TORONTO, ONTARIO--(Marketwired - March 18, 2016) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) is pleased to announce that it has amended the terms of its exclusive licensing agreement ("Agreement") with Purple Haze Properties LLC ("PHP"), under which the Company may manufacture and distribute various marijuana and hemp-infused edible products using the song titles and bearing the likeness of iconic guitarists Jimi Hendrix, as described in the Company's press release dated June 8, 2015.
The amendment provides for the early payment of the 2016 exclusivity fee and advance royalty in exchange for the issuance of 5,000,000 Common Shares of the Company to PHP at an effective price of US$0.05 per share rather than the market price as the agreement originally provided.
David Posner, CEO of Nutritional High commented "We're pleased to continue our partnership with Purple Haze Properties as we work to roll-out our products in the United States. The use of Jimi Hendrix's iconic imagery and song titles will surely attract product sampling and sales, thereby allowing us to demonstrate our superior taste, dosing consistency and quality. In particular, PHP's willingness to accept their 2016 fee at a premium to today's market price not only highlights their belief in the future viability of our company but also proves their long-term partnership with Nutritional High."
The products under license include gummies, hard candies and beverages for sale throughout North America.
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the hemp and marijuana-infused products industries, 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+.
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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.
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