TORONTO, April 24, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTC:SPLIF) (FRANKFURT:2NU) is pleased to announce its joint venture partner Abba Medix Corp. ("Abba Medix") has received its License to Produce Cannabis Oil from Health Canada under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). Nutritional High recently entered into a joint venture with Abba Medix (see press release dated October 17, 2017) to manufacture cannabis oil extracts and cannabis-infused products in Canada under the Company's FLI brand once permitted by regulation. Abba Medix will commence cannabis cultivation at its Pickering, Ontario facility ("Pickering Facility") on May 1st, 2018 and seek to begin producing FLI-branded cannabis oil extract products shortly thereafter.
As part of the joint venture of which it owns a 50% interest, the Company designed and is currently building out an approximate 2,000 square foot area of the 22,000 square foot Pickering Facility. Going forward, the Company will seek to build-out, staff and organize the operations of the facility to maximize production capacity. As part of its lease, Abba Medix is approved to expand its facility by an additional 27,500 square feet, for a total of 49,500 square feet, offering significant expansion potential going forward.
David Posner, Chairman and Director of Nutritional High, commented: "We commend Abba Medix on this significant milestone and look forward to further developing our relationship with them as they bring oil production capabilities online. The Canadian market is a significant aspect of our international strategy and this development will allow us to advance our strategic objectives in that market. Going forward, we will look to develop our operations in numerous other markets to establish an integrated, best-in-class producer of cannabis extracts and infused products."
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing premium and consistently dosed products in the cannabis-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.
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Chairman of the Board
Nutritional High International Inc.
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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. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals. 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.
The 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. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.