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HEXO reports over $16.2 million in total gross revenue in the second quarter of fiscal 2019

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Key highlights of second quarter of 2019 fiscal year
Gross revenue increased 1,269% as compared to the second quarter of fiscal 2018 and increased144% from the first quarter of fiscal 2019Gross adult-use revenue in Q2 exceeded revenues for the 2018 fiscal year by 200%4,938 kg of dried cannabis produced, an increase of 39% over the first quarter of fiscal 2019 2,689 kg of gram and gram equivalents sold, an increase of 142% quarter over quarterBegan trading on the NYSE American (“NYSE-A”) in January, 2019 under the symbol “HEXO”  Over $54.2 million in net proceeds raised through a marketed public offering co-led by the Canadian Imperial Bank of Commerce (“CIBC”) and the Bank of Montreal Subsequent to quarter end, HEXO entered an agreement to acquire Newstrike Brands Ltd.GATINEAU, Quebec, March 14, 2019 (GLOBE NEWSWIRE) — HEXO Corp (TSX:HEXO; NYSE-A:HEXO) (the “Company”) is reporting its financial results for the second quarter of the 2019 fiscal year, the Company’s first full quarter following the legalization of adult-use cannabis in Canada. Total gross revenue for the quarter reached $16.2 million, an increase of 144% from the previous quarter.“This is an exciting time for HEXO as we continue to achieve milestones on the way to becoming a top two cannabis company,” said HEXO Corp CEO and co-founder, Sebastien St-Louis.“This quarter not only saw an exponential increase in gross revenue and production, but also saw us continue to execute on our promises including reaching a construction and licensing milestone on our 1,000,000 sq. ft. greenhouse expansion and listing on the NYSE-A. Just yesterday, we announced an agreement to acquire Newstrike Brands Limited. HEXO’s future is very promising, I am looking forward to continually driving shareholder value and achieving milestones with our team.”Other financial highlights from the quarter include:Over $13.4 million in net revenueMade first investment tranche for a 33% interest in the Greek joint venture HEXOMed, to establish a Eurozone distribution center, with the option to increase ownership interest in HEXOMed to 50%           During the quarter ended January 31, 2019, the Company announced that its 1,000,000 sq. ft. greenhouse expansion reached construction and licensing milestones. The first harvest from the facility is expected later this month and will allow HEXO to continue ramping up to an annual production capacity of 108,000 kg of dried cannabis annually.Subsequent to quarter end, HEXO announced that it entered into a syndicated credit facility for up to $65 million available credit through a $50 million credit facility with an option to increase by an additional $135 million and a $15 million revolving loan with CIBC. The proceeds of the total available credit of $200 million will be used in part to fund the Company’s ongoing expansion projects and innovation initiatives.HEXO most recently announced an agreement to acquire Newstrike Brands Ltd. This transaction was unanimously approved by the board of directors of both HEXO Corp and Newstrike Brands Limited. The acquisition will provide HEXO Corp capacity to produce approximately 150,000 kg of high-quality cannabis annually with access to four cutting-edge production campuses. It also provides the Company diversified domestic market penetration with combined distribution agreements in eight provinces. The combined entity is estimated to realize annual synergies of $10 million, allowing HEXO to operate more efficiently with a continued commitment to excellence. The acquisition requires Newstrike shareholder approval before being finalized.The management’s discussion and analysis for the period and the accompanying financial statements and notes are available under the Company’s profile on SEDAR at www.sedar.com and on its website at www.hexocorp.com.Second Quarter 2019 Financial ResultsSummary of results for the three and six months period ended January 31, 2019 and 2018 (in thousands of Canadian dollars, except