NTRR: Banking Breakthrough in Colorado a New Milestone in Booming Cannabis Industry’s Rise
November 25 2014 - 9:36AM
Business Wire
In a major new milestone for the fast-growing cannabis industry,
the world’s first financial institution established specifically to
serve cannabis businesses has been approved in Colorado. That’s a
huge breakthrough for companies such as Neutra Corp. (OTCBB: NTRR)
that are working to serve high demand for new technology
innovations in the billion-dollar U.S. cannabis market.
Due to strict federal regulations, large banking institutions
have shied away from doing business with cannabis-related
companies. Dispensaries and other MMJ businesses have for years
been forced to deal largely in cash because banks feared legal
risks associated with serving them. The creation of this new
institution could change that. Last week, the Colorado Division of
Financial Services issued a charter to The Fourth Corner Credit
Union, which could begin doing business and serving the local
cannabis economy there as soon as January.
“There is no question that the non-participation of banks has
severely hampered the cannabis industry’s already astonishing
growth,” said NTRR CEO Chris Brown. “This charter represents the
beginning of the end to that problem. This is a legitimate
industry, and the sky is the limit for its growth.”
NTRR is preparing for that growth by working to deliver
innovative new products to the fast-rising MMJ marketplace. Earlier
this year, NTRR acquired Diamond Anvil Designs, a cutting-edge
developer of smoke-free nutraceutical delivery systems that can be
adapted to deliver a variety of substances, including dry herbs,
oils and waxes. The lightweight, portable vapor pen represents a
major breakthrough in vaporization technology thanks to
customizable power levels, multi-substance vaporization capacity
and best-in-class durability.
By providing a variety of innovative nutraceutical products and
services such as the vaporizer pens being produced by DA, Neutra
Corp. plans to follow in the footsteps of other successful public
companies including Altria Group Inc. (NYSE: MO), Vitamin Shoppe
(NYSE: VSI), Nutraceutical International Corp. (NASDAQ: NUTR) and
mCig, Inc. (OTCBB: MCIG).
For more information on NTRR’s initiatives, please
visit www.neutracorp.com.
About Neutra Corp.
Neutra Corp. is a healthy lifestyle company that specializes in
the development and marketing of natural wellness solutions,
including cannabis-related products. By delivering a variety of new
technologies designed to ensure safer, more reliable access to
cannabis in approved markets, Neutra Corp. plans to compete GW
Pharmaceuticals (OTCBB:GWPRF), Growlife Inc. (OTCBB:PHOT) and
Medbox Inc. (OTCBB:MDBX) and other leaders in the fast-growing,
billion-dollar U.S. cannabis industry. For investing information
and performance data, please visit www.neutracorp.com.
Notice Regarding Forward-Looking Statements
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.
In addition, description of anyone’s past success, either financial
or strategic, is no guarantee of success. This news release speaks
as of the date first set forth above and the Company assumes no
responsibility to update the information included herein for events
occurring after the date hereof.
Neutra Corp.Chris Brown, 813-367-2041President and
CEOinfo@neutracorp.com
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