Nutritional High is impressed with the progress that has been made since the launch announcement on February 22, 2017. Palo Verde team has been focused on streamlining the production process in anticipation of radically scaling up the throughput, while maintaining strong extraction yields.
Since the initial launch Palo Verde has manufactured over 7,000 grams of cannabis oil distillate and approximately 3,000 FLI cartridges. The focus of equipment and extraction process calibration has been to achieve higher THC content for the final oil product, while ensuring that the gross extraction yields remain in line with expectations. The THC content has improved from high 70s percent for the initial batches to over 90% for the more recent batches, with some batches achieving over 95% THC content. At this time, the throughput is estimated at 20-40 lbs of trim per day with an estimated yield of 8-10%. The throughput has been increasing as a result of the new equipment being installed since the initial launch. The process upgrades also allowed to remove more unwanted compounds out of the oil, which has resulted in higher purity product.
Palo Verde continues to accept sales orders for FLI cartridges and bulk oils, which have performed well in the Colorado market and there have been repeat orders. The average wholesale price of the FLI cartridges has been $16 per 0.5g cartridge, which ranges depending on the final THC content of each product. In order to accelerate product sales Palo Verde has also augmented its sales team by hiring another sales representative and intends to bring on more to strengthen its salesforce.
Jim Frazier, CEO of Nutritional High commented: "We're very pleased with how the production ramp-up is progressing. The team has come a long way since commencing commercial production in late February and we look forward to FLI cartridges building a strong consumer market presence in Colorado, and nationally as Nutritional High established facilities in other states."
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+ or visit www.nutritionalhigh.com.
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 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.