PANACEA’S MANUFACTURING DIVISION INCREASES ITS CUSTOMER BASE BY 100%. IN FIRST QUARTER 2023
GOLDEN, Colo., March 27, 2023 (GLOBE NEWSWIRE) — Panacea Life Sciences Holdings, Inc. (OTCQB: PLSH) (“Panacea” or the “Company”), a Colorado, USA-based manufacturer of natural health and wellness softgel products announced today it has achieved double digit customer base growth in the last six months. Since the contract manufacturing launch in June 2022, of Panacea’s manufacturing business into the nutraceutical, natural health markets Panacea has experienced significant revenue growth of over 100%. These sales are supplemented by our sales of the CBD brand (PANA) products in what is still a challenging market. A key driver in this growth is Panacea’s expertise in Vegan Softgel manufacturing which accounts for 65% of the current projects scheduled.
“As a cGMP certified U.S. softgel manufacturer, our clients are looking for innovative and plant-based formulations from Panacea that address specific needs or ailments, said Nick Cavarra, President at Panacea. Our team of scientists and chemists can formulate and develop products that contain numerous, natural active ingredients that achieve the desired results for our clients without the need of forty-five seconds of disclaimers. Panacea is earning the trust of our customers and collaborating with them in developing natural, plant-based products as consumers globally have become jaded and untrusting of drugs developed in laboratories.”
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
Source: Panacea Life Sciences Holdings, Inc.