NutraNomics, Inc. Guidance Regarding Pending Acquisition of DHS Development, Inc. dba The Plant

Rhea-AI Summary

NutraNomics, Inc. (OTC: NNRX) announced plans for a strategic acquisition of DHS Development, Inc. dba The Plant, focusing on enhancing its manufacturing and cultivation capabilities. The company intends to invest up to $1M in equipment and facility improvements to meet existing customer demand. This investment aims to support the production of various core cannabis products, including concentrates and edibles, from its 27,000 sq. ft. production facility and an additional 30,000 sq. ft. cultivation space. More acquisition details will follow after the expected closure in mid-February.

Positive

• Commitment of up to $1M for equipment and facility enhancements.
• Strengthening the manufacturing and cultivation infrastructure.
• Plan to produce diverse cannabis products to meet customer demand.
• Increased production capacity with state-of-the-art facilities.

Negative

• None.

Gladstone, OR, Jan. 25, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- NutraNomics, Inc. (OTC: NNRX) is pleased to provide the following guidance related to its pending acquisition of DHS Development, Inc. dba The Plant.  NutraNomics’ capital investment will center on equipment and facility improvements as they pertain to Manufacturing & Cultivation infrastructure build-out in order to fulfill in-place and pending wholesale customer sales agreements, and to support the production of core products such as Cured and Live Concentrates, Crude, Distillates, Pre-Rolls, Capsules, Gummies, Tablets, Vape Cartridges, Topicals, Flower, as well as Contract Packaging.  Pending closure of The Plant's acquisition, NutraNomics is committing up to $1M of leveraged interim capital for manufacturing assets necessary to serve immediate customer product demand. "Through our strategic capital investment into critical elements of our manufacturing and cultivation operation, we are committed to the principles of optimal quality and cost-efficiency.  Our intelligent verticalization plan not only sets a solid foundation upon which to produce top quality products for our valued customers, but allows us to evolve our 27,000 sq. ft. production facility into other areas of unique product differentiation in conjunction with the addition of our 30,000 sq. ft. state-of-the-art cultivation operation," says Jonathan Bishop, NutraNomics' CEO.  Further details regarding terms of the Acquisition will be disclosed following formal closure of the Acquisition slated for mid-February.

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: Geoffrey Bazegian (gbazegian@nutranomics.com)

Attachment

• NutraNomics, Inc.

FAQ

What is NutraNomics' acquisition of DHS Development, Inc. about?

NutraNomics is acquiring DHS Development, Inc. to enhance its manufacturing and cultivation capabilities for cannabis products.

How much is NutraNomics investing in the acquisition of The Plant?

NutraNomics is committing up to $1M in leveraged interim capital for equipment and facility improvements.

What products will NutraNomics produce after the acquisition?

NutraNomics plans to produce various products including Cured and Live Concentrates, Crude, Distillates, Pre-Rolls, Capsules, Gummies, Tablets, Vape Cartridges, Topicals, and Flower.

When is the acquisition of The Plant expected to close?

The acquisition is slated to close in mid-February.

What is the strategic importance of the acquisition for NutraNomics?

The acquisition will enhance NutraNomics' manufacturing capabilities and allow for product differentiation in a competitive cannabis market.