Nepra Foods Inc.

08:36 AM EST - Nepra Foods Inc. : Has started major construction of an expanded production area and research and development facility. In January 2021, our subsidiary, Nepra Foods, Ltd., signed a 10-year lease on a new 31,000 square foot facility in Centennial, Colorado, in the southern part of the greater Denver Metro area. Leasing this new facility and the completion of the state-of-the-art build out is part of Nepra's phased growth strategy, which will enable Nepra to increase manufacturing output and expedite the development of innovative new products. Approximately 3,000 square feet of the building will be dedicated to research and product development in a fully equipped laboratory kitchen. It will serve as a secure facility for the development of Nepra's proprietary products and technologies. Additional production facilities are being constructed for a custom dry ingredient blending facility for existing B2B customers who use Nepra's ingredients as well as blends for Nepra's proprietary consumer branded products. Additional construction will expand production capabilities to meet the ever-increasing demand for the Company's proprietary hemp ingredients. Nepra Foods Inc. shares C.NPRA are trading unchanged at $0.64.

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