The processing site’s debut couldn’t come at a better time. Even though the COVID-19 pandemic has forced many businesses to close, or at least curtail operations, hemp-based-CBD sales remain strong as consumers still have ample access to products via e-commerce outlets. In addition, the Federal Drug Administration (FDA) is evaluating potential ways to allow CBD to be used as a dietary supplement and is looking to come up with enforcement discretion guidance.
“Our new facility is going to put us in a strong, solid position for future growth,” said Neutra CEO Sydney Jim. “We’ll be able to create new products, take advantage of economies of scale, build market share and innovate strategies to improve shareholder value. And, if the FDA does allow CBD as a dietary supplement, we’ll be able to quickly take action.”
CBD (aka cannabidol) is the non-psychoactive component of cannabis derived from hemp. CBD does not provide a high, as does THC (tetrahydrocannabinol). Consumers use hemp-based CBD oils, topical, lotions and supplements to achieve relief from pain and muscle discomfort, stress and anxiety, and insomnia.
The CBD market has enjoyed steady growth in recent years. This growth is fueled by legislation that made hemp-based CBD legal, as it is not considered a controlled substance.
CBD was one of 2019’s top-selling supplements. End-of-year sales topped $1 billion. Analysts predict sales reaching $10 billion by 2024 as its popularity with consumers soars.
NOTICE REGARDING FORWARD LOOKING STATEMENT
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.
SOURCE: Neutra Corp.