SUGAR LAND, TX / ACCESSWIRE / April 13, 2020 / Neutra Corp. (OTC PINK:NTRR) remains focused on its vertical integration plan, even as most of the rest of the world has shut down thanks to the COVID-19 pandemic. The company is concentrating on obtaining the equipment it will need to process hemp and turn it into usable and compliant CBD medicinal products once it gets a hemp-handling license from the state of Texas.
"We've already started the equipment acquisition process and are moving steadily forward in construction of our new Houston facility," said Neutra CEO Sydney Jim. "Like everyone, we're concerned about COVID-19, but we also have important work to do to keep Neutra progressing towards its long-term goals. That means we want to be up and running as soon as we receive a license to serve our growing customer base and generate value for our investors."
Neutra was one of the first to submit an application last month when the Texas Agriculture Department (TDA) opened its online portal for hemp-handling licenses. A hemp-handling license will allow Neutra to legally cultivate its own hemp versus having to buy it from outside sources. It will also be a big step forward in the company's vertical integration as it will be able control the process from cultivation to manufacture to marketing. Application review and approval is estimated to take up to 60 business days, according to the TDA.
Neutra's efforts to acquire equipment have been helped by a fresh influx of private equity funding. It's also looking to integrate technology into its CBD production efforts.
The Hemp Business Journal has forecasted that sales of hemp-derived products will reach $22 billion by 2022. Last year, that same market posted sales of $390 million.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
Neutra Corp. (NTRR) is an early-stage research and development company that's bringing modern healthy living solutions to a multi-billion dollar market. Cutting-edge technologies within the nutraceuticals, food and drug, and environmental purification sectors are creating a new kind of world culture-one where consumers are demanding access to products that promote health and stave off potential health dangers. One of the nutraceutical sub-markets is the new thriving Hemp-based CBD market, in which we intend to participate.
CONTACT:
Sydney Jim
888-433-4033
info@neutrainc.com
SOURCE: Neutra Corp.
View source version on accesswire.com:
https://www.accesswire.com/584851/Neutra-Busy-Acquiring-Equipment-in-Anticipation-of-Issuance-of-Texas-Hemp-Handling-License
