NutraNomics, Inc. (NNRX) Announces Establishment of UK and Domestic Subsidiaries for Expansion and Farming Opportunities Along with a New Huntington Beach, California Headquarters
Portland, OR, June 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- NutraNomics, Inc. (NNRX) announces establishment of UK and Domestic Subsidiaries for expansion and farming opportunities along with a new Huntington Beach, California Headquarters.
NutraNomics is please to announce the formation of our International Division and our first farming subsidiary in the United States.
NutraNomics UK LLC Limited is the newly formed, wholly owned, international presence for NNRX designed to encourage international partnerships and agricultural funding opportunities. Established in the United Kingdom, the entity will hold and transact our international opportunities by providing a more attractive home for international investment interests. We have secured significant investment opportunities that can fund large scale operations meeting specific criteria. NNRX is in the process of packaging farming opportunities to present, should we opt to exercise this source of funding. We are also reviewing and vetting several other opportunities for hemp cultivation internationally that fit the standards set by this funder. NutraNomics UK LLC Limited will be the entity for all Caribbean, South American, African and European farming operations currently under analysis. The phased approach to our ‘Eco-Campus’ entails tranches of expansion, starting with farming and expanding to extraction and greenhouses. This will provide NNRX with the opportunity to grow into the international markets as each country defines how they will handle sale and export of biomass, fiber and extracts associated with growing hemp.
“It is clear the market demand for hemp, both Medical and Industrial, will be no closer to being filled in 2019 and 2020. This shortage provides a unique opportunity for NutraNomics to respond to market demand while building out our farming and extraction,” says Jonathan Bishop, CEO of NutraNomics. “The potential legality and distribution issues that surround CBD extracts in the US, or at the very least the cloudy nature of FDA approval as compared to the international community, gives us the confidence that the diversification of our farming operations is not only right, it is necessary for the immediate and long term growth of the company.”
BioMedical Holdings, LLC is the first of our farming subsidiaries and will hold our initial farming opportunities. We should be in a position to announce specifics with regards to 2019 farming by mid-July. Our first domestic farming locations are anticipated to be primarily in the western United States. This acreage should be perfected shortly and will be announced when fully signed and funded.
NutraNomics continues to be one of the few, if not the only company approaching the hemp harvest with a dual approach to profit potential. The separation of cola (flowers) from stalk and stem at harvest provides ‘chunky biomass’ for extraction with higher CBD content than if processed with the whole plant, while rendering stalk and stem for use in the industrial market, something unique to the industry thus far. Other operations have separated the stalk from the cola and provide chunky biomass for extraction, but none are further processing the stalk and stem for sale to the commodities markets that need hemp. Our Wholesale Materials Division will be managing the sale of all products created in association with hemp cultivation efforts.
Expansion of our corporate footprint has begun with the establishment of new California Corporate Headquarters in Huntington Beach, CA. Future offices are planned for Orange County, new office location in Portland, OR, and our Wholesale Materials Sales Division in Worster, MA.
NutraNomics will announce our 2019 Shareholder Meeting once dates at the end of summer are identified.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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