Los Angeles, CA, April 07, 2022 (GLOBE NEWSWIRE) — Serial entrepreneur Joe Wallace is now the CEO and Chairman of the Board of Directors at Active Health Foods, Inc. (OTC: AHFD), and he has announced the launch of a new dvision, Etrnl Cosmetics with a primary focus on Chaga mushroom-based, skin and hair products. Chaga is an antioxidant-packed fungus that grows on the bark of birch trees in the cold climates of Alaska, Northern Canada, and Siberia. Sourcing unpolluted supplies is notoriously difficult.
“The challenge,” says Wallace, “has been to source the best quality from areas that are unaffected by pollution. Naturally, these areas are far off in the wilderness, and kept highly secret. Our relationships have helped us locate and secure an exclusive supply of Chaga mushrooms from birch bark, which we will harvest in a way that is sustainable, fosters continued growth of the fungus and supports the surrounding community. Lab grown Chaga – currently making up 90% of the world’s supply – has no where near the strength of the specimens from the birch forest we’ve found.”
For centuries, Chaga has been used as a folk remedy by people living in northern latitudes to treat various ailments and numerous peer reviewed scientific studies well document its antioxidant properties. Under Wallace, AHFD plans to use the unique properties of Chaga to create a new class of cosmetics, zinc-free skin tone specific sunscreens, acne treatments, and hair care products. Leading industry experts will formulate and market the products, which will be introduced into the marketplace over the coming months.
Etrnl Cosmetics’ experts on sustainable Chaga procurement are Tulsy and Prema Ball of Chagit Products Inc. The brothers are also noted television producers of the Bering Sea Gold shows on Discovery. Wallace also announced that Dr. Perry Liu, MD, affiliated with Cedars-Sinai and UCLA, has become a partner in the business and will be developing Etrnl Cosmetics products. DermaZone technology has also been licensed for use in the new line.
Outgoing CEO and Chairman of the Board, Glen Bonilla, has been retained by the Company as a consultant to manage the recently acquired CoinChamp prediction platform. Full details of the change of control agreement will be filed with OTC Markets Group over the coming days.
Mr. Wallace continued, “We welcome the current shareholders of Active Health Foods to the Wallace family of entrepreneurial ventures. Over the coming weeks, my team will be rolling out full details of our plans to create this entirely new class of science-based consumer skin and cosmetic products, in addition to announcing our team of product formulators and product endorsers. We welcome you to our journey with Chaga.”
Joe Wallace also known as Scott Joseph Wallace, a former professional Basketball Player, has been involved in numerous successful business marketing, start-ups, corporate financing, and fund acquisitions since 2001 and brings many years of experience essential for the success to Active Health. Joe developed the first sports and management division of Kayne Anderson Capital Advisors, a registered investment advisory firm based in Los Angeles, California with approximately $15 billion in assets under management.
His extensive entrepreneurial and marketing experience, provided Mr. Wallace, a true visionary, with the forward-thinking to establish and sell the first Alcohol Ice Cream company which ultimately lead him to establish his newly formed and current company, Tiger Paw Beverages Inc. Inspired by the music of Jimi Hendrix, Joe through Tiger Paw Beverages Inc., has created a premium portfolio of alcohol beverage products utilizing several iconic classic song titles. The company’s first product is Purple Haze Liqueur, a 34-proof concoction of vodka-based and exotic berries mix which is currently available online and launching in California.
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About Active Health Foods
Active Health Foods, recently experienced a change of control with Los Angeles-based Entrepreneur Joe Wallace taking control of the Company. Previously, the Company acquired CoinChamp, Inc. CoinChamp is developing a platform for the plug-and-play creation of non-fungible tokens.
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