VANCOUVER, BC / ACCESSWIRE / May 27, 2021 / NeutriSci International Inc. ("NeutriSci" or the "Company") (TSX-V:NU, OTCQB:NRXCF, FRANKFURT: 1N9), an innovative technology company developing products, licensing IP and technology for B2B partnerships and the nutraceutical industry, is pleased to announce that it has completed the R&D required to successfully create functional beverages using its IP and Technology to enter the CBD beverage market.
NeutriSci now intends to add functional CBD beverages to its product offering and is currently completing the specific protocols required to finalize a beverage for its B2B partners, including Tabletz LLC.
The reduction in COVID-19 cases worldwide has restarted some of the Company's previously announced international B2B MOU arrangements. Discussions and plans to move these projects forward are underway. These discussions and plans have been expanded to include the potential for CBD beverages to compliment the sublingual melt technology included in the MOU's.
Pacwest Manufacturing Group Inc., NeutriSci's manufacturing partner, has announced that its bottling line will be fully operational in July 2021. This bottling line will help produce and showcase some of NeutriSci's IP and technology with production capacity exceeding 35,000 bottles per 8-hour shift.
The global cannabis beverage market is estimated to reach USD 2.8 billion, by 2025, and is projected to grow at a CAGR of 17.8% from 2019 to 2025, according to Million Insights*. The growing popularity of health and wellness beverages is projected to contribute to market growth. North America is projected to grow at the fastest rate during the forecasted period 2019-2025. This growth is mainly due to the legalization of cannabis infused products for recreational and medical purpose.
The consumer shift away from carbonated soft drinks to healthy drink alternatives is expected to drive demand for new cannabis beverages. Factors such as low carbs, and sugar content will ultimately raise demand within the beverage industry.
Glen Rehman, CEO of NeutriSci, commented, "We are excited about the possibilities that this new success brings to the Company. This new industry disrupting capability, coupled with our Technology and IP, is a major milestone for us in the preparation of anticipated B2B orders. We are looking forward to the added revenue potential generated from what the CBD beverage market will bring to the Company. We look forward to sharing more developments on this project as they become available."
* https://www.millioninsights.com/industry-reports/global-cannabis-beverages-market
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.
Glen Rehman
CEO
Tel: (403) 264-6320
For investor inquiries, please contact investors@neutrisci.com
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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
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