TORONTO, ONTARIO--(Marketwired - Feb. 27, 2017) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT)(OTCQB:SPLIF)(FRANKFURT:2NU) wishes to comment on recent statements made by some of the members of US Presidential Administration in regards to US Federal Government's stance on the cannabis industry in the US.
In response to a question during a media scrum, White House spokesman, Sean Spicer commented that the US Federal Government may consider greater enforcement of federal law against recreational cannabis use, while at the same time, distinguishing between medical and recreational cannabis use and indicating that any enforcement action would likely exclude the medical market. As well, we note that Spicer, earlier in the press scrum, indicated specifically that the Republican Party is a "States' Rights party".
Nutritional High applauds the Trump Administration's indication that it will not seek to enforce federal prohibitions against medical use cannabis. Furthermore, given the Administration's stated "States' Rights" focus, we expect any federal enforcement of anti-marijuana laws to focus on the black and grey markets operating outside of, or in violation of state law.
Regardless of the direction of the Administration's regulation and enforcement of anti-marijuana laws, we wish to reassure our shareholders that since the Company's inception, we have taken and will continue to take precautions to mitigate against potential regulatory risks. Nutritional High carefully develops risk mitigation strategies in order to create and protect shareholder value in a sustainable manner. We note that the Company strives to serve both the medical and adult use cannabis markets across the United States and we continue to monitor regulation on both the state and federal levels to ensure long-term sustainability of Nutritional High's business.
We believe that regulation is more effective than prohibition and welcome the government's involvement in order to promote safety in both the medical and adult use segments of the cannabis market, encourage high levels of standards and professionalism, and to reduce crime. The Company's operations and partners operate within the strictest confines of the Cole Memo and the management is committed to running the business with utmost professionalism.
We also note that there have been a number of positive developments that move the United States closer to ending the prohibition on cannabis, including a recent bill introduced on February 7, 2017 by Rep. Rohrabacher, Dana [R-CA-48] coined as H.R.975 - Respect State Marijuana Laws Act of 2017. If passed, H.R.975 bill would amend the Controlled Substances Act in such a way that state legalization would no longer tempt federal interference1.
Jim Frazier, CEO of Nutritional High commented - "We certainly live in very interesting times, where the legislators are starting to pay serious attention to the cannabis industry. We remain convinced that effective and timely regulation as opposed to prohibition is the best way to go to reduce negative externalities in the industry and derive positive health benefits that the cannabis plant offers. To date, 28 states have legalized cannabis for medical use, which represents approximately 62% the country's population and clearly affirms the American people's positive attitude towards cannabis."
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the hemp and marijuana-infused products industries, 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.
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.