NutraNomics Inc. (OTCMKTS:NNRX) was up 33% after announcing the completion of a formal purchase of DHS Development Inc. dba The Plant. NutraNomics has pledged a minimum initial investment of $6.5 million in a 12-month distribution schedule using Regulation A as a fiscal instrument.
Trading Data
On Thursday, NNRX stock soared 33.33% to $0.0004 with more than 242.53 million shares traded, compared to volume of 209.70 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trading at $0.0004.
NutraNomics, Inc. Finalizes Acquisition of DHS Development, Inc. dba The Plant and its Affiliates
The funding will be used to buy critical manufacturing equipment, make tenant improvements to production and growing facilities, the fund increased labor needs, and support the continued procurement of raw components for use in the production process.
As a type of “stock swap,” NutraNomics stock holdings were offered to current shareholders of The Plant in return for 100% of The Plant. The three majority shareholders of The Plant will continue to serve as top leadership officers for the company. These individuals have considerable senior management experience as well as in-depth expertise in food and plant-based technologies. Furthermore, they will all be appointed to the NutraNomics Board of Directors. So investors should keep an eye on NNRX in the coming weeks.
Key Quote
“The organization is poised for a great start.”, says Jonathan Bishop, NutraNomics’ CEO. “Our core leadership is among the very best in this industry in their respective fields, and we couldn’t be better positioned for success into the future”.
Technical Data
NNRX stock is trading below the 20–Day and 50-Day Moving averages of $0.0004 and $0.0004 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0006.
