Please summarize the 3 recommendations and create a call to action. Make sure the summary and call to action is in-depth

Problem: Entering retail stores in the Canadian market.

Recommendation 1: Work with Canadian Distributor

Description using SMART objectives: To solve this problem, our first recommendation to Lisanatura is to work with a Canadian distributor that will handle the transportation of Serenum to Canadian retail stores. Canadian distributors such as Trans Canada distribution or Logistic Distribution incorporated are two great examples of organizations that Lisanatura can partner with in order to get our products across Canada and into stores. The measurable aspect of this recommendation can be monitored by completing the legal requirements that the Canadian Government enforces for safe and regulated imports. To complete these requirements, Lisanatura must meet the requirements of the Food and Drugs Act including labeling, licensing, and good manufacturing practices (GMP). Additionally, since Lisanatura plans on becoming a Commercial importer of Natural Health Products (NHP), they must obtain a Natural Product Number (NPN) which is legally required in conjunction with partnering with a Canadian distributor. The completion of these legal requirements is both attainable and realistic as it is common for foreign companies to import goods to Canada, and the use of a Canadian distributor is the most cost-efficient method of importing goods. Lastly, the time Lisanatura needs to allocate to this recommendation is low as partnering with distribution companies will be easy once the legal requirements can be completed, and the legal requirements can be completed through an online application with the Government of Canada.

Benefits: Legal: Lisanatura will comply with Canadian regulations for importing and distributing goods. As a Foreign supplier, Lisanatura is able to enter a contract with a distribution centre and sell goods in Canada without the requirement of having a corporate office in Canada. https://www.lexology.com/library/detail.aspx?g=a047adbe-3eba-4b74-b437-428ef94c748e cost effective: Opening a corporate office in a foreign country is highly expensive, so avoiding this with also complying with regulations to sell in a foreign market will be very cost effective.

Risks: The risks associated with this recommendation are low as distribution centers control the transportation of the product, which is agreed upon in the contract, but Lisanatura is responsible for transporting their products to Canada via freight (boat or plane).

3-Step action plan:

- Scout distribution companies that are cost-efficient while having wide access to big box stores

- Organize the distribution processes to get product to Canada, and which stores to enter

- Execute legal and regulatory requirements to enter the Canadian market Recommendation 2: Conduct Clinical Trial on Justica Pectoralis

Recommendation 2: Invest in expanding the manufacturing operations in Costa Rica to meet demand of retail stores in Canada (Keep Costa Rican Certification that Lisan values)

Define SMART objective of recommendation: Conduct Treatment trial: test experimental treatments, new drugs, combinations of drugs, medical devices, natural health products, or new approaches to surgery or therapy. An example of an experimental treatment is an investigational contact lens; contact lens are medical devices.

Benefits: Trial confirms the efficacy of Justica Pectoralis and therefore Serenum. Consumers become aware of the benefits of Justica Pectorallis and seek out Serenum Increase trust consumers have with Serenum and other LisaNatura products Makes Serenum more appealing to retailers

Risks: One risk associated with this recommendation is that it is costly. Lisanatura will need to spend money on clinical procedures, staff and admin, site monitoring, site retention, and lab costs, all of which are heavily costly. In addition to this, clinical trials are also extremely timely. Clinical trials require 3-4 phases, in which each phase can last from several months up to four years. This means that it can take quite a bit of time before Lisanatura confirms the effectiveness of Justica Pectoralis. Lastly, another potential risk is that the clinical trial could reveal that Justica Pectoralis is ineffective in addressing stress and anxiety relief, as well as disclosing previously unknown undesirable side effects within the product.

3-Step action plan: File Clinical Trial Application (CTA) and Attestation to The Natural and Non-prescription Health Products Directorate (NNHPD) obtaining all 7 parts.

