Post by
oggyswain on Apr 12, 2018 1:12pm
News
Nutritional High Receives CUP for State of the Art Cannabis-Infused Edibles and Extracts Facility in Sacramento, CA
2018-04-12 01:10:27 PM ET (GlobeNewswire)
Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce the approval of its conditional use permit application ("CUP") by the City of Sacramento, Community Planning Department for a 9,000 square foot property located in Sacramento ("Sacramento Property") that is being leased by the Company. The CUP approval sets out the conditions of using the Sacramento Property to manufacture cannabis products using non-volatile solvents, which moves the Company closer to being licensed to manufacture cannabis products in-house, rather than relying on contract manufacturing partners. Aaron Johnson of JRG Attorneys at Law, who also serves as a director of the Company represented Nutritional High in Sacramento.
The next step for the Company will be the submission of an application for formal business operating permits ("BOP") with City of Sacramento, Office of Cannabis Policy and Enforcement, as well as building permits to commence construction at the Sacramento Property. Upon receiving requisite approvals and completing the build-out, the Company intends to commence manufacturing at the facility and continue to expand sales of its FLI branded products in the California market. Bringing the manufacturing capability in-house, the Company will be able to achieve higher product sales margins, exercise greater control over quality control and provide the flexibility in adding new product lines. The Company also has a purchase and sale agreement to purchase the Sacramento Property upon obtaining requisite regulatory approvals.
Manufactured cannabis products have experienced rapid sales growth since legalization in California, with sales of cannabis concentrates increasing 36% between January and February of 2018, from $43.2m to $58.7m according to BDS Analytics.
Jim Frazier, CEO of Nutritional High, commented, "We are very excited to achieve this significant milestone at our Sacramento facility. Municipal approval of our CUP application brings us one step closer to being able to manufacture our value-added extract products in California, a key strategic market for us."
Aaron Johnson, also added, "Establishing a location in Sacramento further exemplifies Nutritional High's commitment to efficiency and logistics in a cannabis industry that is rapidly moving toward modern business models."
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing premium and consistently dosed products in the cannabis-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.
Comment by
Greede on Apr 12, 2018 6:15pm
Also makes EAT a far more DELECTABLE candidate for a buyout, we have the licenses, distribution and revenue-generating businesses intact and whenever one of the big boys decides to enter into the US market full bore, with what EAT now represents, we will be very likely EATen up by a larger company at a TASTY price.
Comment by
HandyAfterall on Apr 12, 2018 3:04pm
GREAT news! Very happy to see some significant progress. Been some dark times, lately. Have fun, all handy