TORONTO, Oct. 30, 2017 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that is has entered into an agreement to lease a real estate property in Bellingham, Washington (“Bellingham Location”) where the Company has partnered with Mt. Baker Greeneries, LLC (“Mt. Baker Greeneries”) to penetrate the Washington medical and adult-use cannabis market.
Washington State: Strategic Partnership
Nutritional High has entered into a lease agreement with an option to purchase a 7,800 square foot industrial building located in Bellingham, Washington (“Bellingham Location”). The Bellingham Location is located in a fully serviced industrial area and has excellent space and infrastructure to house a significant integrated grow/extraction/marijuana-infused products (“MIPs”) operation. The facility has fully built-out cultivation rooms and a commercial MIPs kitchen. While additional equipment will be purchased in order to employ Nutritional High’s technologically unique production process, a capital-intensive build-out is not required to commence production. The lease has a three-year term, during which 50% of the lease payments are credited towards the purchase price of US$1.2 million.
The property houses a cannabis cultivation and extraction operation and is currently occupied by Mt. Baker Greeneries, which holds a Tier 2 Licensed Producer Processor issued by the Washington State Liquor and Cannabis Board. Nutritional High and Mt. Baker Greeneries have also entered into agreements whereby Nutritional High will sublease the facility to Mt. Baker Greeneries and provide its intellectual property, including recipes, branding, packaging, and other know-how to Mt. Baker Greeneries. Over the next 6 months, the Company expects to have Mt. Baker Greeneries commence production of FLI branded products using the Company’s state-of-the-art extraction and infusion techniques and assist Mt. Baker Greeneries to use its cannabis cultivation operation to produce and sell FLI branded live resin.
Jim Frazier, CEO of Nutritional High commented – "We're excited to announce this key milestone in Nutritional High’s expansion strategy, further establishing our presence in the Pacific Northwest. Washington is the 3rd largest cannabis market in the U.S. and has a thriving consumer base for concentrates and edibles products. Through this strategic relationship, Nutritional High has aligned itself with an established producer/processor and positioned the company to effectively penetrate the Washington market.”
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the marijuana-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
For updates on the Company's activities and highlights of the Company's press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.
For further information, please contact:
David Posner, Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.