23:38:12 EDT Thu 18 Apr 2024
Enter Symbol
or Name
USA
CA



Nutritional High International Inc
Symbol EAT
Shares Issued 291,216,320
Close 2018-12-07 C$ 0.205
Market Cap C$ 59,699,346
Recent Sedar Documents

Nutritional target receives pot store licence in Nevada

2018-12-07 09:54 ET - News Release

Mr. Jim Frazier reports

NUTRITIONAL HIGH DELIGHTED BY GRANT OF CONDITIONAL APPROVAL OF GREEN THERAPEUTICS DISPENSARY LICENSE IN NEVADA

Nevada-based Green Therapeutics LLC, Nutritional High International Inc.'s acquisition target, has successfully received conditional approval from the State of Nevada Department of Taxation, granting Green Therapeutics a retail marijuana store licence. The licence allows it to operate a retail marijuana store within Douglas county. The licence is considered conditional, subject to all applicable local and state government requirements.

As announced in the company's press release dated Oct. 1, 2018, Nutritional High International has entered into definitive agreements to acquire 75 per cent of Green Therapeutics, along with a put-and-call option to buy the remaining 25-per-cent interest. The closing of the acquisition is pending local and state regulatory approval. The granting of the licence effectively provides Green Therapeutics additional opportunities in revenue growth and bodes well for further business expansion across the state.

Green Therapeutics has each of two fully licensed grow and extraction facilities in North Las Vegas and Clark county, and is in the midst of building out a larger state-of-the-art grow and extraction facility to accommodate the company's plans for growth and expansion. Green Therapeutics produces and sells cannabis flower and manufactured cannabis products to a number of Nevada dispensaries. In addition to producing and selling cannabis flower, Green Therapeutics manufactures dabs, vape pens, cartridges, oral sprays, topical creams and prerolls. Nutritional High International has been working closely with Green Therapeutics to finance its expansion and growth of the Tsunami and Provisions product lines in Nevada. The company is working with Green Therapeutics to launch its FLI-branded edibles to the wider Nevada market.

"The Nevada market is a priority for Nutritional High," commented Jim Frazier, chief executive officer of Nutritional High International. "We are very pleased with Green Therapeutics' success in receiving the conditional approval, especially given that it was a competitive process with few, but established, retailers winning multiple licences. This further demonstrates that the Green Therapeutics team can compete with other market leaders."

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 with 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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.