NutraNomics Announces Debt Restructuring and New Credit Facility

Rhea-AI Summary

NutraNomics, Inc. (OTC PINK:NNRX) announced on September 20, 2022, the successful retirement of $500,000 in debt, converting it to equity, while securing a $400,000 credit line to bolster its operational and production needs. CEO Jonathan Bishop emphasized the importance of balancing financial health with growth objectives. The new credit facility aims to support the increasing demand from NutraNomics' customer base. The company expresses commitment to ongoing financial optimization and anticipates further announcements regarding its financial health.

Positive

• Converted $500,000 of debt to equity, improving balance sheet.
• Secured a $400,000 credit line with enhanced terms to support growth.

Negative

• None.

DESERT HOT SPRINGS, CA / ACCESSWIRE / September 20, 2022 / NutraNomics, Inc. (OTC PINK:NNRX), an emerging leader in organic plant-based nutritional science and innovation, and The Plant (www.theplantlabs.com), a NutraNomics company, is pleased to report that it successfully retired a portion of its debt, and secured an ongoing line of credit to support its growing operational needs and increasing production resource requirements.

NutraNomics has recently successfully converted $500,000 of debt to NNRX equity, while attaining a new $400,000 credit line with enhanced terms. The new facility will provide the Company with critical financial resources in order to brace its growing production and manufacturing needs.

"Concurrent with our consistent efforts to increase sales and grow the business, we're making every effort possible to optimize the Company's financial health. This is just one example of how we will always maintain balance between financial necessity and sensibility", commented Jonathan Bishop, NutraNomics' CEO. "This credit facility will provide us with the necessary resources to prudently scale our production to meet the increasing demand of our growing customer base."

NutraNomics looks forward to more announcements relating to the optimization of its financial health. More news to follow.

About NutraNomics
At NutraNomics, Inc. (OTC PINK:NNRX), we are committed to excellence in organic plant-based nutritional science and innovation. That was our stance when we began in 1996, and it is still our stance today.

NutraNomics Website: https://www.nutranomics.com

NutraNomics Twitter: https://www.twitter.com/nutranomicsinc

Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Press Contact:
Geoff Bazegian, IR@nutranomics.com

SOURCE: NutraNomics, Inc.

View source version on accesswire.com:
https://www.accesswire.com/716816/NutraNomics-Announces-Debt-Restructuring-and-New-Credit-Facility

FAQ

What recent financial changes did NutraNomics (NNRX) announce?

NutraNomics announced the conversion of $500,000 of debt to equity and secured a new $400,000 credit line.

How will the new credit facility benefit NutraNomics (NNRX)?

The credit facility will provide critical resources needed to support growing production and operational needs.

What is NutraNomics' strategy for financial health?

NutraNomics aims to optimize its financial health while balancing sales growth and operational requirements.

When did NutraNomics announce these financial updates?

The announcement was made on September 20, 2022.