Industrial Hemp Plants on NutraLife’s Contracted 10 Acre Field in Wisconsin Growing Fast
Coconut Creek, Florida, July 30, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — NutraLife Biosciences, Inc. (OTCQB: NLBS) (the “Company” or “NutraLife”) provides another promising update on the industrial hemp crop being grown and operated by Mike Hoyer and Zachary Trimble, operations manager of NutraLife’s subsidiary, PhytoChem Technologies, Inc. (“PhytoChem”).
Mr. Trimble says that “hemp plants are growing faster than ever,” according to his daily log on July 12, adding on the 26th that “this week has been all about weed management” and that “plants are still growing and look healthy overall.”
Pursuant to a Crop Operations Agreement with NutraLife’s wholly owned subsidiary, PhytoChem, the Company purchased and Hoyer planted approximately 20,000 industrial hemp seedlings in June. PhytoChem plans to commercialize the Crop using its two licenses from the Wisconsin Department of Agriculture to grow and process industrial hemp within the state.
“Mike and Zachary are doing an amazing job,” says NutraLife’s Chief Executive Officer and President, Edgar Ward. “Their work not only ensures a rich harvest with this Crop, but also generates valuable data and insight to expand our crops and footprint in 2020.”
Driven by its mission to bringing high quality, effective and beneficial nutrients to market, NutraLife continues to strengthen its vertical positioning within the hemp industry. NutraLife’s operations include industrial hemp cultivation and processing, product research and development, retail sale of its own branded products and affiliate and private label wholesale.
Underpinning this strategy, NutraLife’s new commercial extraction equipment known as the Ennea Processor is presently being manufactured and will be used to process the industrial hemp crop grown in Wisconsin. The Ennea Processor targets and extracts bioactive compounds from whole-plant hemp crops and streamlines production times and maximizes extraction yields.
“The cultivation is progressing very well and we expect the processing systems to be operating at our facilities no later than October of this year. We expect to be very well positioned to distribute high quality phytocannabinoid rich products to our customers and our private label partners,” explains Ward.
About NutraLife BioSciences
Edgar Ward founded NutraLife in 2010 as NutraFuels, Inc. and since that time he has served as its Chief Executive Officer, President, and Director. Under Mr. Ward’s direction, NutraLife’s revenues increased from $225,000 in 2016 to more than $3.7 million in 2018. NutraLife’s Coconut Creek manufacturing facility has been registered with the Food and Drug Administration, and its manufacturing facility has operated in accordance with the Good Manufacturing Processes Standard (GMP) for more than five years. NutraLife’s products are tested by its in-house laboratory chemists for strength, purity and contaminants such as heavy metals, pesticides, and solvents. NutraLife offers seventeen different core formulations, which it modifies to meet the specifications of its private label customers. NutraLife provides approximately 50 different variations of its core formulations. NutraLife’s private label products include CBD infused oral sprays, tinctures, pet drops, pain balms, face creams, and nutraceutical oral spray products that support daily health and wellness uses.
This press release contains statements of a forward-looking nature about NutraLife BioSciences, Inc. (“NutraLife” or the “Company”). These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. The Company has based these forward-looking statements largely on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect the Company’s financial condition, results of operations, business strategy and financial needs. There is no assurance that the Company’s current expectations and projections are accurate or that the Company’s plans to process hemp with GEG will be successful. All forward-looking statements in this press release are based on information available to the Company on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors are set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission on April 2, 2019. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on the Company’s business or the extent to which any factor or combination of factors may cause actual results to differ from those contained in any forward-looking statements. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under SEC guidelines.
NutraLife BioSciences, Inc.
6601 Lyons Road, Suite L-6
Coconut Creek, FL 33073