Nutritional High International Inc. Ordinary Shares SPLID

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News for EAT

Alert Sent 2019-02-01 08:20:20 AM ET

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Nutritional High Update on Pasa Verde Labs

2019-02-01 08:19:14 AM ET (GlobeNewswire)


 Nutritional High International Inc., (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) reports that effective February 1, 2019, the City of Sacramento Cannabis Policy & Enforcement (the "City") has rescinded local authorization for cannabis manufacturing for Pasa Verde, LLC ("Pasa Verde"), a subsidiary of the Company.  Without local authorization in place, the California Department of Public Health (the "State") was required to revoke Pasa Verde's state temporary manufacturing license.  This does not in any way affect the licensing of the Company's distribution operations under Calyx Brands ("Calyx"), the temporary-licensed cannabis distribution subsidiary of the Company and has minimal impact on Company operations.


Pasa Verde received approval for its building permits from the City on January 16, 2019 and the build-out of the FLI Labs NorCal facility will proceed as planned.  Further, Calyx will continue distributing FLI(TM) products being produced by other licensed cannabis manufacturers in California.


Based upon discussions with the City regarding its decision, the Company is moving forward with the build-out and will apply for a new Business Operating Permit ("BOP") under a new subsidiary of the Company. We anticipate the BOP being finalized before the completion of the build-out.


Jim Frazier, CEO of Nutritional High, commented, "While we had hoped to maintain the local authorization at FLI Labs NorCal and secure the BOP early on in the build-out period, this is a minor shift in our operations.  We look forward to working with the City on a new BOP, completing the build-out and moving forward with fully compliant manufacturing, production and packaging operations at scale in Sacramento."


About Nutritional High International Inc.


Nutritional High develops, manufactures and distributes cannabis extracts and edible products under recognized brands for medical and adult use, in accordance with state and local law.


Nutritional High has brought its flagship FLI(TM) edibles and extracts product line from production to market through its wholly-owned subsidiaries in California and Oregon, and in Colorado through a third-party licensed producer. In California, the Company distributes its products and products manufactured by other leading producers through its wholly-owned distributor Calyx Brands and is entering the Nevada, Washington State and Canadian markets in the near future.


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 and Instagram or visit www.nutritionalhigh.com.


For further information, please contact:


David Posner


Co-Chairman of the Board


Nutritional High International Inc.


+1 647.985.6727


Email: [e-mail]


Wynn Theriault


Thirty Dash Communications


+1 416.710.3370


Email: [e-mail]


Lauren Frank


Allison+Partners


+1 623.201.5572


Email: [e-mail]


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.  Risks that may have an impact on the ability for these events to be achieved include completion of the ability to effectively execute on the strategies contemplated in this press release.  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.


The 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. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the u
 ncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.


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Fiscal year ends Jul 31, 2015. Values are displayed in millions. Currency is displayed in USD. () = Negative Values.
*GAAP = prior to non-GAAP analyst adjusted earnings.

K=Thousands, M=Millions, B=Billions, TTM=Trailing 12 Month, MRQ=Most Recent Quarter, FYR=Fiscal Year End,
NM=Not Meaningful, NA=Not Available, GAAP = Generally Accepted Accounting Principles used in Financial Statements
issued by the company, Non-GAAP = Adjusted Operating Earnings or Revenue used in comparison to Analyst Estimates.
Adjustments are typically one-time gains or losses.

12.45 PM Oct 01, 2014

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