Vancouver, British Columbia–(Newsfile Corp. – February 22, 2023) – Gaia Grow Corp. (CSE: GAIA) (FSE: GG00) (the “Company” or “Gaia”) is excited to announce that its wholly-owned subsidiary, TruExtracts Laboratories (“TRU”), is developing a products for the Canadian market with NeutriSci International Inc. (TSXV: NU) (FSE: 1N9) (“NeutriSci”).
Gaia’s wholly owned subsidiary TRU Extracts a Health Canada licensed extraction and production lab will develop and distribute the NeutriSci products under its licence for sale in the legal Canadian marketplace that also allows for export to other legalized global markets.
The revenue structure shared between each company will be dependent on the specifics of each SKU and its related distribution partner. Additionally, the Company will help coordinate and expedite the entrance of new SKU’s into Gaia’s already established distribution network in Canada.
This arrangement provides the Company with additional revenue streams and the immediate flexibility to assist in the creation of new product lines.
In all instances, SKU production will take place in TRU’s 30,000+ sq ft facility located in Alberta, Canada, and will be sold to third parties at a future date.
Frederick Pels, CEO of Gaia, said, “NeutriSci’s products are innovative and we are excited to bring them to the Canadian marketplace. We have assembled a strong and experienced team that will be able to achieve this goal. I look forward to working with the team at NeutriSci and bringing another revolutionary product to consumers.”
Glen Rehman, CEO of NeutriSci, said, “The completion of this transaction with Gaia opens the door to the now established market in Canada. With their existing sales and distribution pipeline, NeutriSci will now be entering into a market that has seen significant, consistent growth over the last few years. We look forward to bringing new products to the Canadian market very soon.”
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.
TruExtracts Laboratories was created for high-capacity extraction and production, to meet global demand. TRU is one of Western Canada’s largest cannabis and hemp processors, with a 12,500 square foot state of the art facility in Calgary. The facility is Health Canada licensed and fully operational, with an expansion capability of an additional 16,000 square feet. Services include toll processing, THC, CBD extractions and isolates, as well as white label service and cannabis THC and CBD products.
About Gaia Grow
Gaia Grow is an Alberta-based cannabis company with subsidiaries licensed for cannabis and hemp processing, extraction, product formulation, novel product development and cannabis retail.
For more information about the Company, please visit www.GaiaGrow.com.
For further information, please contact:
Frederick Pels, Chief Executive Officer
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as “appear”, “seek”, “anticipate”, “plan”, “continue”, “estimate”, “approximate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “would” and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the hemp industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
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