share and per share amounts, and where otherwise noted)Q2 PERIOD HIGHLIGHTSTotal gross revenue in the quarter increased in excess of 13.74x to $16,241 as compared to the same quarter of fiscal 2018, and increased 143% sequentially from the previous quarter.Gross adult-use revenue in the three months ended January 31, 2019, exceeded total revenues fiscal 2018 by $9,858 or 200%.Oils sales represented 23% of the adult-use revenues.New in the fiscal year are ancillary revenues associated the Company’s management agreement held with a supplier. This contributed net $62 to total revenue in the quarter, an increase of $15 from the prior quarter.The net loss for the period decreased 52% to ($4,325) compared to the same quarter in fiscal 2018. Sequentially, the net loss decreased 66% quarter over quarter as a result of the increased sales and 16% reduced total operating expenses in the period.OPERATIONAL HIGHLIGHTSAdult-use sold grams and gram equivalents increased 166% to 2,537 kg from the previous quarter as the Company continues to scale up and deliver on its existing supply agreements.Adult-use revenues per gram and gram equivalents increased $0.38 to $5.83 form the first quarter of fiscal 2019.Medical revenue per gram and gram equivalent sold increased $0.03 to $9.15 during the quarter, with 152 kg sold.During the quarter ended January 31, 2019, the Company produced approximately 4,938 kg of dried cannabis, a 39% increase from the previous quarterCertain production areas of our existing licensed facilities have been dedicated to the commissioning of our new 1,000,000 sq. ft. facility (B9). This includes designated areas housing the mother plants to be relocated to B9, as well as a cuttings area to supply B9 with its first plants throughout the second and third quarter of fiscal 2019.The Company is ramping up towards its full production capacity, with efficiency gains and increased capacity achieved through our licensed 250,000 sq. ft. facility and the additional 1,000,000 sq. ft. facility, which met its first construction and licensing milestones in December 2018. The Company to ramp up to its run goal rate of 108,000 kg of annual dried flower production.  ORGANIZATIONAL GROWTHAs a result of the growing scale of operations, our headcount rose by 32% to 374 employees as at January 31, 2019 from the previous quarter’s headcount of 283 on October 31, 2018. This is a direct result of the continuing upscaling primarily to the production and cultivating staff as our new facilities are activated.FACILITY EXPANSION  In December 2018, we reached a construction and licensing milestone with the first zone of the 1,000,000 sq. ft. greenhouse expansion. This goal was met within the first year of its announcement, on time and on budget. This milestone is an important first step as the Company continues ramping up to an annual production capacity of 108,000 kg of dried cannabis. FINANCIAL POSITIONAs at January 31, 2019, the Company held cash, cash equivalents and short-term investments of $165,571 and working capital of $224,332.During the period, the Company raised gross proceeds of $57.5mm through a public offering of common shares.Subsequent to the quarter end, the Company obtained a $65mm credit facility jointly held with CIBC and BMO, two of Canada’s premier financial institutions. This consists of $50mm available term credit and a $15mm revolving line of credit which will be used in part to finance the continuing expansion of the Gatineau campus as well as the leasehold improvements at the Belleville transformation centre without diluting the current and future shareholders of HEXO Corp.Summary of Results
Revenue 
Total net revenue in the second quarter of fiscal 2019 increased to $13,438 from $1,182 in the same period of fiscal 2018. The main contributor is the addition of adult-use sales in which the Company realized its first full quarter of legalization in Canada. Adult-use sales in the quarter accounted for 91% of total revenue. Non-cannabis ancillary sales which began in the previous quarter increased to $62 from $47. This revenue is derived from a management agreement held by the Company with arms-length partners.
