DESERT HOT SPRINGS, CA / ACCESSWIRE / May 17, 2022 / NutraNomics, Inc. (OTC PINK:NNRX) ("NutraNomics" or the "Company"), an emerging leader in organic plant-based nutritional science and innovation, is pleased to announce its 100% acquisition of DHS Development, Inc. (d/b/a "The Plant"), and Affiliates.
"This transaction positions the Company for significant upside potential as an emerging leader in the vertically integrated cannabis products space," commented Jonathan Bishop, CEO of NutraNomics.
The Company's acquisition of The Plant includes the lease of a 30,000 square foot manufacturing and 28,000 square foot cultivation facility. In addition, NutraNomics has also already acquired over $2 million in related specialized equipment and continues to invest in productive hard assets for expanded operations involving extraction, production, and materials.
In 2021, The Plant generated $1.7 million in revenue operating from temporary facilities while the new building was under construction. During the first quarter of 2022, manufacturing was transitioned into the new facility, and the Q1 revenue run rate expanded to $879k (approximately $3.5 million on an annualized basis). The overall forecast for 2022 is $15 million in total top line sales, making the company cash flow positive through expanded product lines, including beverage powders, tablets, infused pre-rolls and concentrates. All necessary licensing is already in place for manufacturing, distribution, and sales of these new product lines.
Bishop added, "The Plant represents a vertically integrated operation with tremendous scalability. We look forward to providing more details in the very near future."
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.
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SOURCE: NutraNomics, Inc.