- The Hydration Pharmaceuticals Company (HPC) signs a binding two-year brand ambassador deal with Shay Mitchell, a prominent North American actress and entrepreneur
- According to the agreement, Ms Mitchell will be issued shares amounting to US$250,000 (A$333,000)
- As part of her role, Ms Mitchell will help broaden the brand’s awareness by using her own social channels and curating promotional events
- CEO Oliver Baker has invited shareholders and investors to attend a webinar on March 30 where he will provide an update on the company’s progress
- Shares in Hydration Pharmaceuticals had dropped 13.56 per cent on Tuesday to close at $0.26 each
The Hydration Pharmaceuticals Company (HPC) has signed a binding two-year brand ambassador deal with Shay Mitchell, a prominent North American actress and entrepreneur.
According to the agreement, Ms Mitchell will be issued shares amounting to US$250,000 (A$333,000) at the 10-day volume-weighted average price prior to the date of the agreement.
Ms Mitchell will also be issued a further allotment of shares equal to US$250,000 one year after the first public usage of the products created under the agreement.
As part of her role, Ms Mitchell will help broaden the brand’s awareness by consulting on social strategy, using her own social channels to promote the company, and curating promotional events.
Hydration Pharmaceuticals will also collaborate with Ms Mitchell to create a new flavour of Hydralyte specifically designed for the actress, and has said that product development work is underway.
“She has a track record of building brands with style, passion, fun and most importantly authenticity,” CEO Oliver Baker said.
“Her follower base also contains a large proportion of our target demographic. This gives us a very unique opportunity to not only market directly to these individuals, but also create a product in collaboration with Shay to drive potential sales growth.”
Mr Baker said Ms Mitchell also provides the company with a unique opportunity to work with her in one of Hydralyte larger operating markets which will “help awareness of our health hydration solution across difference market segments”.
Her social media presence is significant, boasting over 32.5 million Instagram followers, three million Twitter followers, 4.23 million YouTube subscribers and over 6.8 million followers on TikTok — almost 40 times the following of some of Australia’s leading online entrepreneurs.
Mr Baker has invited shareholders and investors to attend a webinar on March 30 where he will provide an update on the company’s progress and more information on the agreement with Ms Mitchell.
Shares in Hydration Pharmaceuticals had dropped 13.56 per cent on Tuesday to close at $0.26 each.