Greenlite Ventures Enters into Strategic Alliance with Woodway USA

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Mar 15, 2024, 16:00 ET

BOCA RATON, Fla., March 15, 2024 /PRNewswire/ -- Greenlite Ventures, Inc. (OTC-PINK: GRNL) has announced the signing of Agreements with Woodway USA, Inc. and its owner, Doug Bayerlein, that call for the parties to work in partnership for the sale of simulated altitude chambers, as well as other joint venture opportunities. Woodway is the largest specialized treadmill manufacturer in the USA, and has a client list that includes every NFL, NBA, and MLB team along with an extensive list of NHL teams, international soccer clubs, major colleges, and top government agencies.

The Agreements were brought about by GRNL Consultant, Dave Vincent, who is the founder and CEO of Sporting Edge UK, a global leader in the sale of simulated altitude and extreme environmental chambers. Last year, GRNL acquired the exclusive North America rights for all Sporting Edge's patents and products and has now passed those rights onto Woodway in exchange for an ongoing top-line royalty covering all related sales. Vincent has been working with Woodway on various projects for over 5 years and will play a lead role in the rollout of Woodway Altitude Chambers across the Americas.

The parties are also working together to open the first altitude fitness center featuring all Woodway products which is currently being built-out inside the renowned Impact Zone in New Jersey. The Impact Zone is one of the world's largest fitness/training facilities and is the training center for many top professional athletes from all sports. The new unit will utilize two lines of Woodway Treadmills and Watt Bikes inside a Woodway simulated altitude chamber and will likely serve as the flagship unit for a planned altitude franchise roll-out.

Woodway's Doug Bayerlein said, "I am really pleased to be back working with Dave Vincent as we strive to make altitude training as big in the States as Dave has made it in Europe. This new Partnership gives me the opportunity to fully leverage the Woodway brand in market sectors many times larger than treadmills, while also leveraging GRNL's strong franchising and fitness center connections. I look forward to making Woodway a household name on a number of new levels through our extraordinary Partnership with GRNL."

Russ Elbaum, GRNL's Chairman concluded, "It was obvious from the outset that Doug and I share the same vision for our joint altitude efforts and potential franchise partnership. Just the altitude sales alone that Woodway can make to just a small fraction of their unparalleled customer base can bring GRNL a substantial income stream for years to come. It is truly an honor for all of us at Greenlite to partner with Doug Bayerlein and his iconic Woodway brand."

SAFE HARBOR STATEMENT

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 195, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information future events or otherwise. No information contained in this press release should be construed as any indication of the Company's future revenues, results of operations, or stock price.

CONTACT

Rich Kaiser, 757 373 5890, [email protected]

SOURCE Greenlite Ventures, Inc.