Appoints Alicia R. Crockett to the Company’s Advisory Board 1920 1080 Smart for Life, Inc.

Entrepreneurial Western Herbalist, Innovative Health & Wellness Consumer Product Formulator, and Proven Healthcare Sector Business Builder Joins Highly Diversified Team of Advisors

Miami, FL – September 15, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that it has appointed Alicia R. Crockett to the Company’s advisory board.

“Alicia’s deep well of experience managing, training, and guiding individuals and teams across a broad array of diverse industries including healthcare, marketing, consumer product innovation, and education stands to bring significant expertise to our burgeoning advisory board,” said Darren Minton, CEO of Smart for Life. “Every aspect of Smart for Life’s business is strengthened from the collective and diverse experience found within our growing team of advisors. We are pleased to have Alicia join our organization as we continue exploring emerging opportunities within several fields that overlap with her decades of experience.”

“I’m passionate about people and nature, and I am in constant search of discovering new ways to bring the two together in pursuit of health, wellness, and personal transformation while remaining in positive relationship with the world around us,” said Ms. Crockett. “Whether utilizing my expertise as a certified Clinical Western Herbalist and teacher to formulate all-natural Health & Wellness products for high-end national brands or directing my organizational and leadership skills into building a new clinical business from inception to millions of dollars in revenue, I am always seeking new ways of improving people’s lives through innovation in healthcare and the natural health and wellness sectors.”

“We count on the industry expertise of our seasoned advisors to illuminate new trends both in products and markets,” Mr. Minton continued. “Our executive team and directors look forward to collaborating with Alicia and the other members of the advisory board to help us shape the direction – and maximize the potential for the success – of Smart for Life’s future product offerings.”

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Disclaimer
The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

BACK TO NEWSROOM

Smart for Life Appoints Cindy Brynteson, RN, to the Company’s Advisory Board
Smart for Life Appoints Cindy Brynteson, RN, to the Company’s Advisory Board 1920 1080 Smart for Life, Inc.

Prominent Health & Wellness Sector Thought Leader and Author

Miami, FL – August 31, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that it has appointed Cindy Brynteson to the Company’s advisory board.

“Cindy has devoted her life to nutrition and fitness and is an acknowledged leader and teacher in the field,” stated Darren Minton, CEO of Smart for Life. “As a successful author, her recent book, ‘You Can Live Like This,’ represents a definitive guide to weight loss and maintaining a healthy, balanced lifestyle. Cindy has established herself as leader in the business and health communities, teaching Health & Wellness for almost 50 years.”

“I am excited to join the Smart for Life advisory board with its diverse background of members and outstanding portfolio of products,” said Cindy Brynteson. “Throughout my career in the Health & Wellness industry, one of my core principles is investigating the underlying root causes of health issues and supporting the body to repair itself naturally, as opposed to just treating symptoms. I look forward to working with the Smart for Life team and continuing to spread the benefits of healthy living.”

Mr. Minton concluded, “Smart for Life benefits greatly from the collective and diverse experience found within our advisory board. Not only does the advisory board provide strategic insights based on the unique backgrounds of its members, but the dynamic collaboration supports our management and Board of Directors as we execute on our mission and explore emerging opportunities. Cindy brings a significant amount of experience through her years of advancing health and balance in all aspects of life and we are pleased to have her join our team.”

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Disclaimer
The information provided in this press release is intended for general knowledge only and is not a substitute for professional medical advice or treatment for specific medical conditions. Always seek the advice of your physician or other qualified health care provider with any questions you may have regarding a medical condition. This information is not intended to diagnose, treat, cure or prevent any disease.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

BACK TO NEWSROOM

Smart for Life Appoints Stuart Benson, JD to the Company’s Newly Launched Advisory Board
Smart for Life Appoints Stuart Benson, JD to the Company’s Newly Launched Advisory Board 1920 1080 Smart for Life, Inc.

Benson Provides Deep Nutraceutical Industry Business Experience to the Highly Diversified Board

Miami, FL – August 24, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, announced today that it has appointed Stuart Benson, JD to the Company’s recently formed high-level advisory board.

“Stuart has a long and successful career in a broad array of businesses, with the last 20 years focused on the nutraceutical industry and more specifically the growth and success of Ceautamed Worldwide, Smart for Life’s most recent acquisition,” stated Darren Minton, Smart for Life’s CEO.

“Throughout our time together, I’ve gotten to know Darren Minton, the Company’s CEO, A.J. Cervantes, the Company’s Chairman and Alan Bergman, the Company’s CFO and have developed deep respect for the entire Smart for Life team,” said Mr. Benson. “The Company is not only aggressively ramping up its M&A activities, it is now targeting significantly larger and more profitable companies. For these reasons, I’m excited to join the Company’s advisory board.”

