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USA
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Nutritional High International Inc
Symbol EAT
Shares Issued 291,216,320
Close 2018-11-12 C$ 0.235
Market Cap C$ 68,435,835
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Nutritional completes sale, leaseback of equipment

2018-11-12 16:24 ET - News Release

Mr. David Posner reports

NUTRITIONAL HIGH COMPLETES SALE AND LEASEBACK OF EQUIPMENT AT ITS LA PINE OREGON FACILITY

Nutritional High International Inc. has completed a sale and leaseback financing of certain equipment located at its La Pine, Ore., facility for gross proceeds of $438,407 (U.S.) to Veterans Capital Fund II LP. In addition, Nutritional High issued 156,574 common share purchase warrants to the buyer. Each warrant entitles the buyer to purchase one common share in the capital of the company at a price of 70 cents per common shares for a period of 24 months from the date of issuance. The equipment sold by the company to the buyer comprises substantially all of the equipment used by Nutritional High at the La Pine facility.

Pursuant to the agreement with the buyer, the company will continue to utilize the equipment to process a wide range of products under its FLI brand, including its vape cartridges, syringes and dab. Nutritional High will roll out FLI-branded cannabis-infused edibles including chocolate bars, shots, additional syringe offerings and other innovative products. The FLI edibles are expected to roll out in the first quarter of 2019. The company has successfully completed the first batch production for laboratory testing through the cold ethanol extraction equipment.

Located in the city of La Pine, 30 miles from scenic Bend, Ore., the facility comprises three contiguous parcels of land totalling an aggregate of 18,295 square feet (0.42 acre) with 4,662 square feet of manufacturing and office space and 540 square feet of mezzanine storage space. Nutritional High completed the facility buildout and was granted a marijuana processor licence for the facility by the Oregon Liquor Control Commission in early September, 2018. With the expansion and development of the facility, the company is well situated to serve the Portland market as well as smaller centres across the state.

Jim Frazier, chief executive officer of Nutritional High, commented: "The leaseback gives us the flexibility and additional capital to better serve the La Pine facility, as well as other Nutritional High operations, potential investments and partnerships as the company grows. We are very excited about the development and production in Oregon and look forward to introducing our flagship FLI-branded products into the state in November."

About Nutritional High International Inc.

Nutritional High International 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. Nutritional High International works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.

Nutritional High International follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales and distribution sectors of the cannabis industry. Nutritional High International has brought its flagship FLI edibles and extracts product line from production to market in California through its wholly owned distributor, Calyx Brands Inc., and Colorado, where its products are manufactured by a licensed producer.

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