NutraLife Biosciences Encouraged By CVS Health Corporation’s Decision to Distribute CBD at 800 Stores in the U.S.
Summary: CVS Health Corp. announces it will carry cannabidiol, also known as CBD, the non-psychoactive derivative of hemp in about 800 stores across the US.
NutraLife Biosciences, Inc. (“the Company” or “NutraLife”) (OTCQB: NLBS) notes current trends in the retail space including CVS Health Corp.’s announcement that it will carry products containing CBD derived from hemp in about 800 of its U.S. drugstores.
NutraLife announces new additions to its NutraHempCBD product line with a micro shot CBD twists in 5 of its signature formulations including; sleep, pain, stress, weight, and sleep. The NutraHempCBD twists are designed for on-the-go convenience and set to launch on April 15 of this year.
“It is encouraging to see that mainstream retail giants like CVS are offering hemp derived CBD products to consumers,” said Edgar Ward, Founder and Chief Executive Officer of NutraLife Biosciences.
NutraHempCBD is in the last stages of development of its CBD micro shot twist products offering a single serving of CBD plus other clinically tested ingredients for daily health and wellness applications. The launch of the CBD micro shot twists in its 5 signature formulations demonstrate evolving and innovative retail-ready nutraceutical and industrial hemp CBD products.
Since 2013, the Company has engaged in the manufacturing and distribution of nutraceutical products for both branded and private label sales. In 2017, the Company launched its industrial hemp CBD products for private label sales and its own NutraHempCBD brand. The Company’s products are sold at a variety of retailers including drugstores.
According to reports, executives on Curaleaf’s earnings conference call said CVS would begin to carry its Curaleaf hemp lotions and transdermal patches in about 800 stores across 10 U.S. states. Chief Executive Officer of CVS, Joe Lusardi said Wednesday that the products would be available in stores by this Friday and through the CVS website “soon.”
On December 20, 2018, the U.S. Food and Drug Administration completed an evaluation of three generally recognized as safe (GRAS) notices for hemp seed-derived food ingredients. The agency concluded that hulled hemp seed (GRN765), hemp seed protein powder (GRN771), and hemp seed oil (GRN778) are GRAS as they contain only trace amounts of THC and CBD. The GRAS notices are for three different hemp seed-derived ingredients for certain uses including adding them as a source of protein, carbohydrates, oil, and other nutrients to beverages (juices, smoothies, protein drinks, plant-based alternatives to dairy products), soups, dips, spreads, sauces, dressings, plant-based alternatives to meat products, desserts, baked goods, cereals, snacks and nutrition bars. The FDA’s complete release of the GRAS notice can be read here.
NutraLife BioSciences is a fully reporting company with a class of securities registered with the U.S. Securities and Exchange Commission (“SEC”). NLBS recently announced its financial results for the three (3) and nine (9) month period ended September 30, 2018 with revenue of $1,062,146 and $2,870,462 respectively compared to $652,385 and $1,027,727 for the three (3) and nine (9) month period ended September 30, 2017. NLBS’s filings with the SEC can be viewed at www.sec.gov. NLBS’s CBD products and information about the Company’s direct sales program can be found online at https://nutrahempcbd.com and by following the company on Instagram.
* The statements in this Release have not been evaluated by the Food and Drug Administration.
* NutraLife’s CBD and nutraceutical products are not intended to diagnose, treat, cure or prevent any disease.
* NutraLife is not affiliated with and has no association with Curaleaf or CVS Health Corp.
This communication from NutraLife BioSciences, Inc. (the “Company”) contains statements of a forward-looking nature. 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,” “except,” “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 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. 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 with the Securities and Exchange Commission on April 17, 2018. 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 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 statement. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.
NutraLife Biosciences, Inc.
6601 Lyons Road
Suite L-6 Coconut Creek
FL 33073 Telephone