TORONTO, April 12, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to provide a strategic update on its acquisition of Green Therapeutics LLC ("Green Therapeutics") (please see press release dated March 13, 2018). The Company also announces that is has accepted the resignation of Chief Operating Officer (COO) Robert Keeler, effective immediately.
Update on Green Therapeutics
Nutritional High is pleased to announce the recent visit of Green Therapeutics’ CEO Duke Fu to the Company’s industrial facility in Pueblo, Colorado ("Pueblo Facility"), which is leased to Palo Verde LLC, a tenant licensed to manufacture marijuana-infused products. This visit marks the starting point of a relationship between the parties that is expected to garner significant levels of shared expertise in operations, IP, and branding cross-development. Upon integration of the acquisition the Company will commence sales of FLI-branded products in the State of Nevada through Green Therapeutics’ existing distribution channels, which will be manufactured by Green Therapeutics at its existing facility in Las Vegas, using the Company's manufacturing processes. The Company also anticipates developing the distribution relationships with the Company's licensed tenants and business counterparts in the States of California, Colorado, Washington, Illinois and Oregon, to allow Green Therapeutics to sell its branded products in those markets through the licensed channels, where permitted by regulation. Green Therapeutics currently offers a range of products including ultra-premium flower, extracts, vaporizer cartridges and topical products under its "Provisions", "GT Flowers" and "Tsunami" brand names.
Green Therapeutics CEO Duke Fu, commented: "I was very pleased by the operational efficiencies and shared vision I observed through my visit to the Pueblo facility. These factors bode extremely well for the future of the consolidated company and I am proud to be joining the team. As we move towards closing the acquisition, we look forward to increasing the footprint of our products in other states, where these products are permitted by regulations."
Jim Frazier, CEO of Nutritional High added: "We look forward to working with Duke Fu and his team in an effort to introduce our products in the State of Nevada, which will be a key market as we continue to secure a foothold for our FLI-branded products across the country. The arrangement with Green Therapeutics is one of the examples of how we implement our cross-branding strategies to gain market share in various markets. As we continue to gain scale through organic growth and acquisitions, we believe it is important to develop and execute marketing initiatives that place brands at the forefront of our corporate strategy."
Resignation of Robert Keeler
The Company recently accepted the resignation of Robert Keeler from his position of COO. The change is effective immediately, and CEO Jim Frazier will assume Mr. Keeler's role temporarily while a search is conducted to replace him. The Company thanks Mr. Keeler for his contributions as COO and wishes him success in his future endeavours. Mr. Keeler has been with Nutritional High since June 2016 and has previously served as a director of the Company, during an important stage of its development.
"Robert has helped lay important ground work for Nutritional High and was instrumental in achieving several significant milestones. We thank Robert for his contributions and wish him the best of success in his future ventures.", added Jim Frazier, CEO of Nutritional High.
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 and Instagram 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.
Source:Nutritional High International Inc.