NutraNomics, Inc. to Acquire DHS Development Inc. dba The Plant
NutraNomics (OTC: NNRX) announced a Binding Letter of Intent to acquire assets, IP, and personnel from DHS Development Inc. dba The Plant. This strategic move aims to enhance NutraNomics' growth in the processing and distribution sectors. CEO Jonathan Bishop expressed optimism about the acquisition, highlighting the importance of The Plant’s management in aligning with NutraNomics' mission. Due diligence is underway with a targeted closing anticipated in February.
- Acquisition of The Plant's assets expected to enhance product diversity and R&D capabilities.
- Strategic alignment with The Plant's management is seen as critical for future growth.
- Positive outlook on integration and client onboarding efforts.
- Dependency on successful completion of due diligence by February may pose risks.
- Potential integration challenges with The Plant's operations.
GLADSTONE, Ore., Jan. 20, 2022 (GLOBE NEWSWIRE) -- NutraNomics. Inc. (OTC: NNRX) has entered into a Binding Letter of Intent with DHS Development Inc. dba The Plant, of Desert Hot Springs, CA. (www.theplantlabs.com), to acquire the organization's assets, IP and key personnel. The Plant's principals and key management are an essential component to NutraNomics' strategic vision for growth and critical to its success path in an evolving industry. "This is an exciting step and opportunity for NutraNomics and represents the first of future M&A's to come. We are confident The Plant and its principals are key anchors in our efforts to empower the NutraNomics mission with premium-grade Processing, Product Diversity and R&D Intelligence. As such, this initial acquisition is a methodical and responsible move in our pursuit to acquire resources in the Seed, Science, Processing and Distribution model that NutraNomics continues to target," says Chairman and CEO Jonathan Bishop. NutraNomics will continue its due-diligence process in preparation for a targeted acquisition closing in February. "I feel very confident that joint counsels and our independent audit will move along favorably to meet February's goal. In the meantime, our management teams will be working together to support The Plant's efforts to grow and onboard current and additional clientele," says Chairman and CEO Jonathan Bishop.
NutraNomics is looking forward to sharing more details in the weeks and months to come.
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)
Related Images
Image 1: The Plant Labs Facility
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