Nutroganics (NUTT) Announces Executive Changes, Strategic Discussions & Updates Financial Guidance - Seite 2

Commenting on the announcements, David Sackler, CEO of Nutroganics said, "We are very disappointed with the breach of fiduciary duty committed by Mike Carnazzo and the actions of at least one of our customers. The purposeful actions translated into our poor Q4 performance. We remain committed, however, to making 2016 an even better year for Nutroganics as we rebuild on a foundation of honesty and trust. We are intent on maximizing shareholder value and the growth of the business. To that end, we have won numerous new contracts within the last few weeks as clients see a new openness and attitude as a result of Mr. Carnazzo's removal: a mindset of serving all our clients well, not just a few with preferential access."

Sackler further states, "We have brought in a significant supply chain partner to work with us on our powders business and are expecting a robust business with them. We raised over $200,000 for new equipment and inventory needs. The promotions of Juan and Angela to positions of responsibility within the Company have been seamless as a result of their experience and daily, direct involvement with the inner workings of the organization, the customer and vendor base, and the maturation of their skill sets over the years. Both have significant capability to help the growth of Nutroganics. We look forward to their continued success with the Company."

About Nutroganics:
Nutroganics, Inc. acquires and grows revenue-generating businesses operating in the healthy lifestyle marketplace, and seeks to capitalize on synergies from manufacturing through distribution. Nutroganics owns Silverbow Honey Company, a producer and packager of honey products founded in 1945 and based in Moses Lake, Washington and NuStar Manufacturing, LLC, a Utah based packager of nutritional products and supplements.

For more information, contact David Sackler at [e-mail] or [phone], and/or Rich Kaiser, Investor Relations, YES INTERNATIONAL, [e-mail], 757-306-6090, www.nutroganics.com.

Forward-Looking Statements:
This release may contain forward-looking statements, which involve known and unknown risks, uncertainties, and other factors, which may cause Nutroganics' actual results, performance, or achievements to be materially different from actual future results expressed or implied by the forward-looking statements. Specifically, Nutroganics' working capital was negatively affected by the actions of Mike Carnazzo and the Company's 2015 Q4 performance; therefore, the risks which result from lower working capital are heightened. Management undertakes no obligation to update any forward-looking statements after the date of such statements.

Contact:

David Sackler
240-223-1000
Email contact


Rich Kaiser
757-306-6090
Email contact