TORONTO, May 10, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTC:SPLIF) (FRANKFURT:2NU) is pleased to provide an update on its subsidiary Calyx Brands, Inc. (“Calyx”). Calyx is a leading distributor of cannabis products throughout California and the Company closed its acquisition of Calyx in March of 2018 (see press release dated March 16, 2018). The Company would also like to announce the granting of stock options to several members of the board and key consultants.
Calyx Experiences Record-Breaking Month of April
The Company is very pleased to report Calyx booked record-breaking revenues in excess of USD$1 million in April, eclipsing its previous monthly record. Calyx is currently rolling out its California-wide distribution strategy and will look to continue to build on the momentum it has generated so far.
Dakota Sullivan, CEO of Calyx, commented, "We are very proud of our progress so far and are looking forward to continuing to develop our distribution business in California. Going forward, we will continue to leverage Nutritional High’s significant experience to drive value for our customers and Nutritional High shareholders."
Jim Frazier, CEO of Nutritional High, added, "We are very excited to share these developments with our shareholders and look forward to sharing future updates as we continue to execute on our corporate strategy in California.”
Issuance of Stock Options
The Company would also like to announce the Board of Directors (the “Board”) has approved the issuance of an aggregate of 3,700,000 stock options ("Stock Options") to members of the board and key consultants (“Consultants”). The Stock Options were granted on May 8th, 2018 and are exercisable into Common Shares at a price of $0.36 per Common Share for a period of five years from the date of issuance, subject to certain vesting provisions in accordance with the Company’s stock option plan.
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. 647-985-6727 Email: email@example.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 the ability of Calyx to provide a strategic platform and established sales channel for the Company's FLI branded products and to expand Calyx into all regions of California and develop programs and deliver customer satisfaction. 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.