DESERT HOT SPRINGS, CA / ACCESSWIRE / September 20, 2022 / NutraNomics, Inc. (OTC PINK:NNRX), an emerging leader in organic plant-based nutritional science and innovation, and The Plant (www.theplantlabs.com), a NutraNomics company, is pleased to report that it successfully retired a portion of its debt, and secured an ongoing line of credit to support its growing operational needs and increasing production resource requirements.
NutraNomics has recently successfully converted $500,000 of debt to NNRX equity, while attaining a new $400,000 credit line with enhanced terms. The new facility will provide the Company with critical financial resources in order to brace its growing production and manufacturing needs.
"Concurrent with our consistent efforts to increase sales and grow the business, we're making every effort possible to optimize the Company's financial health. This is just one example of how we will always maintain balance between financial necessity and sensibility", commented Jonathan Bishop, NutraNomics' CEO. "This credit facility will provide us with the necessary resources to prudently scale our production to meet the increasing demand of our growing customer base."
NutraNomics looks forward to more announcements relating to the optimization of its financial health. More news to follow.
About NutraNomics
At NutraNomics, Inc. (OTC PINK:NNRX), we are committed to excellence in organic plant-based nutritional science and innovation. That was our stance when we began in 1996, and it is still our stance today.
NutraNomics Website: https://www.nutranomics.com
NutraNomics Twitter: https://www.twitter.com/nutranomicsinc
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Press Contact:
Geoff Bazegian, IR@nutranomics.com
SOURCE: NutraNomics, Inc.
View source version on accesswire.com:
https://www.accesswire.com/716816/NutraNomics-Announces-Debt-Restructuring-and-New-Credit-Facility