ADULT-USE SALESThe Company realized its first complete quarter of adult-use sales during the second quarter of fiscal 2019. Adult-use gross sales totaled $14,792 in the three months ended January 31, 2019, which is a 1,151% increase over the $1,182 of total sales in the second quarter of 2018 (which included medical sales only during that period), and a 185% increase over the $5,194 of adult-use sales in the first quarter of the current fiscal year. This is a direct result of the Company’s strong supply agreements and introductory brand awareness campaign.The Company’s adult-use gross sales for the six months period ended January 31, 2019 totaled $19,986, an increase of $17,703 as compared to the six months period ended January 31, 2018 total sales of $2,283 (which include medical sales only during that period). The increase is due to there existing no adult-use sales in the comparative period.Sales volume in the second quarter of 2019 was 2,537 kg for a 166% increase over the 952 kg equivalents sold in the first quarter of fiscal 2019. Dried flower products represented 85% of gram equivalents sold during the period, a 5% decrease from the first quarter of fiscal 2019 and oil product sales comprising the balance.   Gross adult-use revenue per gram equivalent increased to $5.83 from $5.45. This is reflective of the increased oil sales during the quarter which command higher market sales prices per gram equivalent. The adult-use net revenue per gram equivalent increased to $4.81 from $4.44 in the previous quarter reflecting a consistent approximate ($1.00) impact to revenue per gram due to excise taxes. In future periods as the sales mix shifts towards oil and other value-added products from lower valued dry flower products the impact of these excise taxes on revenue per gram is expected to decrease.During the period, 84% of all adult-use sales were realized through the SQDC with the remaining 16% derived in Ontario and British Columbia via the OCS and BCLDB.While the Company continues to prepare for the initial harvests from its new 1,000,000 sq. ft. greenhouse which should be realized throughout the third quarter of fiscal 2019 and the activation of its product transformation centre in Belleville which is expected in the fourth quarter of fiscal 2019, net revenues for the third quarter are estimated to increase minimally from those of the second quarter.Net revenues for the fourth quarter are expected to approximately double those of the second quarter for the reasons detailed above.MEDICAL SALESGross medical revenue in the three months ended January 31, 2019 increased 17% to $1,387 compared to $1,182 in the same period in fiscal 2018. Higher revenue was driven by increased sales volume as well as higher Elixir oil sales which command a higher revenue per gram when compared to dried gram sales. Compared to the prior quarter, the sequential revenue decreased by 3% from $1,436, reflecting a lower total gram equivalents sold due to lower dried flower sales in the period. Medical oil sales remained consistent quarter over quarter.The Company realized $2,823 of gross medical sales during the six months period ended January 31, 2019 which is an increase of 24% from the $2,283 of gross medical sales during the comparative six months ended January 31, 2018. This increase is due to the reasons as stated above.Net medical revenues decreased during the quarter by 16% to $1,171 due to the impact of excise taxes applied to the full periods medical sales versus those applied to only those medical sales realized post legalization on October 17, 2018 in the prior quarter. Sales volume increased 15% to 151,521 gram equivalents, compared to 131,501 in the same prior year period. Revenue per gram equivalent increased to $9.15 as compared $8.99 the same prior year period and $9.12 from the prior quarter. This is a direct result of the increase in our oil-based products sales as the product mix purchased by customers continues to shift towards smoke-free alternatives.Cost of Sales and Excise TaxesCost of goods sold includes the direct and indirect costs of materials and labour related to inventory sold, and includes harvesting, processing, packaging, shipping costs, depreciation and applicable stock based compensation and overhead.Fair value adjustment on sale of inventory includes the fair value of biological assets included in the value of inventory transferred to cost of sales.Fair value of biological assets represents the increase or decrease in fair value of plants during the growing process less expected cost to complete and selling costs and includes certain management estimates.Cost of sales for the quarter ended January 31, 2019 were $6,499, compared to $451 for the same quarter ended in fiscal 2018. The increase in cost of sales is the result of increased sales volumes and increases to transformation costs as the oil and other value-added product production mix has increased from the second quarter of fiscal 2018. For the six months period ended January 31, 2019, cost of sales increased to $9,329 from $914 from the comparable period of fiscal 2018 for the reasons as noted above.Fair value adjustment on the sale of inventory for the second quarter ended January 31, 2019 was $3,690 compared to $1,032 for the same quarter ended January 31, 2018. This variance is due to increased sales volume of inventory sold when compared to the same quarter in fiscal year 2018. This is offset by the introduction of the adult-use market which commands a lower fair value per gram when compared to the exclusively medical market-based sales in the three months ended January 31, 2018. Fair value adjustment on biological assets for the current quarter was ($8,354) compared to ($1,053) for the same quarter