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NutraLife Biosciences Inc. (OTC:NLBS), a manufacturer and distributor of private label and branded nutraceutical and skincare products, has entered into a strategic partnership with CRP.

A press release by the company on February 6 explained that CRP would provide NutraLife with branding and marketing guidance under the agreement terms while NutraLife becomes a preferred partner of CRP.

The partnership could be strategic in NutraLife’s quest to expand its hold in the cannabidiol (CBD) space.

CBD has become one of the fastest-growing wellness products globally, reaching more than $11 billion in global sales in 2021. According to Market Data Forecast, these sales are projected to continue to grow at a 22.2% annual pace to nearly $31 billion by 2026.

Grand View Research also said the global CBD market is projected to grow from $2.8 billion in 2020 to $13.4 billion in 2028, representing a 21.2% compound annual growth rate (CAGR). Analysts also believe that the industrial hemp market will grow at a comparable 16.2% CAGR to reach $12.1 billion by 2028.

As a result of this positive outlook for the industry, companies like NutraLife, GrowGeneration Corp. (NASDAQ:GRWG), Neptune Wellness Solutions Inc. (NASDAQ:NEPT), and others are looking to build an ever-larger presence in the industry.

Expanding Into Hemp-Derived CBD

NutraLife began expanding into hemp-derived CBD in 2018. Since then, the company has built a vertically-integrated presence in the CBD industry with experience growing in Wisconsin through partnerships with geneticists and master growers of high-quality indoor organic hemp flower.

The company also has current good manufacturing practice (cGMP) facilities in Florida and a growing list of in-house and private-label CBD brands.

In the press release Edgar Ward, NutraLife CEO, said, “NutraLife is a leading manufacturer of ingestible and skincare products using breakthrough, nutrient-rich formulations with the most effective ingredients and delivery systems available in the nutraceuticals industry.”

In conjunction with recent private-label agreements, the company is in the process of expanding its manufacturing operations and capabilities to accommodate the production of several new products expected to be released in the near future.

These products include NutraLife’s immune booster drink shot infused with cannabigerolic acid (CBDA). CBDA, along with cannabidiolic acid (CGBA), has been found to “bind to the SARS-CoV-2 spike protein, blocking a critical step in the process the virus uses to infect people,” Steve Lundeberg, Oregon State University.

Uplisting To The OTCQB

NutraLife has also reported preparing an application for a planned uplisting to the OTCQB, with the objectives of increasing its visibility and exposure within the North American financial community and creating additional value for shareholders.

“It’s an exciting time for NutraLife shareholders as we announce new partnership agreements with industry leaders and scale-up operational capacity to expand our in-house product line-up,” Ward said.

The preceding/following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and Skyline Corporate Communications Group, LLC, a financial partner of Benzinga. This article/video is a paid sponsorship by investor relations agency Skyline Corporate Communications Group, LLC, which is paid by NutraLife Biosciences (OTC:NLBS) for providing investor relations and corporate communications services relating to the Company’s securities. Please see Skyline's 17(b) Disclaimer and Disclosure Statement here: https://skylineccg.com/disclosures/. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content that follows is for informational purposes only and not intended to be investing advice.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

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