Part 1: Applicant and Contact Information

Part 2: Research Ethics Boards

Part 3: Clinical Trial Application Information

Part 4: Clinical Trial Application Amendment

Part 5: Clinical Trial Site Information

Part 6: Study Product Information

Part 7: Clinical Trial Attestation Conduct a survey within the population to select ideal candidates based off the data collected. Ideal candidates will be individuals with no prior medical history with a focus on those who live a high-stress lifestyle (high-demanding job, parental responsibilities, etc.) After they receive authorization from Health Canada, partner with notable research institutions such as the University of Waterloo, Mcmaster, and University of Toronto to collaborate and facilitate trial phases 1, 2, and 3 prior to releasing to the market. - After they receive authorization from Health Canada, partner with a research institution such as University of Guelph, University of Waterloo, or University of McMasters to facilitate the trail - Conduct trial phase 1, 2, and 3 prior to releasing to market. Phase 4 can be after - Spread awareness about Justica Pectoralis

Recommendation 3: Form a strategic partnership with an established Canadian fitness center (gym Orange Thery, yoga studio Oxygen Yoga and Fitness)

Define SMART objective of recommendation: Specific: Breaking Lisanatura and the Serenum product into the Canadian is a difficult job. One thing Lisanatura can do is form a strategic partnership with a gym or yoga studio to have Serenum available to purchase at the gym or studios reception area or in-house shop. The gym or studio would get the benefit of having the opportunity to offer their members high-quality and unique supplements while also generating additional revenue streams created by Serenum. Lisanaturas added benefits would be increased exposure and an increase in the customer base allowing for statistical analysis of customer feedback to refine and improve products. Measurable: Measuring this goal can be done through analyzing number of Serenum units sold at a given location, total revenue generated from supplement sales at partnered locations, increases in customer retention, increases in customer satisfaction or positive feedback related to Serenum, etc. Attainable: Making sure this goal is attainable could be done by setting benchmarks to ensure the partnership is positive for both parties. For example, setting targets such as increasing supplement sales by 10% within the first 4 months, increasing customer retention by 15% within the first 6 months, or increase percentage of members who use the supplements by 10% by offering complimentary supplements with every membership package sold. Realistic: Keeping these goals attainable and realistic is important, large increases in revenue and customer additions in a short period of time are not realistic. The size of the gym or studio will have a large impact because the size determines the potential customer base that can be captured. Time-Oriented: As mentioned previously, the timeframe for this goal should not be rushed or considered short-term. When attempting to break into a new market and increase revenue/brand recognition time should be taken to ensure all steps are completed properly. The timeframe should be considered in months and years as it will take at least 3 months before any substantial data can be collected and analyzed

Benefits: Increased revenue: Lisanatura would increase revenue through sales of Serenum at all partnered locations while the partner would earn a commission of each sale Brand exposure: A strategic partnership would provide Lisanatura with the already established customer base of the partner which would ease the transition for Lisanatura into the Canadian market Joint-marketing possibilities: By being able to collaborate on marketing with an already established company in Canada will make the pre-existing customers trust Serenum more and increase the likelihood of purchase Customer Opinions: By offering Serenum at these partnered locations, Lisanatura opens up lines of communications from not only customers but also the staff and management at these partnered locations to get honest and reliable insights regarding demand and customer preferences.

Risks:

- Partnering with a fitness centre can lead to additional competition, especially if other businesses in the industry also partner with the same fitness centre. -Financial risk: if the partnership does not yield the expected financial benefits or if there are unforeseen expenses associated with the partnership it could impact Lisanaturas bottom line.

- Reputational Risk: if the fitness centre faces negative PR at any point,it could reflect poorly on Lisanatura.

3-Step action plan: - Conduct a comprehensive risk assessment: analyze potential risks associated with partnering with a fitness centre. This assessment should include an evaluation of the competition and financial risks, as well as an examination of the reputation of the fitness centre. - Develop a contingency plan: to mitigate the risks, create a plan that outlines steps that should be taken in the case of an unfavourable outcome or a change in circumstances. E.g. exploring marketing strategies to offset any negative impact on the business. -Maintain open communication with the fitness centre: establish and maintain open lines of communication with the fitness centre. This will help to ensure any potential issues are identifed and addressed in a timely manner.

Summary of Recommendations & Action Plan