TORONTO, Nov. 07, 2017, SPLIF, EAT, (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High“) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that is has entered into a letter of intent (“LOI”) to acquire a 100% interest in Calyx Brands Inc. (“Calyx”), a California based distributor actively engaged in distributing cannabis products to legal dispensaries in California.
Calyx is a leading distributor of cannabis products throughout California and is conditionally approved for a Distributor and Transporter Permit issued by the City of Oakland. Through its distribution operation, Calyx serves as the link between producers and retailers in California’s burgeoning medical cannabis markets and will be able to transition quickly to serve the needs of the adult-use cannabis market. Calyx also operates a digital platform, which gathers strategic data on brand performance at the retail level and serves as a reporting system providing real-time insight into how brands can better help meet the needs of dispensaries in their target area.
Jim Frazier, CEO of Nutritional High commented – “In acquiring Caylx, we will work with their team to build their product offering and distribution channels as California adopts recreational adult use cannabis in the new-year. As our Sacramento facility comes on-line in 2018, we expect Calyx to provide a strategic platform which will afford us the ability to come in on day one and begin moving FLI branded products through an established sales channel with broad reach into dispensaries up and down the California coast.
“Developing superior distribution channels will be a key competitive advantage for FLI as it will allow us to accelerate sales, establish our brand and capture market share in the largest legal cannabis market in the world,” added Mr. Frazier. “We are also looking forward to working through the due diligence process and integrating the Calyx team into our operations across North America.”
Dakota Sullivan, CEO of Calyx commented – “Nutritional High is partnering with Calyx Brands at exactly the right time. There are strong synergies between their national expansion plan and our California distribution infrastructure, data and experienced sales organization. In just six months between March and August, 2017, medical cannabis sales in California surpassed total sales for medical and recreational cannabis in Colorado for the entire year ending July 2017. By launching Nutritional High products in California in addition to the other premium brands we represent, we look forward to making Nutritional High a lead player in the next chapter of explosive growth that begins in January with the opening of recreational stores.”
Bowman/Hanson Mergers and Acquisition Services served as exclusive financial advisor to Nutritional High International, Inc. in the transaction.
About Bowman/Hanson
Bowman/Hanson is a San Francisco based investment bank providing sell-side and buy-side advisory services to market leading cannabis companies. For further information visit our website at www.bowmanhanson.com or contact Kris Karlson at karlson@bowmanhanson.com
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: dposner@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.
