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DGAP-News: NutraLife Biosciences, Inc. / Key word(s): Miscellaneous
NutraLife BioSciences, Inc. Orders Its First Ennea Processor Under Its Exclusive Agreement with Owen J. Morgan for Use in Wisconsin
17.06.2019 / 09:29
The issuer is solely responsible for the content of this announcement.
NutraLife BioSciences, Inc. Orders Its First Ennea Processor Under Its Exclusive Agreement with Owen J. Morgan for Use in Wisconsin
NutraLife BioSciences, Inc. Orders Its First Ennea Processor Under Its Exclusive Agreement with Owen J. Morgan for Use in Wisconsin
Coconut Creek, FL -- . (OTCQB: NLBS) (the "Company" or "NutraLife") announces that its subsidiary, PhytoChem Technologies, Inc. ("PhytoChem"), has placed the first order under its exclusive agreement with Owen J. Morgan for a commercial machine which it intends to use to process industrial hemp grown in Wisconsin. On March 14, 2019, NutraLife announced it had received two licenses from the Wisconsin Department of Agriculture to grow and process industrial hemp within the state.
The Ennea Processor targets and extracts bioactive compounds from whole plant hemp crops and streamlines production times and maximizes extraction yields while retaining the cellular and fiber integrity of the plants for further applications. Ennea's system of pure oils recovery eliminates the need for secondary recovery methods.
"The Ennea Processor will process NutraLife's industrial hemp biomass, and we will offer tolling services to other licensed growers," says NutraLife's Chief Executive Officer and President, Edgar Ward.
The order follows the successful demonstration and trial of the first working prototype of the Ennea Processor at NutraLife's facilities earlier this month. The new results confirm full spectrum extraction of all bioactive compounds, including all terpenes. On the certified industrial hemp crop trials, Ennea extracted on average over 30% higher yields than was previously thought existing in the cannabinoid group.
"Quantitative lab results, following over 20 days of live trials with the Ennea prototype at NutraLife's facilities, demonstrate the true ability of the Ennea Processor. We believe that Ennea will change bioactive compound extraction. I am excited to be working with NutraLife to develop the industrial hemp extractive market in North America," said Owen J. Morgan.
The PhytoChem Ennea Processing Plant in Wisconsin is the first of NutraLife's contracted growers for the 2019 growing season.
About
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 thirteen 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.
Forward-Looking Statements
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," "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 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 guidlines.
Company Contact:
NutraLife BioSciences, Inc.
6601 Lyons Road, Suite L-6
Coconut Creek, FL 33073
Telephone 888-509-8901
Keywords:
industrial hemp, hemp, Ennea Processor, Wisconsin Department of Agriculture, PhytoChem Ennea Processing, NutraLife BioSciences
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17.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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