NutraNomics, Inc. Guidance Regarding Pending Acquisition of DHS Development, Inc. dba The Plant
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.
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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.
Details
News Market Reaction – NNRX
The recorded move for NNRX in the trading session of this news was +100.00%.
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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
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)
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