TORONTO, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE: EAT, OTCQB: SPLIF, FRANKFURT:2NU) is pleased to announce that operations have started at its "FLI Labs NorCal" manufacturing facility in Sacramento, California.
FLI Labs NorCal, owned by the Company's wholly-owned subsidiary Pasa Verde LLC ("Pasa Verde"), will manufacture a wide range of products under Nutritional High's FLI brand. Initial product offering will include micro dosed press tabs, vape cartridges, syringes and dab jars. Following the initial launch, FLI Labs NorCal will roll out FLI-branded cannabis-infused edible products that will include chocolates and other innovative products. Pasa Verde holds a Temporary Type 6 License with the California Department of Public Health.
High Velocity of Market Penetration
Jim Frazier, CEO of Nutritional High, commented: "This is a long-awaited day for Nutritional High and we are all excited to start production at Pasa Verde's newly christened "FLI Labs NorCal" facility and launch the FLI-branded products into the California marketplace from our own facility. Operating our own production in California will allow us to increase our velocity of FLI products into the market and significantly expand production delivery capabilities, the number of SKU's we can offer, and reduce our unit costs. With over 17,000 square feet of manufacturing space, FLI Labs NorCal will produce a substantial amount of product that will help us gain current market share and give us the ability, through innovation, to build new markets that captivate consumers by supplying high quality products and unique experiences."
Mr. Frazier continued: "FLI Labs NorCal is a key strategic piece of Nutritional High's corporate vision in California and we will continue to work on expanding our footprint with additional strategic acquisitions in the near future. With Calyx Distribution providing full sales support and distribution services we feel that our FLI-branded products will take the California market by storm and create tremendous opportunity for Nutritional High to gain market share quickly."
David Posner, Chairman of Nutritional High, commented as follows: "This is a great day for Nutritional High and now all of the hard work that everyone has put into the vision has paid off. California is a key focus for Nutritional High and we are anxious to take the next steps and continue to build shareholder value."
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
The Company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales, and distribution sectors of the cannabis industry. Nutritional High has brought its flagship FLÏ™ edibles and extracts product line from production to market in California through its wholly owned manufacturer, Pasa Verde LLC and its wholly owned distributor Calyx Brands Inc., and Colorado where its products are manufactured by a licensed producer. The Company also owns a 50% interest in The Clinic Effingham, an Illinois dispensary, and is entering the Nevada, Washington State, Oregon and Canadian markets in the near future.
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+ or visit www.nutritionalhigh.com.
For further information, please contact:
Chairman of the Board
Nutritional High International Inc.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS 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 the terms and conditions for future payments to the Vendor and to FMI; management's plan to integrate the Pasa Verde team into its operations across its various segments, management's belief that Pasa Verde will help the Company to secure its supply chain and further develop its suite of value added product offerings in the California marketplace, and management's expectation the transaction will improve the Company's cost structure and further enhance its ability to create value for its shareholders. 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. For a discussion of these risk factors, please see the Company's interim management's discussion and analysis for the nine months ended April 30, 2018 and the Company's annual management's discussion and analysis for the year ended July 31, 2017 available at www.sedar.com under the Company's profile. 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.