- long-term growth strategy for second-largest medical cannabis market in Asia
- we anticipate further orders based upon our initial market interest
VANCOUVER, BC / ACCESSWIRE / January 18, 2021 / NeutriSci International Inc. ("NeutriSci" or the "Company") (TSX-V: NU, OTCQB: NRXCF, FRANKFURT: 1N9), an innovative technology company developing products for the nutraceutical industry, is very pleased to announce the details regarding its first large order for the TABLETZ brand in Japan.
NeutriSci and TABLETZ have been working together for months to formulate a product for the Japanese marketplace. This, its first large scale purchase order, completes many months of planning and preparation, including procurement of the product ingredients, ordering and receipt of custom manufacturing equipment, packaging approvals, health ministry approvals, final mold productions, and the overall alignment of the logistical network.
This initial order consists of several hundred thousand units of both the 3 and 7 tab TABLETZ sticks. The Company will supply each flavor of its product line - Lemon, Berry, and Mint. The plan is for TABLETZ to be launched in up to 46,000 locations in Japan. Details of store distribution in Japan are still being finalized.
Both companies have also been working to complete the design and planning for the upcoming launch of a bulk bottle format of TABLETZ. This SKU will consist of a 35 tablet (500mg) bottle and will be available in all 3 flavor varieties, Berry, Mint and Lemon. Although this SKU was not included in the initial purchase order, but is expected shortly as part of a second order.
We must note that Tabletz LLC. is awaiting the customs classification (HS code) at the port of entry. That process is still underway and we believe will be completed imminently.
With huge buying power and a strong health care system, Japanese people are advocating plant-derived health care products, which makes products such as TABLETZ extremely popular in the Japanese market.
According to Prohibition Partners' Asia Cannabis Report, Japan will become the second-largest medical cannabis market in Asia with a scale of $800 million USD.
Glen Rehman, CEO of NeutriSci, commented: "We are very pleased to have received the initial purchase order for the TABLETZ brand. Both companies believe we can attain a significant percentage of the CBD market in Japan. Currently, there is no other product like this on the market. With product approvals in hand, a pause on new application approvals at the ministry level combined with the features and benefits of the product itself as well as a strong distribution network and positive initial consumer feedback, there is a strong confidence that TABLETZ can be one of the #1 selling CBD brands of its kind in Japan. We anticipate shipping this order in the current quarter. Thanks to Tabletz LLC., and all those that have helped to bring this project to fruition."
The Company also announces that it has granted a total of 1,400,000 incentive stock options to certain directors, officers, consultants and employees of the Company. The options have an exercise price of $0.15 per share and expire in 5 years.
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 neuenergy®, the Company's natural energy and focus supplement that has at its core, the beneficial effects of blueberries. For more information, please visit: www.neutrisci.com.
On Behalf of the Board of Directors of
NEUTRISCI INTERNATIONAL INC.
Tel: (403) 264-6320
For investor inquiries, please contact [email protected]
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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