08:39:27 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Nutritional High International Inc
Symbol EAT
Shares Issued 291,216,320
Close 2018-11-07 C$ 0.27
Market Cap C$ 78,628,406
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Nutritional High comments on midterm election results

2018-11-08 13:01 ET - News Release

Mr. David Posner reports

NUTRITIONAL HIGH COMMENTS ON RESULTS OF MIDTERM ELECTIONS AND KEY REGULATORY DEVELOPMENTS IN US CANNABIS INDUSTRY

Nutritional High International Inc. wishes to provide comments on the results of the midterm election and key regulatory developments in the United States.

The midterm election

U.S. voters delivered a split verdict in the midterm election for Congress yesterday evening. The Democrats secured a majority in the House of Representatives while Republicans have further expanded their majority in the Senate. Over all, Democrats have surpassed the 218 seats needed for a House of Representatives majority while the Republicans increased their seats in the Senate with 51 seats out of 100.

A good result for the cannabis sector

Senior management at Nutritional High views the results as catalyst for the cannabis sector to reinforce the notion that cannabis in the U.S. has the tipping point on its way to eventual full legal status. Clarity on banking rules, according to Bloomberg, could help to close the valuation gap between U.S. stocks and their Canadian counterparts. On the other hand, pro-cannabis legislation would still have to pass the Senate and the Executive Branch but now with recently embattled Attorney Jeff Sessions resigning under pressure from President Trump, it seems the path to legalization just got a little clearer.

The STATES Act and opportunities for continued growth

With divided congressional power, there will be opportunity for bipartisanship on a number of issues, including the Strengthening the Tenth Amendment Through Entrusting States Act, S. 3032 (the STATES Act), This long-awaited piece of legislation would protect individuals working in cannabis sectors from federal prosecution. The STATES Act was introduced in June, 2018, through bipartisan efforts initiated by Senator Cory Gardner (Republican from Colorado) together with Senator Elizabeth Warren (Democrat from Massachusetts). Ms. Warren won re-election, which ensures she will push the change to federal law regarding cannabis.

In addition, constituents of Michigan voted to legalize recreational marijuana, making Michigan the first state in the Midwest to do so and the 10th in the U.S. over all, demonstrating growing sentiment among Americans toward legalization. Voters in Missouri and Utah approved ballot measures legalizing cannabis for medical use, making their states the 31st and 32nd to do so giving confidence to other states to follow suit. However, voters in North Dakota did not pass an initiative to legalize recreational use. The results are largely positive, indicating continuing and growing opportunities the U.S.

"With development and existing presence in our targeted states of California, Nevada, Colorado, Oregon and Washington, we are excited about the regulatory-positive catalysts and looking forward to deepening Nutritional High's presence in these markets and seeking ways to leverage our expertise into the new markets," commented Jim Frazier, chief executive officer of Nutritional High.

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law. The company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales and distribution sectors of the cannabis industry.

We seek Safe Harbor.

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