Mr. Minton concluded, “A highly diversified advisory board such as this supports our management team in gaining new insights and advice to solve business problems or explore new opportunities. The advisory board has not been formed to make important company decisions, but to provide strategic thinking and analysis to support the management and the Board of Directors.”

About Stuart Benson, JD
Mr. Benson is a former principal of Ceautamed Worldwide, LLC, owner of the Greens First line of brand products, Smart for Life’s acquisition completed on July 28, 2022. Mr. Benson was also the Chief Executive Officer of Wellness Watchers Global, LLC. Mr. Benson served as the Chairman and Chief Executive Officer of Custom Food Concepts, Inc. from 1997 to 2001, a company engaged in real estate and franchising. He also served as Executive Vice President of Vital Living Inc. in 2001 and 2002 and served as its Chief Executive Officer since 2005. He served as Chairman, President and Chief Executive Officer of Nathan’s Famous, Inc. and the Great Earth Vitamin Store chain. During his tenure at Nathan’s Famous, the company expanded from 14 units to more than 300, including locations at interstate highways and airports. During Mr. Benson’s tenure at the Great Earth Vitamin Store chain, it grew to approximately 150 full-service vitamin retail stores throughout the U.S. and became the second largest vitamin store in the U.S.

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

BACK TO NEWSROOM

Smart for Life Announces Q2 2023 Financial Results and Provides Business Update
Smart for Life Announces Q2 2023 Financial Results and Provides Business Update 1920 1080 Smart for Life, Inc.

Balance Sheet Transformation Includes Conversion of Over $5.8 Million Debt to Equity

Stockholders’ Equity Improves from Deficit of $2.4 Million to Equity of $4.6 Million

Loss for the Six-Month Period Decreases from $20.0 Million to $8.5 Millon

Miami, FL – August 23, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, today provided a business update and reported financial results for the three months ended June 30, 2023.

“We continue to advance our operations and have made significant progress growing our brands. During the quarter, we launched a new line of Sports Illustrated protein bars. We made these bars to address a growing demand for clean and nutritional products. The bars are non-GMO, cold-pressed, with no sucralose and no preservatives, and include options that are gluten-free. We look forward to launching them in select markets this quarter. Recently, we entered into a distribution agreement with Boxout, a national distributor of medical, rehabilitation, and health & wellness products, for nationwide distribution of our proprietary Sports Illustrated Nutrition products through Boxout’s distribution channels to sports and fitness chains across North America. We look forward to working with Boxout and leveraging their broad distribution network.”

“We also executed a comprehensive Canadian distribution agreement with Two Hands Corporation for our nutritional food products. We expect this agreement to significantly expand our geographic reach by adding additional distribution partners and retail channels in Canada. Expansion of our sales in both domestic and international markets is a key component of our growth strategy as part of our stated goal of reaching $100 million in revenue. Although our revenues decreased in Q2 2023, due to cash constraints and fulfillment delays, we are confident that as we execute on the growing sales pipeline and purchase orders, our sales should rapidly increase.  Notably, during the quarter, we enhanced our balance sheet, by converting over $5.8 million of debt to equity. We also converted $1.2 million of deferred executive and board compensation to equity as well.”

“We continue to execute on our “Buy and Build” strategy by acquiring cash flow positive companies at attractive multiples. Towards that end, we expect to close the eCommerce nutraceuticals company acquisition in the next several weeks. The target is currently generating estimated revenue in excess of $10 million, with over $2 million of EBITDA for the trailing twelve months. Overall, we believe we are well positioned to achieve strong revenue growth and drive significant value for our shareholders.”

Financial Results
Revenue was $2.3 million for the three months ended June 30, 2023, compared to $4.3 million for the three months ended June 30, 2022. The decrease in revenue was primarily due to a delay in financing, which led to a temporary delay in production. Gross profit was approximately $742 thousand for the three months ended June 30, 2023, compared to $1.8 million for the same period last year. Net loss attributable to common shareholders was $4.2 million for the three months ended June 30, 2023, as compared to $3.5 million for the three months ended June 30, 2022.

Revenue was $4.7 million for the six months ended June 30, 2023 compared to $8.7 million for the six months ended June 30, 2022. Gross profit was $1.6 million for the six months ended June 30, 2023 compared to $3.3 million for same period last year. Net loss attributable to common shareholders was $8.5 million for the six months ended June 30, 2023 compared to $20.2 million for same period last year.

