SOURCE: NutriOne Corporation

February 23, 2007 15:38 ET

NutriOne Announces It Has Concluded Its Agreement With Research in Nutrition and Nutraceuticals (RINN)

OTTAWA, ON--(Marketwire - February 23, 2007) - NutriOne Corp. (PINKSHEETS: NNCP) announced today that it has finalized terms to acquire Intellectual Property from Research in Nutrition and Nutraceuticals (RINN).

Mr. Ian Morrice, CEO of NutriOne, announced today that the company has agreed to terms and concluded an agreement with (RINN) first announced in Toronto, November 9, 2006. "We are delighted to announce that the intellectual property acquired is cutting edge as its benefits and characteristics are targeted towards the enhancement of healthy and nutritional foods, while extending the shelf life of ingredients through to finished products. Specifically, the patent can be used in the baking, dairy and the pet food industry in both extending the shelf life and allowing for additional nutrients to be added to common food stuffs, increasing the functionality of these foods."

Mr. Morrice added, "This IP is primarily focused on the exploding Functional Food Industry with sales growing from $80 billion globally in 2005 to $95 billion (estimate) in 2006. NutriOne estimates that it will capture 3% of the anticipated functional dairy market in North America within 4 years representing $1.2 billion in sales."

About NutriOne

NutriOne Corp. is a US corporation established to develop a unique, functional food process for the North American consumer. There is an ever-increasing active population focusing on healthier life styles giving rise to new food products referred to as "functional foods." Within functional foods, the nutraceuticals which are natural ingredients add health benefits and help prevent disease. The most common examples include milk fortified with omega-6s and 3s, calcium and vitamin D. The global market for functional foods is estimated to reach over $80 billion US in 2005. Further to this NutriOne was established to develop, manufacture and sub-license additives to improve the nutritive qualities and functional food values for finished products in the food and beverage industries. The process relates to the production of enhanced baked goods, confectionary, dairy and pet foods.

Important Information about Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Contact
    Ian Morrice
    CEO
    NutriOne Corp.
    613-286-1080