ended in fiscal 2018. This variance is due to the increase in the total number of plants on hand as well as increased yields in the quarter, primarily due to the fully licensed 250,000 sq. ft. greenhouse which began harvests in Q1 of fiscal 2019. This results in significantly increased expected gram yields in the quarter and increased production costs of operating a newly in-use facility. The increase in scale and total plants on hand is the result of meeting the demand of the adult-use market. The fair value adjustments on the sale of inventory and biological assets increased to $4,407 and ($13,477) respectively from $1,846 and ($3,692) respectively in the comparative period of fiscal 2018 for those reasons as noted above.New in fiscal 2019 are excise taxes associated with the new adult-use revenues and medical sales incurred after October 17, 2018. These taxes totaled $2,803 an increase of 176% from the prior quarter due which is consistent with increase in underlying sales. This reduced gross margin before fair value adjustments by approximately 9% during the quarter which is an increase of 2% from the sequential quarter. The increase is due to the total current periods medical sales being excise tax burdensome as opposed to the first fiscal quarter of 2019 in which only those medical sales post October 17, 2018 were burdened. Excise taxes are a function of fixed provincial and territorial rates based upon the gram equivalents sold as well as a variable ad valorem component which is dependent upon the selling price of the products.Operating ExpensesOperating expenses include general and administrative expenses, inclusive of research and development, marketing and promotion, stock-based compensation, and amortization expenses. Marketing and promotion expenses include customer acquisition costs, customer experience costs, salaries for marketing and promotion staff, general corporate communications expenses, and research and development costs. General and administrative expenses include salaries for administrative staff and executive salaries as well as general corporate expenditures including legal, insurance and professional fees.GENERAL AND ADMINISTRATIVEGeneral and administrative expenses increased to $8,161 in the second quarter of fiscal 2019, compared to $1,770 for the same period in fiscal 2018. This increase reflects the general growing scale of our operations, including an increase in general, finance and administrative staff for an increase of $2,775. New rental space in our Belleville location resulted in an increase of $613 which was obtained to house product processing and transformation as well as the administration department of the Belleville location. Total general and administrative payroll increased $1,950 due to the growth in operations. Total professional, listing and legal expenses increased by $1,024, as a result of additional corporate development initiatives and the increased financial reporting and control-based regulatory requirements accompanying public status on the TSX and NYSE-A. Increased insurances pertaining to commercial property and directors and officers increased $1,342 due to increased property, plant and equipment balances and the listing on the NYSE-A.Total general and administrative expenses for six months ended January 31, 2019 increased to $13,076 from $3,046 in the same period of fiscal 2018 due to the general growth of the operational scale of the corporation for the same reasons as outlined above.The Company is anticipating general and administrative expenses to increase as the Company completes and operationalizes its current expansion projects over the remaining two quarters of the fiscal year. Research and development expenses are expected to rise on trend with general and administrative expenses for the final two quarters of fiscal 2019 and subsequently, significantly escalate in fiscal 2020 as the Company executes its innovation initiatives.MARKETING AND PROMOTIONMarketing and promotion expenses increased to $4,839 in the second quarter, compared to $1,358 for the same period in fiscal 2018. This reflects the implementation of our adult-use marketing and promotional events undertaken in the quarter as we build brand recognition and establish HEXO in the adult-use cannabis market. This is inclusive of higher staff and travel-related expenses, printing and promotional materials as well as advertisement costs. Quarter over quarter total marketing and promotion expenses were significantly reduced from $11,711 as it was during this period in which HEXO underwent an extensive branding and marketing campaign which involved concerts, conventions and social events to launch the HEXO brand to the adult-use market.Total marketing and promotion expenses for the six months period ended January 31, 2019 significantly increased to $16,550 from $2,426 as compared to the same period of fiscal 2018. This dramatic increase reflects the Companies agreement marketing and branding campaigned which was primarily realized in the first quarter of fiscal 2019 as we prepared for the launch of the adult-use brand HEXO into the legalized Canadian adult-use market.The Company expects marketing and promotion expenses to trend with revenues over the next two quarters of the fiscal year.STOCK-BASED COMPENSATIONStock-based compensation increased by to $4,960 when compared to $1,968 for the same period in fiscal 2018. The increase is a function of the increased number of outstanding stock options which is a direct correlation to the increased headcount of the Company. Underlying market prices of those options granted subsequent the second quarter of fiscal 2018 were significantly higher, resulting in an increase to the expensed value on a per stock option