FLI Coming to Canada- Nutritional High and Canada House Announce the Signing of a Formal Joint Venture Agreement
TORONTO, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Nutritional High International Inc. ("Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) and Canada House Wellness Group Inc.’s ("Canada House") (CSE:CHV) wholly owned subsidiary Abba Medix Corp. (“Abba”) (collectively the “Companies”) are pleased to announce that the Companies have entered into a definitive agreement in connection with the previously announced Joint Venture (“Joint Venture”) to manufacture cannabis oil extracts and cannabis-infused products in Canada under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") (see press release dated October 18, 2017).
The Joint Venture is structured as a 50/50 partnership and will see Nutritional High and Abba build-out a production facility at Abba's Pickering facility to house a cannabis oil extraction operation focused on producing the oils and extracts currently permitted under ACMPR.
Nutritional High is working closely with Abba to secure a supplemental license from Health Canada for the production of medical cannabis oils. The Companies are looking forward to completing the facility build-out and servicing the Canadian medical cannabis market with alternative, more convenient and dose-controlled consumption methods. Once the appropriate regulatory frameworks are established, the Joint Venture will seek to service the Canadian recreational market as well.
Larry Bortles, Chairman of Canada House, commented: “This partnership provides our company with a platform to become one of the leading cannabis extracts companies in Canada and opens up opportunities to tap the global market for cannabis extracts.”
Jim Frazier, CEO of Nutritional High commented: “We are excited to be moving forward with the Joint Venture and look forward to working closely with Abba to replicate the operating model we’ve successfully deployed in the U.S.”