Nutranomics Inc (NNRX)

[azco_com]

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."