Los Angeles, CA, April 07, 2022 (GLOBE NEWSWIRE) – Serial Entrepreneur Joe Wallace he is now Chief Executive Officer and Chairman of the Board of Directors of Active Health Foods, Inc. (OTC: AHFD)and announced the launch of a new dvision, ETRNL Cosmetics with a primary focus on Chaga mushroom products for skin and hair. Chaga is an antioxidant-rich mushroom that grows on the bark of birch trees in the cold climates of Alaska, northern Canada, and Siberia. The procurement of unpolluted supplies is notoriously difficult.
“The challenge,” says Wallace, “was to source the best quality from areas not affected by the pollution. Of course, these areas are remote in the wild and kept highly secret. Our relationships have helped us locate and secure a Exclusive supply of Chaga mushrooms from birch bark, which we will harvest in a sustainable way, promoting continued growth of the mushroom and supporting the surrounding community. Lab grown chaga – which currently accounts for 90% of the world supply – has nothing to do with the strength of the specimens of the birch forest 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, AHFD plans to use Chaga’s unique properties 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 commercialize the products, which will be introduced to the market in the coming months.
Etrnl Cosmetics experts on sustainable sourcing from Chaga are Tulli And According to Ball Of Chagit Products Inc. The brothers are also well-known television producers of Bering Sea Gold shows on Discovery. Wallace also announced it Dr. Perry Liu, MDaffiliated with Cedars-Sinai And UCLAhas become a partner in the business and will develop 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 hired by the Company as a consultant to manage the recently acquired CoinChamp forecasting 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 business ventures. In the coming weeks, my team will present full details of our plans to create this entirely new class of science-based consumer skin and cosmetic products, as well as announce our team of product formulators and product sponsors. We welcome you on our journey with Chaga.
Joe Wallace also known as Scott Joseph Wallace, a former professional basketball player, has been involved in numerous successful marketing, startups, corporate financing and fund acquisitions 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 registered investment advisory firm headquartered 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 foresight to found and sell the first alcoholic ice cream company which ultimately led him to found 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 alcoholic beverage products using several iconic classic song titles. The company’s first product is Purple Haze Liqueur, a 34-degree blend of vodka and exotic berries currently available online and launching in California.
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Speaking of active health foods
Active Health Foods recently experienced a change of control with Los Angeles-based entrepreneur Joe Wallace taking over 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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