EBITDA and Adjusted EBITDA
The Company reported Adjusted EBITDA loss of $2.6 million in Q2 2023, as compared to Adjusted EBITDA loss of $1.9 million in Q2 2022. For the six months ended June 30, 2023, the Company reported Adjusted EBITDA loss of $4.5 million versus an Adjusted EBITDA loss of $4.5 million for the same period last year. The Company defines EBITDA as earnings before interest, taxes and depreciation and amortization. The Company defines Adjusted EBITDA as earnings before related party consulting fees, stock-based compensation, stock issued for services, bad debt expense, IPO related expenses, impairment of intangible assets, and gain on debt extinguishment.  Both EBITDA and Adjusted EBITDA are not measures of performance calculated in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), and should not be considered in isolation of, or as a substitute for, earnings as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. The Company believes the presentation of EBITDA and Adjusted EBITDA is relevant and useful by enhancing the readers’ ability to understand the Company’s operating performance. The Company’s management utilizes EBITDA and Adjusted EBITDA as means to measure performance. The Company’s measurements of EBITDA and Adjusted EBITDA may not be comparable to similar titled measures reported by other companies. The table below reconciles EBITDA and Adjusted EBITDA, both non-GAAP measures, to GAAP numbers for net loss for net loss for the three and six months ended June 30, 2023 and 2022.


About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

BACK TO NEWSROOM

Smart for Life Announces Launch of High Protein Ice Kreem Products in NYC
Smart for Life Announces Launch of High Protein Ice Kreem Products in NYC 1920 1080 Smart for Life, Inc.

Now Available on Delivery Apps such as Uber Eats, DoorDash and Grubhub in New York City

Proprietary Line of Delicious Ice Kreem Formulas are High in Protein and Fiber, Providing Sustained Energy on the Go

Miami, FL – August 15, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, today announced that its line of proprietary and healthy, high protein, high fiber Ice Kreem bars are now available for delivery in the greater New York City area. Smart for Life’s new line of Ice Kreem bars can be purchased on most popular delivery apps, including Uber Eats, DoorDash and Grubhub.

“After first launching in Miami, we are excited to announce that our innovative high protein, high fiber Ice Kreem products are now coming to New York City,” said Darren Minton, Smart for Life’s Chief Executive Officer. “Entering the iconic NYC market is a major milestone and it’s great to see the increasing demand for our innovative concept that mixes protein, fiber and other nutrients in an ice cream bar format. Customers are craving the taste of our Ice Kreem bars, plus the fact that they are gluten free, low in sugar, refreshing and delicious. The entire Smart for Life team is looking forward to launching our Ice Kreem products in more cities across America in the coming weeks and months.”

Smart for Life’s functional ice cream bars are packed with high-quality protein, fiber, and essential nutrients that support muscle recovery, health management, and healthy digestion, while helping to regulate blood sugar levels, thereby potentially reducing the risk of insulin resistance and type 2 diabetes. Initial launch flavors include Vanilla-Chocolate, Cookies & Cream, and Strawberry.

To learn more details and place orders of Smart for Life’s proprietary Ice Kreem bars, which are now available in NYC, please visit: https://smartfor.life/v/1/locations/ny-brooklyn-utica/.

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition/Sports Illustrated Nutrition and Ceautamed Worldwide/Greens First. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

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Smart for Life to Exhibit Greens First Products at The National Convention by the Florida Chiropractic Association
Smart for Life to Exhibit Greens First Products at The National Convention by the Florida Chiropractic Association 1920 1080 Smart for Life, Inc.

Newly Launched Greens First Protein Bars to be Showcased at the World’s Largest Event for the Chiropractic Profession

Miami, FL – August 11, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, today announced that its wholly owned subsidiary, Ceautamed Worldwide LLC, will exhibit its proprietary Greens First products at The National Convention by the Florida Chiropractic Association in Orlando Florida, the world’s largest event for the chiropractic industry.

The FCA National Convention is being held from August 17-20th and is expected to have over 3,000 attendees and 380 exhibitors. Smart for Life’s recently announced new line of Greens First protein bars will be showcased at the event and samples will be available at the Greens First booth #911, located in the main exhibit hall.

“We are excited to participate in the world’s largest chiropractic convention and feature our proprietary Greens First line of products,” stated Darren Minton, Smart for Life’s Chief Executive Officer. “Greens First is specifically designed to help support proper pH balance, provide essential antioxidants, phytonutrients, superfoods, and so much more. In particular, we are pleased to announce that our recently launched line of Greens First protein bars will be showcased at the event and will be available for all attendees to enjoy.”

“We have found the chiropractic channel to be an ideal outlet for our products, as they understand the inherent health benefits of our products and take a holistic approach to health and wellbeing,” stated Ryan Benson, CEO of Ceautamed Worldwide. “The Greens First protein bars combine the benefits of our PRO products in a nutritious protein bar format. This complements our traditional powdered drink format that we have distributed over the past 20 years and gives our loyal customers another way to enjoy our products.”

