COCONUT CREEK, FL, Jan. 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – NutraLife Biosciences Inc. (OTC: NLBS) announces a feature article released by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, covering NutraLife’s rapidly growing expansion plans.
CBD has become one of the fastest-growing wellness products globally, reaching more than $11 billion in global sales last year. According to Market Data Forecast, these sales will continue to grow at a 22.2% annual pace to nearly $31 billion by 2026. As a result, companies building an early presence in the industry could be in a great position to profit.
NutraLife Biosciences Inc. (OTC Pink: NLBS) began expanding into hemp-derived CBD in 2018. Since then, the company has built up a vertically-integrated presence in the CBD industry with experience growing in Wisconsin, partnerships with geneticists and master growers of high-quality indoor organic hemp flower, cGMP manufacturing facilities in Florida, and a growing list of in-house and private-label CBD brands.
In this article, we'll look at the company's CBD footprint and its recent progress to expand into the rapidly growing industry.
Vertically-Integrated Manufacturer
NutraLife Biosciences subsidiary, PhytoChem Technologies, and its partners, cultivate, harvest, process, and distribute high-quality hemp flower. The company's cultivation partners are based in Wisconsin, where they have hemp licenses from the Department of Agriculture.
Currently, the company offers 13 different core formulations and 50 variations of those formulations for private label customers, including CBD-infused oral sprays, tinctures, pet drops, pain balms, and face creams. The company also offers a range of non-CBD products, including anti-bacterial sprays and gels, immune supplements, and bug patches.
From Private-Label to Brands
NutraLife Biosciences recently partnered with KOR Medical to develop a line of CBD-infused wellness products. In December, the company completed an initial order for four ingestible products, including KOR Calm, KOR Health, KOR Relief, and KOR Sleep, which are already for sale to consumers on KOR's online platform.
NutraLife's private label items are already for sale on KORMedical.com. Source: KOR Medical
Through these kinds of agreements, the company could generate recurring revenue from repeat contract manufacturing. The company is also leveraging its experience launching and distributing products to expand its own product lines, including a cannabinoid-infused beauty and wellness product line.
Finally, the company's scientists are constantly pushing the envelope when it comes to innovative delivery systems. For instance, its INVISIPATCH is a bug patch technology designed to deter mosquitoes and other biting insects. The company also developed an antiseptic spray for export to Indonesia to minimize viral loads in the mouth.
Looking Ahead
NutraLife Biosciences Inc. (OTC Pink: NLBS) has spent the past couple of years building a compelling presence in the CBD business with multi-state resources including Wisconsin and manufacturing facilities in Florida. In addition to building out its CBD business, the company continues to push the envelope with new products in diverse sectors.
Forward-Looking Statements
This press release contains statements of a forward-looking nature about NutraLife Biosciences, Inc. (the “Company”). You can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. The Company has based these forward-looking statements primarily on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect Company’s financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company’s current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company’s information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors is set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission on June 24, 2021. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.
Contact:
NutraLife BioSciences, Inc.
6601 Lyons Road, Suite L-6
Coconut Creek, FL 33073
Telephone 888-509-8901
www.NutraLifeBioSciences.com