Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Nutritional High Applauds Legislative Changes to the Illinois Medical Marijuana Program

TORONTO, ONTARIO--(Marketwired - July 5, 2016) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT)(OTCQB:SPLIF)(FRANKFURT:2NU) welcomes the progress of passing Amendment 3 to Senate Bill 10 in Illinois.

This measure extends the state's medical cannabis pilot program by an additional 2 1/2 years, to July 1, 2020, and expands the list of qualifying conditions, to include post-traumatic stress disorder ("PTSD"). PTSD is the only medical condition that was approved for a research study by the US Drug Enforcement Administration ("DEA") in context of medical cannabis.

Also as part of the legislative change, in order for a patient to receive their medical marijuana card, their doctor must no longer "recommend" the use of cannabis. Instead, their doctor must simply certify that a legitimate doctor-patient relationship exists, and that the patient in question has a qualifying condition. This change is expected to improve access for patients in the State.

These changes provide for improved access to medical cannabis in the State of Illinois and in the Company's view expands the potential patient base, further improving the fundamentals of the Company's business prospects in the State.

David Posner, CEO of Nutritional High commented - "This development has a positive impact on operations of our dispensary, especially in light of the Effingham move. We look forward to commencing operations in the near future."

Illinois Market Update

According to the statistics published by the State of Illinois, as of early June, Illinois had 7,000 qualifying patients, including 52 people under the age of 18, and 9,200 who submitted a complete application. There are currently 37 dispensaries which are permitted to sell medical cannabis to qualified patients.

Joseph Wright, former program coordinator for the Illinois Medical Cannabis Pilot Program, announced that registered dispensaries logged nearly $2.3 million in sales for the month of May, which is a slight increase from April's sales total of $2.2 million. This totals an average of just over $60,000 of retail sale per location, which according to Company's internal analysis is above the break even. The Company believes this signals the normalization of the market conditions in the State.

According to the Associated Press and other sources, since the program's launch on November 9, 2015, retail sales in Illinois have totaled $10.8 million.

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+.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC, NOR ITS REGULATIONS SERVICES PROVIDER 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. 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.

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.

Transcend Capital Inc.
Etienne Moshevich
Investor Relations
604-681-0084
et@transcendcapitalinc.com

Nutritional High International Inc.
David Posner
CEO
647-985-6727
dposner@nutritionalhigh.com



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today