Los Angeles, California, April 07, 2022 (GLOBE NEWSWIRE) — Serial Entrepreneur Joe Wallace is now CEO and Chairman of the Board of Active Health Foods, Inc. (OTC: AHFD)and he announced the launch of a new division, Etrnl Cosmetics with a primary focus on Chaga mushroom products, for skin and hair. Chaga is an antioxidant-rich fungus that grows on the bark of birch trees in the cold climates of Alaska, northern Canada and Siberia. It is notoriously difficult to source unpolluted products.
“The challenge,” says Wallace, “has been finding the best quality in areas that aren’t affected by pollution. Naturally, these areas are remote in the desert and kept highly secret. Our connections have helped us locate and secure an exclusive supply of Chaga mushrooms from birch bark, which we will harvest in a sustainable way, promoting the continued growth of the mushroom and supporting the surrounding community. Lab-grown chaga – which currently accounts for 90% of the world’s supply – lacks the strength of the birch forest specimens we 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, the AHFD plans to use Chaga’s unique properties to create a new class of cosmetics, zinc-free complexion-specific sunscreens, acne treatments and hair care products. Leading industry experts will formulate and market the products, which will be introduced to the market over the next few months.
Etrnl Cosmetics’ experts in sustainable Chaga sourcing are tulsy and Prema ball of Chagit Products Inc. The brothers are also well-known television producers in the Bering Sea Gold shows on Discovery. Wallace also announced that Dr. Perry Liu, MDaffiliated with Cedars-Sinai and UCLAbecame a partner of the company and will develop Etrnl Cosmetics products. Dermazone The technology was also 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 in the coming days.
Mr. Wallace continued, “We welcome the current shareholders of Active Health Foods to the Wallace family of entrepreneurial companies. Over the next few weeks, my team will unveil all the details of our plans to create this all-new class of science-based 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 marketing, start-up, corporate finance and fundraising ventures since 2001 and brings many years of experience essential to the success of Active Health. Joe developed the first sports and management division of Kayne Anderson Capital Advisors, a Los Angeles, California-based registered investment advisory firm with approximately $15 billion in assets under management.
His extensive entrepreneurial and marketing experience provided Mr. Wallace, a true visionary, with the forward-thinking idea to establish and sell the first alcoholic ice cream business, which ultimately led him to establish his current new venture, Tiger Paw Beverages Inc. Inspired by the music of Jimi Hendrix, Joe through Tiger Paw Beverages Inc., has created a premium portfolio of alcoholic beverages using several iconic classic song titles. The company’s first product is Purple Haze Liqueur, a 34-degree concoction of vodka and exotic berry blend that’s currently available online and launched 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 plug-and-play creation of non-fungible tokens.
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