basis during the period.Total stock-based compensation for the six months ended January 31, 2019 increased to $9,649 from $2,281 as compared to the same period of fiscal 2018 for those reasons as outlined above.AMORTIZATION OF PROPERTY, PLANT AND EQUIPMENTAmortization of property, plant and equipment increased to $452 in the quarter, compared with $188 for the same period in fiscal 2018. The increase is the direct result of the Company’s newly built greenhouses and acquired cultivation equipment. Additionally, increases to cultivation and production equipment were incurred in order to support the larger production demands and scalability of the Company.Total amortization of property, plant and equipment for the six months ended January 31, 2019 increased to $1,025 from $312 as compared to the same period of fiscal 2018 for those reasons as outlined above.AMORTIZATION OF INTANGIBLE ASSETSAmortization of intangible assets decreased to $74 in the first quarter, compared with $207 for the same period in fiscal 2018. The decrease is the result of the implementation of an inactive new ERP system as at the period ended January 31, 2019. This system is replacing certain fully amortized software programs.Total amortization of intangible assets for the six months ended January 31, 2019 decreased to $224 from $270 as compared to the same period of fiscal 2018 for those reasons as outlined above.Loss from OperationsLoss from operations for the second quarter was ($6,883), compared to ($4,739) for the same period in fiscal 2018. The increased loss from operations is due mainly to higher expenses in line with the expanding scale of operations as we prepared for the legalization of the adult-use market and the realization of stock-based compensation expenses due to the increased headcount and market share price value of the Company. This dramatic increase in scale of the Company and its operations was also offset by the 10.28x increase in net revenues as compared to the same quarter in fiscal 2018.Other Income/ExpensesOther income/(expense) was $2,558 for the three months ended January 31, 2019 compared to ($4,213) in the same period of fiscal 2018. Revaluation of financial instruments of ($815) in the latest quarter reflects the revaluation of an embedded derivative related to USD denominated warrants issued in the prior year. Additionally, we had an unrealized fair value gain on convertible note receivable of $2,545. Interest income of $1,304 was realized for the three months ended January 31, 2019 reflective of the interest generated from the increased cash holdings and the interest accrued on the convertible debentures and promissory note held as at January 31, 2019.Total other income/(expense) was $4,553 for the six months ended January 31, 2019 compared to ($5,750) of the same period of fiscal 2018. The increase is primarily due to the $5,978 unrealized gain on the convertible debenture which was issued in the first quarter of fiscal 2019. The loss due to revaluation of the financial instruments decreased $1,461 when compared to the six months ended January 31, 2018 due to a decrease in the remaining number of underlying warrants.Webcast and Conference Call InformationHEXO Corp will host a conference call at 8:30 a.m. EDT on March 14, 2019.Replay Information
A replay of the call will be accessible by telephone until 11:59 a.m. EDT on March 28, 2019.Toll Free Dial-In Number: 1-888-390-0541Replay Password: 432690#About HEXO Corp  HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes products to serve the global cannabis market. Through our hub and spoke business strategy, we are partnering with Fortune 500 companies, bringing our brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO Corp has over 1.8 million sq. ft of facilities in Ontario and Quebec and a foothold in Greece to establish a Eurozone processing, production and distribution centre. We serve the Canadian adult-use market under the HEXO brand while continuing to provide our medical cannabis clients with consistent access to Hydropothecary medical cannabis products. For more information please visit hexocorp.com.Forward-Looking StatementsThis press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors that could cause actual events, results, performance and achievements to differ materially from those anticipated in these forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and other continuous disclosure filings, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements as a result of new information or future events, or for any other reason.Investor Relations:Jennifer Smith1-866-438-8429invest@HEXO.comwww.hexocorp.comMedia Relations:Caroline Milliard(819) 317-0526media@hexo.comDirectorAdam Miron819-639-5498 

Original story can be found at: http://www.globenewswire.com/news-release/2019/03/14/1753011/0/en/HEXO-reports-over-16-2-million-in-total-gross-revenue-in-the-second-quarter-of-fiscal-2019.html?f=22&fvtc=5&fvtv=41223728

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NutraLife Biosciences, Inc. (NLBS) Reports First Quarter 2019 Results

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Coconut Creek, FL, May 17, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — NutraLife Biosciences Inc. (“NutraLife” or “NLBS”), (OTC Markets OTCQB: NLBS) today announced financial results for its fiscal 2019 first quarter ended March 31, 2019. The Company posted quarterly revenue of $720,799 and quarterly loss per diluted share of $0.01. These results compare to revenue of $722,905 and loss per diluted share of $0.01 for the same quarter of last year.  For the quarter ended March 31, 2019, the Company’s total assets were $4,462,098 compared to $1,830,329 for the same quarter in 2018, an increase of 144%.
