Business
NutraNomics, Inc. Announces Acquisition Closure of DHS Development, Inc. dba The Plant
NutraNomics, Inc. Announces Acquisition Closure of DHS Development, Inc. dba The Plant.
About this update from Nutranomics, Inc.
[{"type":"text","content":"PORTLAND, OR / ACCESSWIRE / March 29, 2022 / NutraNomics, Inc. (OTC PINK:NNRX) is pleased to announce that it has signed a definitive merger agreement related to the acquisition of DHS Development, Inc. dba The Plant, of Desert Hot Springs, CA. The parties anticipate exchanging closing deliverables to officially close the acquisition in the coming days. The agreement contemplates the purchase of 100% of The Plant's assets, operations and IP. As such, DHS Development, Inc. dba The Plant will be operated as a wholly-owned subsidiary of NutraNomics, Inc., and all applicable CA State licensing and regulatory credentials will remain under DHS Development, Inc. dba The Plant as a California-based company. With this acquisition, NutraNomics and The Plant will combine resources and strive to become an industry leader in the research, development and manufacture of plant-based products to the California market, with large production capabilities designed for efficient, low-cost production and scalability. The combined management team and key personnel combine for more than forty years of experience in cannabis cultivation, extraction, manufacturing, and product innovation.Acquisition assets include California licensing for cannabis cultivation, manufacturing, and distribution, including an active Type 7 manufacturing license which allows for extraction practices utilizing volatile, non-volatile and solventless extraction methods, including additional post-processing activities. As California's most robust manufacturing license type, the Type 7 license enables holders to perform all types of extraction and manufacturing practices, providing bearers with a definitive level of differentiation in the California market. Empowered by the NutraNomics capital infusion, The Plant is investing in necessary equipment that will enable broad production capabilities for innovative formulation and delivery methods. Production capabilities include a highly diverse array of innovative product categories including capsules, tablets, beverage products, concentrates, edibles, inhalables and topicals. In addition to production capabilities across most product types, complimentary manufacturing services are also available such as white label and private label development, contract packaging, biomass sourcing, full distribution services and R&D.NutraNomics...