TORONTO, Feb. 12, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTC:SPLIF) (FRANKFURT:2NU) is pleased to announce that the shareholders of Calyx Brands Inc. ("Calyx") have approved an acquisition of 100% of Calyx's assets ("Acquisition") by Nutritional High. To this end, the Company and Calyx have entered into asset purchase agreement ("APA") setting the closing date of the acquisition at the end of February 2018. The terms of the acquisition remain unchanged from the previous update provided by the Company on November 7, 2017.
Jim Frazier, CEO of Nutritional High, commented – "We are very excited to continue advancing the acquisition of Calyx and are excited to pursue a partnership that will help us secure a leading foothold in the California cannabis market. Legal sales of cannabis in California for adult use are just around the corner and having a strong distribution channel will be key in establishing Nutritional High and its brands as market leaders. We look forward to working with Mr. Dakota Sullivan and his team as we join forces in this exciting time."
Dakota Sullivan, CEO of Calyx, commented - "The Calyx team is very happy to be formally joining the Nutritional High fold. We've been working well together these past few months and Nutritional High's support has been critical at this time of great growth as the California marketplace adopts adult-use recreational cannabis. We are excited to service both the medical and adult-use markets under the Nutritional High banner."
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the marijuana-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.
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:
David Posner, 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 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.