For the Three Months Ended March 31, 2019Q1 2019, Sales for Q1 2019 were $720,799 compared to $722,905 for the same period in 2018.Q1 2019, Cash & Cash Equivalents at the End of the Period were $676,822 compared to $151,707 for the same period in 2018.Q1 2019, Proceeds from the sale of stock was $2,224,480 compared to $0 for the same period in 2018.Q1 2019, Receivables increased to  $115,484 at March 31, 2019 from $54,082 for the same period in 2018.Q1 2019, Loss from Operations was $994,306 compared to $595,561 for the same period in 2018. Q1 2019, Cash used by operations was $1,208,126 compared to $6,900 for the same period in 2018.Q1 2019, General & Administrative Expenses were $901,167 compared to $418,422 for the same period in 2018.The Loss from Operations is the result of increases in expenses related to the Company’s positioning for growth.  The Company incurred significant expenses related to the purchase of supplies and inventory needed to support an increase in production capacity. In addition, the Company needed to increase its staffing resulting in higher payroll costs during the quarter.  These increases directly impacted the costs of sales for this quarter. Other expenses were incurred related to research and development and marketing costs that directly impacted the Company’s general and administrative expenses for the quarter.The Company incurred costs from investing activities aggregating $859,507 that consist of the purchase of property and equipment totaling $729,507 and the acquisition of intellectual property of $130,000.  The property and equipment represent payments made towards the construction of a 9,000 square foot modular “clean room” and processing equipment for use at the Company’s new facility. The intellectual property is a patent for a dermal patch to prevent bites from insects, including mosquitoes.“We are pleased to report our 1st quarter 2019 financial results and an increase in the Company’s total assets of more than 144% to $4,462,098 compared to $1,830,329 for the same period in 2018,” said Edgar Ward, NutraLife’s Chief Executive Officer. “The results reflect the Company’s investment in and expansion of its operations, manufacturing capacity and vertical integration into the life sciences industry.”The statements herein are qualified in their entirety to the Company’s financial statements included in its Quarterly Report on Form 10-Q for the period ended March 31, 2019, filed with the Securities & Exchange Commission on May 15, 2019.About NutraLife BioSciencesEdgar Ward founded NutraLife in 2010 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 that support daily health and wellness uses.Forward-Looking StatementsThis press release contains statements of a forward-looking nature about NutraLife BioSciences, Inc. (“NutraLife” or the “Company”) ). 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 process hemp with GEG 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.Company Contact:NutraLife BioSciences, Inc.6601 Lyons Road, Suite L-6Coconut Creek, FL  33073Telephone 888-509-8901www.NutraLifeBioSciences.com

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/17/1827015/0/en/NutraLife-Biosciences-Inc-NLBS-Reports-First-Quarter-2019-Results.html?f=22&fvtc=5&fvtv=41223728

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Aura Announces Strategic Entry Into the European Market With the Closing of the Acquisition of Pharmadrug

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
TORONTO, May 17, 2019 (GLOBE NEWSWIRE) — Aura Health Inc. (the “Company” or “Aura”) (CSE:BUZZ) is pleased to announce that it has closed the previously announced (May 8, 2019) acquisition of an 80% equity interest in Pharmadrug Production GmbH (“Pharmadrug”) for total consideration of €5.0 million. Pharmadrug is a cash flow positive German pharmaceutical distribution company with over 20 years of operating history and a Schedule I European Union narcotics license allowing for the distribution of medical cannabis to pharmacies in Germany and throughout the Eurozone as markets become legalized. Pharmadrug has supply agreements in place with Bedrocan International B.V., Canadian Licensed Producers, and is currently supplying medical cannabis to pharmacies in Germany.Daniel Cohen, CEO of Aura, commented, “This is a historic day in the early life of Aura, having closed on our first flagship transaction. This acquisition establishes Aura in the European market as a medical cannabis supplier in Germany and opens doors to opportunities throughout the rest of the continent. Pharmadrug is a strong strategic fit with our Israel cultivation project and the opening of the Israeli export law. We now have a strategic avenue to export our own medical cannabis from Israel into the European Union. In addition, we plan to significantly grow the Pharmadrug business through additional supply agreements with other Canadian, Israeli, and European LPs.”The Company has satisfied the