To learn more about Greens First’s exhibit at the National Convention by the Florida Chiropractic Association in Orlando Florida and register for the event, please visit: https://thenationalchiro.com/

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition/Sports Illustrated Nutrition and Ceautamed Worldwide/Greens First. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

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Smart for Life Commences Rollout of New Line of High Protein Ice Kreem
Smart for Life Commences Rollout of New Line of High Protein Ice Kreem 1920 1080 Smart for Life, Inc.

Now Available in Miami on Most Popular Delivery Apps such as Uber Eats, DoorDash and Grubhub

Proprietary Line of Delicious Ice Kreem Formulas are High in Protein and Fiber, Providing Sustained Energy on the Go

Miami, FL – August 9, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, today announced that its line of proprietary and healthy, high protein, high fiber Ice Kreem bars are now available for delivery in the greater Miami area in South Florida. Smart for Life’s new line of Ice Kreem bars can be purchased on most popular delivery apps, including Uber Eats, DoorDash and Grubhub.

Smart for Life’s functional ice cream bars are packed with high-quality protein, fiber, and essential nutrients that support muscle recovery, health management, and healthy digestion, while helping to regulate blood sugar levels, thereby potentially reducing the risk of insulin resistance and type 2 diabetes. Initial launch flavors include Vanilla-Chocolate, Cookies & Cream, and Strawberry.

“We are excited that our gourmet, high protein, high fiber Ice Kreem bars are now available in the Miami area,” said Darren Minton, Smart for Life’s Chief Executive Officer. “We believe our innovative ratio of protein, fiber and other nutrients in an ice cream bar format is completely novel and represents a pioneering new concept in frozen foods. Our Ice Kreem bars are gluten free, contain whey isolate, are low sugar, high in protein and fiber with a crispy and delicious texture. Our bars provide sustained energy throughout the day, preventing energy crashes and helping to maintain focus and productivity. We look forward to launching a variety of flavors and plan to launch in other major markets very soon.”

To learn more details and place orders of Smart for Life’s proprietary Ice Kreem bars, which are now available in the Miami area, please visit: https://smartfor.life/v/1/locations/fl-miami-alton/

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition/Sports Illustrated Nutrition and Ceautamed Worldwide/Greens First. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

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Smart for Life Recaps Significant Events Year-to-Date
Smart for Life Recaps Significant Events Year-to-Date 1920 1080 Smart for Life, Inc.

Review Includes Interactive Links to Company’s Major Announcements

Miami, FL – August 7, 2023 – Globe Newswire – Smart for Life, Inc. (Nasdaq: SMFL) (“Smart for Life” or the “Company”), a high growth global leader in the Health & Wellness sector marketing and manufacturing nutritional foods and supplements worldwide, is releasing a recap of the Company’s activities year-to-date.

“Given all of the significant events that have occurred with our company since the beginning of the year, we thought it beneficial to recap those events for our shareholders and those considering becoming shareholders,” stated Darren Minton, Smart for Life’s CEO. “We believe our proactive Buy and Build strategy is working, as we have now completed five major acquisitions since our formation. With recognizable brands, industry-leading products, loyal customers, and a full range of world-class service offerings, Smart for Life is positioned to bring health and wellness to customers around the world.”

Click on links below to read the entire release:

About Smart for Life, Inc.
Smart for Life, Inc. (Nasdaq: SMFL) is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. Structured as a publicly held global holding company, the Company is executing a Buy-and-Build strategy with serial accretive acquisitions creating a vertically integrated company with an objective of aggregating companies generating a minimum of $300 million in revenues by the fourth quarter of 2026. To drive growth and earnings, Smart for Life is developing proprietary products as well as acquiring other profitable companies, encompassing brands, manufacturing and distribution channels. The Company currently operates five subsidiaries including Doctors Scientific Organica, Nexus Offers, Bonne Santé Natural Manufacturing, GSP Nutrition and Ceautamed Worldwide. For more information about Smart for Life, please visit: www.smartforlifecorp.com.

Video regarding the Company’s manufacturing facility at Bonne Santé Natural Manufacturing is available at: www.bonnesantemanufacturing.com/video.

Investor material and a Fact Sheet with additional information about Smart for Life is available at: www.smartforlifecorp.com/investor-center.

Forward-Looking Statements
This press release may contain information about our views of future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on management’s beliefs, assumptions and expectations of Smart for Life’s future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Smart for Life believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Smart for Life does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. No assurances can be made that Smart for Life will successfully acquire its acquisition targets. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause Smart for Life’s actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions and other risks set forth in “Risk Factors” included in our filings with the Securities and Exchange Commission.

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SMFL@crescendo-ir.com

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