Update on Acquisition Closing and Share Consolidation Toronto, Ontario--(Newsfile Corp. - August 27, 2021) - Nutritional High International Inc. (CSE: EAT) ("Nutritional High" or the "Company") is pleased to announce that August 31, 2021 is the anticipated date for closing of the acquisition of the business of OutCo Labs Inc. ("OutCo") previously announced on June 21, 2021. ("Acquisition"). Further, in connection with the Acquisition of OutCo, the Company announces that it will proceed with a previously approved 20:1 share consolidation which shall take effect on September 3, 2021.
OutCo Acquisition
Based in San Diego California, OutCo is a leader in the cannabis industry with 2020 revenues of approximately US$8 million. Specializing in manufacturing and retailing premium quality cannabis flower, high margin extract products, award-winning vape cartridges, tinctures, topicals, capsules and flower products.
OutCo operates two licensed dispensaries located in unincorporated San Diego County California as well as a 15,000 sq. ft. vertically-integrated cultivation, extraction and product manufacturing facility situated in El Cajon, California. OutCo also owns and operates an outdoor cultivation operation and nursery in Mendocino County.
Pursuant to the terms of the Agreement and subject to the closing of the Acquisition, Lincoln Fish, OutCo's CEO, will join the Board of Directors of the Company and continue to lead the OutCo team.
https://www.newsfilecorp.com/release/94660/Nutritional-High-Provides-an-Update-on-Acquisition-Closing-and-Share-Consolidation