escrow release conditions pursuant to its previously announced private placement of a cumulative amount of 21,545,454 subscription receipts (each, a “Subscription Receipt”) at a price of $0.22 per Subscription Receipt for gross proceeds of approximately $4.74 million and has successfully drawn $3 million from its previously announced bridge facility (see the press release issued by Aura on May 8, 2019).Resignation of Mr. FreudmanAura also announces that Joel Freudman has resigned as a director in order to focus on his other business ventures. Aura thanks Mr. Freudman for his corporate governance advice while also helping the Company through its first audit as a publicly-traded company. The Company is in discussions with other qualified candidates to replace Mr. Freudman and will be making an announcement once such replacement has been confirmed.About Aura Health Inc.Aura Health is building an international network of vertically integrated cannabis assets. Through an established product line of cannabis-infused edible products and oil extracts, Aura is dedicated to building a high margin downstream business in the medical marijuana sector. The Company owns 80% of Pharmadrug, a German medical cannabis and pharmaceutical distributor, as well as debt that converts to 54% equity of HolyCanna, a cultivation and nursery license holder in Israel. Aura also has a binding letter of intent to purchase CannabiSendak, the builder of a network of high-profile dispensaries in Israel.For further information, please contact:Daniel Cohen, CEO
Aura Health Inc.
(647) 202-1824
David Posner, Chairman
Aura Health Inc.
(647) 985-6727
Caution Regarding Forward-Looking Information:THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of Pharmadrug or Aura. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include reference to Aura’s expansion through Europe, and the entering into of additional supply agreements, among others. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change.All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/17/1826999/0/en/Aura-Announces-Strategic-Entry-Into-the-European-Market-With-the-Closing-of-the-Acquisition-of-Pharmadrug.html?f=22&fvtc=5&fvtv=41223728

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HPIL HOLDING issues comprehensive shareholder update

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MIDLAND, Mich., May 17, 2019 (GLOBE NEWSWIRE) — HPIL Holding (the “Company”) (OTC PINK: HPIL) is pleased to issue a comprehensive shareholder update addressing the status of the company and its subsidiaries.
The Company and the Company’s wholly owned subsidiaries MyFly WiFi Inc., RodDoc Inc., Crypto Currency Engine Inc., Karate Games Company Inc., Global Live Streaming Inc., HPIL Real Estate LLC. have been incorporated in Wyoming. HPIL Holding and nuUnlimited Ltd. UK jointly owned subsidiary nuUnlimited North America Inc. has also been incorporated in Wyoming. A relevant 8K was filed on  March 15, 2019.The Company has signed a Letter of Intent to purchase property located at 278 E Saginaw Rd, Sanford, MI 48657. A relevant 8K was filed on  April 17, 2019.MyFly WiFi Inc. is a Proximity Marketing Company. Proximity Marketing, also referred to as Location Aware Advertising (LAA), enables mobile users to receive an advertising message or other customizable content based on their location. LAA allows advertisers to deliver highly customized promotions, coupons and offers to a highly primed individual, specifically taking into account their geographical location, as well as the time of day and other variables. Also, LAA lets advertisers reach their customers when they are primed to make a purchase. MyFly WiFi is finalizing negotiations to market and license our technology in India and use an Indian supplier for some of our back office functions. We are also working with nuUnlimited Limited in the UK to license our technology to them for their UK market. “We recognized the potential for smart locations some time ago and are excited to be able to bring a complete solution together with MyFlyWifi over the coming months,” states Tim Sandford, CEO of nuUnlimited. The project integration work will be carried out in conjunction at nuUnlimited’s development hub in Scotland and at MyFlyWiFi’s offices in Boca Raton, Florida, USA  before the first product is launched in the final quarter of the year globally.nuUnlimited North America Inc. (NUNA) We are in the process of engaging and bringing on the HPIL team a seasoned manager from a major telecom company to be the President of NUNA. Our initial concentration is selling to Cannabis companies that need to track the provenance of the cannabis from plant to consumer. A white paper on Cannabis is available at http://hpilholding.com/download/Cannabispaper[1127].pdf.  Many Michigan Cannabis companies are locating in the Pinconning Michigan area which is very close to our offices and assisting us in our development and marketing efforts in the Cannabis field.RodDoc Inc. builds “spiral banding machines” that resurface worn underground drilling rods saving companies thousands in unnecessary expenses.  