News ReleaseWellness And Dietary Supplement Company Safety Shot Reports Bringing World's First Patented Rapid Blood Alcohol Detox Solution To Market
Benzinga
By Anthony Termini, Benzinga The last nine months have been busy for Safety Shot (NASDAQ: SHOT), a developer of over-the-counter and prescription-grade health and wellness products based in Jupiter, Florida. The company launched its eponymous beverage – Safety Shot, a groundbreaking drink that alleviates the effects of alcohol – in the third quarter of 2023. Since then, Safety Shot has been actively building its business and market share. What Makes The Safety Shot Beverage So Unique? The Safety Shot beverage’s makers share that it’s a proprietary blend of natural ingredients carefully crafted to reduce blood alcohol levels. It is a holistic solution designed to support liver and brain function and to swiftly alleviate the effects of alcohol consumption. There are certainly other “hangover cures” marketed as treatments for overindulgence. While some are herbal remedies, others include large amounts of sugar. Still others rely on caffeine, which science suggests may be unwise. It is a reliance on science that makes Safety Shot’s solution unique. While other “remedies” may relieve some of the symptoms of alcohol consumption, they do not address its harmful effects. Safety Shot says its patented formula is a precise combination of nootropics, vitamins, amino acids and minerals formulated to support the maintenance of muscle and brain function. Backed by extensive research, Safety Shot accelerates recovery because it helps the body process alcohol more efficiently. This provides liver support by reducing alcohol absorption. Safety Shot also helps restore the central nervous system, cognition and the motor cortex. As such, it can improve mental and physical well-being. Academic research published by the National Institutes of Health has shown that some of the ingredients in Safety Shot can “improve the brain’s supply of glucose and oxygen, have antihypoxic effects, and protect brain tissue from neurotoxicity.” Safety Shot Is Addressing A Chronic Problem And A Huge Market Opportunity According to the Centers for Disease Control and Prevention, about 178,000 people die from excessive alcohol use each year in the United States. To address a component of this chronic problem, Safety Shot is developing a concentrated form of its functional beverage platform that could be used to treat alcohol poisoning in hospitals and other emergency settings. “With 52 million people rushed to the ER each year due to acute alcohol consumption, we believe that prescription-grade Safety Shot could be used in a variety of settings,” said Dr. Glynn Wilson, Safety Shot’s Chief Scientific Officer. At the same time, the company remains committed to the booming global consumer market for hangover cure products. That market is estimated by Zion Market Research to reach roughly $9.5 billion by 2032, growing at a CAGR of 14.5% over 2023-2032. More than a third of that total will come from the United States. Recent Distribution Deals Translate To Nationwide Availability In May, Safety Shot entered into an agreement with GoBrands, Inc., the company that owns online consumer goods and food delivery service GoPuff. "We are thrilled to launch Safety Shot with GoPuff, a company with millions of monthly shoppers, offering a unique and reliable experience for customers nationwide," said Josh Wagner, Safety Shot’s Chief Revenue Officer. The national reach of GoPuff is augmented by its regional retail distribution strength. The company owns BevMo!, which has stores throughout California, Arizona, and Washington. Its Liquor Barn subsidiary puts Safety Shot into more than 20 stores in Kentucky. Within weeks of announcing the GoPuff deal, Safety Shot also entered into distribution agreements with major distributors such as Capital Drugs, Prime CSB, Mr. Checkout and BM Distributors. The deals expand Safety Shot’s footprint in key markets. The BM alliance puts Safety Shot into stores throughout Southern California and gives it an immediate presence in Las Vegas, where it reaches a core tourism audience. According to Josh Wagner, Safety Shot's Chief Revenue Officer, the Prime CSB opportunity opens up “two high-volume regions that make up a significant part of our overarching Northeast expansion efforts.” Furthermore, the Capital Drugs agreement gives Safety Shot shelf space in 300 drug stores across the United States and enhances the brand’s identity as a functional wellness beverage. At the same time, the company is working on expanding its B2B sales strategy by working with restaurants and bars (and the distributors that service them) to expand Safety Shot’s availability. The Safety Shot Team Includes Leaders In The Wellness And Dietary Supplement Industry Safety Shot, which was built on a foundation of robust clinical data, has added a number of key executives to its management team and advisory board. Among them is David Sandler, the company's Chief Operating Officer, who has over three decades of experience in the health and nutrition industry. David J. Long, the CEO and co-founder of Orangetheory Fitness, has also joined the company’s Board of Directors, as has newly appointed CEO Jarrett Boon, who has more than 30 years of experience creating and growing successful businesses. The Honorable Jack Brewer, M.Ed., a White House Presidential Appointee and Former Ambassador, joined Safety Shot’s board in 2023. Safety Shot Continues To Build On A Solid Foundation In addition to its recent distribution pacts and management appointments, Safety Shot has also enlisted a number of celebrity influencers to help promote the brand. These include record-breaking pro skateboarder Danny Way, Multiplatform Entertainer Matthew Espinosa and mixed martial artist Jorge Masvidal. Additional funding for Safety Shot’s operations and promotional efforts was recently secured through the successful private placement of a pure equity investment from private institutional investor, Core 4 Capital Corp. Safety Shot raised gross proceeds of $5 million in the arrangement, which company management says will help it create its own product category – rapid alcohol detoxification. Click here for more information about Safety Shot’s blood alcohol-reducing beverage. Investors interested in owning shares of Safety Shot stock can begin their research at Compass Live Media. Image sourced from Shutterstock Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
June 18, 2024 08:45 AM Eastern Daylight Time
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