Panacea Life Sciences Holdings, Inc. Discusses 100% Customer Base Increase and 2023 Goals with The Stock Day Podcast
Phoenix, February 9th, 2023 (Newsfile Corp.) — The Stock Day Podcast welcomed Panacea Life Sciences Holdings, Inc. (PLSH)(“the Company”), a leader in production and manufacturing of natural health and wellness products for consumers and pets. CEO of the Company, Leslie Buttorff, joined Stock Day host Everett Jolly.
Jolly began the interview by commenting on the Company’s recent announcement detailing an increased customer growth base of 100% in contract manufacturing in the first quarter of 2023. “Originally, we formulated for the CBD and cannabinoid industry, but we saw with the excess capacity that we have with our machinery and in our buildings that we could also help nutraceutical companies with vitamins and non-CBD products,” shared Buttorff. “We started pursuing this in the third quarter of last year and have built up a pretty good reputation, and we now have 10-15 customers that are coming back to us regularly for our R&D expertise and production facilities.”
“We started Panacea Life Sciences in 2017,” continued Buttorff. “We focused on hemp,” she added. “We have extraction, production, and fulfillment in our 51,000 square feet facility,” said Buttorff. “COVID hurt the CBD industry, along with the FDA non-action,” she shared, noting that these challenges prompted the Company to further diversify its offerings.
“‘What part of your business is bringing Panacea the most growth?”, asked Jolly. “The first would be the manufacturing of nutraceuticals,” said Buttorff. “We have also been actively pursuing acquisitions, and we have a couple lined up that we are considering,” she said. “We hope that those will expand our reach, break into retail, and help us expand our mushroom and Kratom offerings.”
Jolly then asked about the Company’s acquisition of N7 Enterprises, Inc. “We are in the process of finalizing the terms for the final contract,” said Buttorff. “That should be completed within the next month,” she said. “We have been pretty aggressively looking at a combination of resources and how we can expand our revenue base.”
“What do you think the catalyst will be to drive this stock higher and provide a stronger shareholder value moving forward?”, asked Jolly. “We did a reverse merger in June of 2021,” said Buttorff. “At the time, Panacea was valued at 70 to 80 million,” she said. “The market has since been depressed, however we see that our stock is back on a positive trend,” explained Buttorff. “We are now focused on acquisitions and partnerships, and we have expansions into other countries that we’re working on.”
“In addition, we invested in the Colorado State University cannabinoid lab and their chemistry department, and we have been doing a lot of testing with human and animal trials,” continued Buttorff. “Hopefully, some of these rare cannabinoids, other than THC and CBD, will become more well known as we expand our product base.”
Jolly then asked about the possibility of pet products. “For the pet products, we are in the midst of a three-year study with Colorado State looking at dementia in dogs, and this research will be transferable to humans,” shared Buttorff. “From a retail perspective, we already have products for cats, dogs, and horses, and we are also getting into pet treats,” she explained. “This is a big area of expansion that we see, especially within the pet area.”
“Where do you see sales for your company trending 1-2 years from now?”, asked Jolly. “Our sales were around $10 million prior to COVID,” said Buttorff. “We are hoping to get back to the $5 million and then $10 million range in the next year or so.”
To close the interview, Buttorff encouraged listeners and shareholders to keep up-to-date on the Company’s current and upcoming projects as they continue to expand and further diversify their products.
To hear Leslie Buttorff’s entire interview, follow the link to the podcast here: https://audioboom.com/posts/8275301-panacea-life-sciences-holdings-inc-discusses-100-customer-base-increase-and-2023-goals-with-th
About Panacea Life Sciences Holdings, Inc.
Panacea Life Sciences Holdings, Inc. is a leader in production and manufacturing of natural health and wellness products for consumers and pets. Panacea operates out of a 51,000 square foot cGMP certified facility in Golden, Colorado, USA, complete with fully integrated extraction, manufacturing, testing and fulfillment services. Panacea can produce up to 1 million softgels in a daily shift depending on the ingredients and the size of the softgel and over 10,000 liquid fills per day. In addition, Panacea offers a full line of services for its customers including cannabinoid raw materials, formulation research and design, bottling and labeling, and fulfillment services – all catered to the multi-billion natural products market. If you would like more information about these topics or want to learn more about Panacea and its products or our land-to-brand practices, please visit www.panacealife.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, risks arising from supply chain disruptions or our ability to obtain raw materials as well as similar problems with our vendors, our ability to fulfill purchase orders on a timely manner, our ability to fully collect money for our purchase orders, the risk of customers returning our products, impact of the pandemic including new variants on our workforce, as well as those risks and uncertainties described by us in our annual report on Form 10-K for the fiscal year ended December 31, 2021 under the heading “Risk Factors”. Any forward- looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments.
CONTACT: Nick Cavarra
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