PsyKey Expands Product Portfolio in the $8 Billion Dollar Functional Mushroom Market with the Acquisition of NutraRox

Rhea-AI Summary

CeCors, Inc. (OTC PINK: CEOS) announced its acquisition of Nutra-Rox LLC, a company specializing in advanced carbonated delivery technology for nutraceuticals. This non-dilutive transaction allows CeCors to enhance its product offerings in the growing functional mushroom market, projected to reach $19.33 billion by 2030. Nutra-Rox’s innovative products, including the popular Breath Rox, aim to provide unique customer experiences and expand distribution channels. Nutra-Rox's management brings over 50 years of experience, promising potential synergies to boost shareholder value.

Positive

• Acquisition expands product portfolio in the high-growth functional mushroom market.
• Nutra-Rox's innovative delivery system enhances customer experience.
• Management team's extensive experience adds value to the acquisition.

Negative

• None.

CARSON CITY, NV / ACCESSWIRE / March 7, 2022 / CECORS, INC. (OTC PINK:CEOS) ("CeCors", "PsyKey" or the "Company"). is pleased to announce that through a non-dilutive restricted stock transaction, the company has acquired 100 percent of Nutra-Rox LLC, specializing in products featuring functional carbonated crystal delivery technology (Think "Pop Rocks" like candy). Nutra-Rox formulates and manufactures innovative consumer products utilizing this patent-pending delivery technology for nutraceuticals and bioactive ingredients. Under the terms of the acquisition agreement, Nutra-Rox shareholders will be subject to a 2-year regulatory hold.

Nutra-Rox delivery technology allows for bioavailable ingredients such as functional mushrooms delivered via carbonated crystals, that create a multi-sensory sensation in the mouth which provides an unmatched user experience. With the massive popularity of "enjoyable to use" delivery systems such as gummy and candy supplements and vitamins, this novel technology provides the company a unique delivery system in the fast-evolving functional mushroom and innovative wellness markets. The Nutra-Rox acquisition will help increase shareholder value by providing the company expanded novel product offerings, sales, and distribution.

The Nutra-Rox management team has over 50 years of collective experience in research, product development, manufacturing, branding, marketing, sales and distribution. Nutra-Rox is also the parent company of Breath Rox®, a sugar free "popping" fresh breath treatment which delivers zinc gluconate to help reduce odor causing bacteria in the mouth. Breath Rox® has been sold on HSN (Home Shopping Network), online, and continues to pursue additional distribution opportunities including retail and international markets.

"We're excited and eagerly looking forward to the future with this acquisition" said Amar Bhatal president of PsyKey, "We feel the Nutra-Rox teams' diverse expertise and innovative product development capabilities, will serve as a powerful catalyst in helping PsyKey achieve its goals of increasing shareholder value, while becoming a standout innovative wellness company".

Nutra-Rox CIO David Anderson who has managed the company's efforts over the last two years on HSN stated, "We've witnessed the excitement consumers express when using a popping crystal product, as it's fun, different and most importantly, effective". Mr. Anderson continued, "Having worked with our visionary executives for over 20 years, I can see this new venture allowing the company to achieve tremendous success. Our team is currently working on several new formulas which will be released in the coming weeks".

According to the report published by Allied Market Research, the global functional mushroom market generated $7.98 billion in 2020, and is estimated to reach $19.33 billion by 2030.

Shareholders and interested parties are encouraged to follow @PSYKEY on Twitter for all Company updates.

About PsyKey, Inc.

PsyKey, Inc. specializes in the development and commercialization of mycology based entheogenic, adaptogenic, and nootropic ingredients and formulations. From functional to psychedelic PsyKey believes in the magic of mushrooms.

As part of our optimal wellness strategy, PsyKey understands the importance of access to support services and healthcare professionals, and is engaged in the development of tools that will aid in removing barriers and providing inclusivity.

For further information:

Publicly traded company (OTC PINK: CEOS)
Website: www.psykeyworld.com
E-mail: info@psykeyworld.com
Follow us on Twitter: https://twitter.com/PsyKeyworld

About Nutra-Rox LLC

Nutra-Rox LLC is a world leader in the research and development of nutraceutical formulations with bioactive ingredients including vitamins, minerals, nutraceuticals, antioxidants, natural botanicals, and time-tested herbal extracts utilizing a unique patent-pending carbonated delivery technology.

For further information:

Website: www.NutraRox.com www.BreathRox.com

Email: info@NutraRox.com

Forward-Looking Statements:

Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward- looking statements.

SOURCE: CeCors, Inc.

View source version on accesswire.com:
https://www.accesswire.com/691790/PsyKey-Expands-Product-Portfolio-in-the-8-Billion-Dollar-Functional-Mushroom-Market-with-the-Acquisition-of-NutraRox

FAQ

What was the main objective of CeCors's acquisition of Nutra-Rox?

The main objective was to expand CeCors's product offerings in the functional mushroom market and enhance shareholder value.

What is the expected market impact of Nutra-Rox's technology for CeCors?

Nutra-Rox's unique delivery technology is expected to provide a competitive edge in the rapidly growing functional mushroom market, projected to reach $19.33 billion by 2030.

What financial structure was used for the acquisition of Nutra-Rox?

The acquisition was conducted through a non-dilutive restricted stock transaction.

How has Nutra-Rox performed in the past?

Nutra-Rox has successfully sold products like Breath Rox on platforms like HSN and continues to pursue additional distribution opportunities.

Who is leading Nutra-Rox after the acquisition?

Nutra-Rox will continue to be led by its experienced management team, which has over 50 years of collective expertise in the industry.