NEUTRISCI PROVIDES UPDATE ON WASHINGTON STATE APPROVAL AND EXPANSION INTO OKLAHOMA
VANCOUVER, BC / ACCESSWIRE / December 10, 2020 / NeutriSci International Inc. (“NeutriSci” or the “Company”) (TSX-V:NU) (OTCQB:NRXCF) (FRANKFURT:1N9), an innovative technology company developing products for the nutraceutical industry, is pleased to provide an update on the latest developments with its US manufacturing and distribution partner, Cryopharm Corp. (“Cryopharm”).
The Department of Agriculture in the State of Washington has given its approval for the manufacturing, distribution and sale of the entire Cryopharm product line which is powered by NeutriSci’s ingredients and technology. The approved products include Marbl Melts™, Kali Juice™, Café Maria as well NeutriSci’s Kushtabs™ and Zenstix™. Distribution and sales of the products are expected to start in Q1/2021. The products will be dispensed in approximately 400 locations across the State of Washington.
Washington state has seen gross sales of cannabis products grow exponentially over the past 5 years; starting in 2014 with sales of $31 million exploding to over a billion in 2019.
NeutriSci is also pleased to announce that Cryopharm has signed a definitive agreement with a contract manufacturer to manufacture, distribute and sell the product lines in the State of Oklahoma. Production, distribution and sales are expected to take place in Q1/2021. Like Washington, sales will include Marbl Melts™, Kali Juice™, Café Maria as well NeutriSci’s Kushtabs™ and Zenstix™. All of which are using NeutriSci’s ingredients and technology.
Oklahoma is home to the second most dispensaries per capita, which equals 15.6 dispensaries per 100,000 residents. In 2019, the first full year of Oklahoma cannabis sales, the total number of sales reached $365 million. The sales amount is estimated to increase to $950 million by 2025. By comparison, Pennsylvania is estimating $770 million in 2025.
Glen Rehman, CEO of NeutriSci, stated: “We are very pleased that the Department of Agriculture has approved our ingredients, technologies and form factors for the distribution and sale of the products in the State of Washington. While sales in California are picking up, we are equally excited that the Oklahoma deal has been completed and will open the door to another lucrative state with increasing sales and distribution. We will continue to expand the brands into additional US states over the coming months.”
NEUTRISCI INTERNATIONAL INC.
Tel: (403) 264-6320
For investor inquiries, please contact firstname.lastname@example.org
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.
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 neuenergy®, the Company’s natural energy and focus supplement that has at its core, the beneficial effects of blueberries.
Neuenergy® contains a unique patented combination of blueberry extract (pterostilbene) and naturally derived caffeine, and is a revolutionary energy tab designed to deliver enhanced focus and mental clarity with no sugar, no calories and no crash associated with typical energy products. To find out more about neuenergy®, please visit www.getneuenergy.com.
For more information, please visit: www.neutrisci.com.
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.