Business
NutraNomics, Inc. Announces Developments Relating To Acquisition of DHS Development dba The Plant
NutraNomics, Inc. Announces Developments Relating To Acquisition of DHS Development dba The Plant.
About this update from Nutranomics, Inc.
[{"type":"text","content":"PORTLAND, OR / ACCESSWIRE / April 5, 2022 / NutraNomics, Inc. (OTC PINK:NNRX) is pleased to share the following development news relating to the acquisition of DHS Development, Inc. dba The Plant.As a formal follow-up to the terms of the definitive merger agreement recently executed between NutraNomics and The Plant, the parties have been working closely and exchanging deliverables to officially move the newly merged organization forward in preparation for the formal closing. In the coming weeks, we look forward to sharing operational strategies as production transitions into the new facility, additional equipment assets are acquired and activated, and the hiring of key personnel critical to the organization are put into place.The combined organization is successfully capitalizing on the momentum established by The Plant over the course of the past few years. Powered by the influx of $1.1M of interim capital, the organization has been able to onboard new sales agreements, develop and manufacture additional products and services, and scale existing production capabilities. The Company is positioned for production across a suite of several new complimentary products, and is poised to accommodate additional client demand. The interim capital has already empowered the generation of significant additional revenue with more growth on the horizon. Sherratt Reicher, The Plant's Sr. Vice President of Business Development says, "We have been encouraged and excited about the immediate results and synergies of both organizations working together so far." Geoff Bazegian, NutraNomics' President and CRO states, "These immediate results are defining a prosperous future, with outstanding prospects for collaboration on future growth. We couldn't be better positioned."The Plant and its subsidiaries have been diligent, responsive and impactful in the years prior to the engagement with NutraNomics. The Plant's raising of capital for the construction of the 28,000 sq. ft. manufacturing facility, the pursuit of premier licensing, the acquisition of essential production equipment, and the on-boarding of key partners and personnel, have all led up to the formation of something very special coming into the acquisition. The millions of dollars of combined capital infusion by The Plant and NutraNomics will prove to be the spring board t...