NeutriSci Provides Production Update and Partner Progress
VANCOUVER, BC, Oct. 12, 2021 /CNW/ - NeutriSci International Inc. ("NeutriSci" or the "Company") (TSXV: NU) (OTCQB: NRXCF) (FRANKFURT: 1N9), an innovative technology company developing products, licencing, IP, and technology for B2B partnerships and the nutraceutical industry, is pleased to provide the following update.
Tabletz: Production for packaging needed for the most recent Tabletz order is underway at the Company's partner facilities in Asia. While there continues to be supply chain challenges across every industry, the Company and its partners have made arrangements to ensure the packaging material needed to complete the order will be received in the facility on time. Processes to produce the Tabletz products are underway in North America. The product is still on schedule for shipping in mid-November. Tabletz LLC intends to have the completed product in Japan and out for distribution with its distribution partners for December. Further details on distribution partners will follow.
Cryopharm: Manufacturing of the first trial run with its Michigan partner Red Bud has been completed. The initial product run included gummies and the Marbl line of products. Red Bud has distribution in 275 locations. They own licences for infusion, grow, extraction, sales, and distribution. Scaling up on production to accommodate Red Bud's distribution network has begun. The Company is expected to realize revenue from its licencing arrangement with Cryopharm in Q4 2021. Cryopharm's Washington partner has begun production on the Marbl Line with expectation for it to be on the shelf in the next 45 days. The Company is expected to realize revenue from its licencing arrangement with Cryopharm in Q4 2021. Cryopharm has finalized a contract with an Oklahoma group. Cryopharm will be having meetings related to production and product roll out in the coming week. Once the production begins, the Company will receive licencing revenue from that as well. Timing on the start of production is unknown at this time.
Neuenergy: The Company has completed its latest production of tablets for the Neuenergy line. The latest production run will be making its way to its national distribution partner, ANB. ANB will be placing the product into its distribution channel across Canada. Some of the ANB retailers include Overwaitea, McKesson, Sobey's Safeway, Pharmasave, Guardian, Remedy's RX. The Company also intends to launch a bulk package containing 36 tabs and a refillable stick in Q4 2021. Sales for the bulk product will begin on the Company's website with an anticipated placement into the ANB distribution network at a future date.
About NeutriSci International Inc.
NeutriSci specializes in the innovation, production, and formulation of nutraceutical products. Established in 2009, NeutriSci's is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for its products offering co-branding as well as private label opportunities and contract manufacturing services. For more information, please visit: www.neutrisci.com.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE NeutriSci International Inc.
Company Codes: OTC-QB:NRXCF, Toronto:NU, Frankfurt:1N9, OTC-PINK:NRXCF, TorontoVE:NU
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