Nutritional High International Inc.
CSE : NHL
OTCQB : SPLIF

Nutritional High International Inc.

July 09, 2015 14:39 ET

Nutritional High Comments on Health Canada Statement Regarding Cannabis Derivatives and Announces AGM Results

TORONTO, ONTARIO--(Marketwired - July 9, 2015) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:NHL)(OTCQB:SPLIF) is pleased with Health Canada's statement on July 8, 2015 regarding use and manufacturing of cannabis derivatives. Following the Supreme Court of Canada's decision in R. v. Smith, effectively removing restrictions on the possession of cannabis derivatives, Health Canada has taken steps to issue a section 56 exemption under the Controlled Drugs and Substances Act ("CDSA"), allowing companies ("Licensed Producers") which have obtained a license under Marihuana for Medical Purposes Regulations ("MMPR"), to produce and sell cannabis oil and fresh marijuana buds and leaves in addition to dried marijuana. The exemption under CDSA sets out the basic framework which Licensed Producers must follow to provide a legal source of cannabis oil and fresh marijuana buds and leaves.

David Posner, CEO of Nutritional High commented - "Cannabis oil extracts and edible products are a core of the Company's business and Nutritional High is pleased with the steps Health Canada is taking to regulate cannabis derivatives. In the United States, Nutritional High only conducts business in the states which have implemented adequate regulatory framework and this development provides another piece of the puzzle necessary to qualify Canada as an attractive market to target for potential expansion. Nutritional High is evaluating various alternatives to capitalize on this opportunity. We expect that as the market continues to evolve, ability to produce high quality extract and edible products will be imperative to securing market leadership."

Results of 2015 Annual General Meeting

Each of the director nominees proposed by management for election was elected to the Board of Directors: Billy A. Morrison was newly elected and Statis Rizas, David Posner, David Caplan, Michael Pesner, Brian Presement and Adam Szweras were re-elected to the Board of Directors. The Directors were approved with the following percentages:

Name of Nominee Percentage
Statis Rizas 98 %
David Posner 98 %
David Caplan 98 %
Michael Pesner 98 %
Billy A. Morrison 98 %
Brian Presement 98 %
Adam Szweras 98 %

At the meeting, shareholders also approved the following resolutions:

  • To set the number of directors to be elected to the Board of Directors at seven
  • Re-appointment of Collins Barrow Toronto LLP as auditors for the ensuing year and authorizing the directors to fix their remuneration
  • Ratification, confirmation and approval of the Company's 10% rolling stock option plan

Michael Dacks resigned from the board, as announced in the press release dated June 11, 2015, and did not stand for re-election in order to pursue other business interests.

About Nutritional High International Inc.

Nutritional High is primarily focused on developing, acquiring and designing products and brands in the marijuana-infused edible products and oil extracts sectors for medical and adult recreational use. The Company works exclusively in U.S. states where such activity is permitted and regulated by state law, through entities which hold a valid license to produce marijuana-infused edible products and to distribute, and dispense marijuana products.

For updates on the edibles industry and highlights of the Company's press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC, NOR ITS REGULATIONS SERVICES PROVIDER 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.

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