On February 21, 2019 the U.S. Patent and Trademark Office published U.S. Patent Application No. 2019-0056045-A10 (“Spiral Banding”). The claims of the newly issued patent application are generally directed towards methods of spiral rod banding and identification, including performance of actions following therefrom. The Application generally permits patentees to be eligible for a reasonable royalty for infringement occurring between the publication date and the date the patent is granted. A relevant 8K was filed on  March 12, 2019.RodDoc has been doing business and marketing to horizontal directional drilling (HDD) companies in Southern New Jersey.  RodDoc’s product and services have been well received and expansion plans are in place.  As proprietary machines are built and deployed, we expect the high value-added proposition to rapidly grow the business. The market for HDD has significantly increased in recent years.In addition to US domestic deployment, HPIL Holding has initiated discussions with parties in other countries to license and install the RodDoc patent pending process and “Spiral Banding Machine”.  The initial target markets include Canada and Europe. Mr. Christopher Philbrick, President of RodDoc, said, “We are working closely with industry experts to develop testing methods to minimize risk of failure while drilling. We are  seeking to make NDT (non destructive testing) reporting standard prior to initiating marketing and growing and expanding our geographic market. This will eliminate a significant hurdle in our business and give customers the peace of mind that they need.”Karate Games Company Inc. Mr. Ionel Bara, President and Founder of WTOKF (the World Traditional Okinawa Karate Federation), said: “We are consulting with the HPIL development team to define the parameters for the games. We have decided with HPIL to include many of our activities for authentic content. The 2020 Olympics will debut Karate for the first time“. Ray Wong, COO of HPIL commented:“We look forward to helping the WTOKF to expose the ancient sport of karate to a new audience using modern technology.”Global Live Streaming Inc. Mr. Ionel Bara President and Founder of WTOKF said: “We look forward to monetizing our vast library of Karate videos and future events. We will provide HPIL with everything that is needed to make these karate games work . We are confident that it will be a real success, and beneficial to our membership.”HPIL Real Estate LLC. As previously announced HPIL has signed a Letter of Intent to purchase property located at 278 E Saginaw Rd, Sanford, MI 48657. A relevant 8K was filed on  April 17, 2019.  Mr. Nitin Amersey, Chairman and CEO of HPIL, said, “This property will serve as HPIL Holdings corporate headquarters, main offices of our nuUnlimited North America Inc. Joint Venture and as the primary refurbishment center for our wholly owned RodDoc subsidiary.”Mr. Amersey, stated, “This action of incorporating our businesses in Wyoming provides us with considerable savings annually in state registration expenditures. The Company’s trading symbol on the OTC will remain unchanged as ‘HPIL.’” Mr. Amersey, also noted, “Our management team is working diligently and effectively to realize our goals. We have many positives at play and intend to keep our shareholders informed as we progress forward. We are actively looking to expand our management team for our various businesses at this time. Our newly appointed CFO Mr. David Langle is working diligently to get us current in our reporting to the SEC.”HPIL Holding (http://hpilholding.com) is a diversified holding company listed on OTC Markets. HPIL Holding is focused on investing in both private and public companies in differing business sectors. HPIL Holding does not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, acquires various types of businesses. HPIL Holding also evaluates the acquisition of intellectual properties and technologies.Safe Harbor / Forward-Looking Statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” “plan,” “potential,” “seek,” and “intend,” among others. These forward-looking statements are based on the Company’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.For more information please contact:HPIL Holding
Investor Relations
Tel:  +1 (248) 750-1015
Email: info@hpilholding.com 
inquiry@hpilholding.com
Source: HPIL Holding
Twitter:   https://twitter.com/hpilhold
Web Site: http://www.hpilholding.com
News: http://www.hpilholding.com/news/news.php
HPIL Holding  Tel:  +1(248) 750-1015 
Email: info@hpilholding.com

Original story can be found at: http://www.globenewswire.com/news-release/2019/05/17/1826984/0/en/HPIL-HOLDING-issues-comprehensive-shareholder-update.html?f=22&fvtc=5&fvtv=41223728

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