NutraLife Biosciences, Inc. Enters Into Joint Venture with Henning Trading LLC to Cultivate and Process Hemp for 2019 U.S. Grow Season
Coconut Creek, FL – (NewMediaWire) – April 11, 2019 – NutraLife Biosciences, Inc. (the “Company” or “NutraLife”) (OTCQB: NLBS) announces that its wholly-owned subsidiary, PhytoChem Technologies, Inc. (“PhytoChem”) has entered into a joint venture with Henning Trading LLC (“Henning Trading”). NutraLife and Henning plan to cultivate, harvest and process hemp initially in Wisconsin for the 2019 grow season. NutraLife recently announced that it had received licenses from the state of Wisconsin to grow and process hemp.
NutraLife’s joint venture with Henning Trading will be under the direction of NutraLife’s Chief Executive Officer and President, Edgar Ward, and Henning’s President, John Henning Jr., its Chief Operating Officer, Adam Bilbrey, its Chairman, John Bilbrey and its sales director, Michael Ward. Henning and PhytoChem plan to pursue opportunities for the cultivation, harvesting, processing and distribution of high-quality bulk and raw bulk material supply of Phytocannabinoid CBD rich hemp finished goods. In addition, NutraLife and Henning Trading will explore participation in the hemp seed propagation, fiber and grain markets.
“We are pleased to have finalized our agreement with Henning Trading and look forward to working with John Henning and Adam Bilbrey to pursue the Company’s vertical positioning within the hemp industry. We look forward to continued growth and new opportunities in the Nutraceutical, Hemp and Life Sciences markets as we enter the second quarter of 2019,” said Edgar Ward, CEO and Founder of NutraLife.
About NutraLife BioSciences
NutraLife was founded by Edgar Ward in 2010 as NutraFuels, Inc. and since that time he has served as its Chief Executive Officer, President and Director. Under Mr. Ward’s direction, NutraLife’s revenues increased from $225,000 in 2016 to more than $3.7 million in 2018. NutraLife’s Coconut Creek manufacturing facility has been registered with the Food and Drug Administration and its manufacturing facility has operated in accordance with the Good Manufacturing Processes Standard (GMP) for more than five years. NutraLife’s products are tested by its in-house laboratory chemists for strength, purity and contaminants such as heavy metals, pesticides, and solvents. NutraLife offers thirteen different core formulations which it modifies to meet the specifications of its private label customers. NutraLife provides approximately 50 different variations of its core formulations. NutraLife’s private label products include CBD infused oral sprays, tinctures, pet drops, pain balms, face creams, and nutraceutical oral spray products for sleep support and weight loss packaged under the customer’s brand names.
About Henning Trading LLC
Henning Trading LLC (“Henning Trading” or “Henning”) was founded in 2018 by John Henning Jr., Adam Bilbrey, and Henning’s Chairman, J.P. Bilbrey. J.P. recently retired as Chairman, CEO and President of The Hershey Company (HSY). Henning was founded to provide logistics, sourcing and extraction production for industrial hemp.
John Henning, Jr. is a graduate from the University of Mississippi with a Bachelor of Science. John owns and operates Henning farm in Kingman, Kansas that has been in the Henning family for 4 generations. Using the experience and knowledge he gained from his family’s farming operations, John entered the industrial hemp market focusing on growing methods and cultivation and is considered a master grower.
Adam Bilbrey is a co-founder and President of Rental Geek, Inc, a company that revolutionized the off-campus student real estate rental market. Adam is also a co-founder and active officer at Famous Vape, Inc and a co-founder and majority partner at iMed Delivered, Inc. Adam holds a Master’s in Business Administration and Bachelor of Science in Business from Kansas State University.
Mr. John P. Bilbrey, also known as J.P. serves as Member of Board of Directors at Elanco Animal Health Incorporated since March 13, 2019. He was Non-Executive Chairman of The Hershey Company since April 2, 2015 until May 02, 2018. Mr. Bilbrey served as the Chief Executive Officer and President of The Hershey Company from May 17, 2011 to March 1, 2017. Mr. Bilbrey served as the Chief Operating Officer and Executive Vice President of The Hershey Company from November 2, 2010 to May 17, 2011. He served as the President of North America at The Hershey Company from December 2007 to November 2010 and served as its Senior Vice President from November 2005 to November 2010. Mr. Bilbrey has more than 20 years of international consumer sales and marketing experience at Procter & Gamble, which included several overseas assignments. He served as the President of International Commercial group from November 2005 to December 2007 and Senior Vice President of Hershey International from 2003 to December 2007 at The Hershey Company. Mr. Bilbrey served as an Executive Vice President of Sales of Mission Foods since 2003; and served as the President, Chief Executive Officer and Executive Vice President of Retail Sales of Danone Waters of North America, Inc., a division of Groupe Danone, Paris since 2001; Owner and Operator of Commercial Cattle Operations of Bilbrey Farms and Ranch since 1999 and Director of Corporate Sales, Taiwan – Procter & Gamble Company since 1998. He served as an Independent Director of McCormick & Company, Incorporated from November 2005 to May 27, 2015. Mr. Bilbrey has been an Independent Director at Colgate-Palmolive Company since March 13, 2015. He was a Director of The Hershey Company since June 2011 until May 02, 2018. He holds a Bachelor’s Degree in Psychology from Kansas State University.
This press release contains statements of a forward-looking nature about NutraLife BioSciences, Inc. (“NutraLife” or the “Company”) and Henning Trading, LLC. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “except,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. The Company has based these forward-looking statements largely on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect the 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 or that the Company’s plans to cultivate, harvest and process Hemp with Henning Trading will be successful. All forward-looking statements in this press release are based on information available to the Company 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 are 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, 2018 filed with the Securities and Exchange Commission on April 2, 2019. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on the Company’s business or the extent to which any factor, or combination of factors may cause actual results to differ from those contained in any forward-looking statements. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applies.