TORONTO, ONTARIO--(Marketwired - Sept. 27, 2016) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT)(OTCQB:SPLIF)(FRANKFURT:2NU), is pleased to report key developments at its project in West Pueblo, Colorado.
Palo Verde Key Hires
Nutritional High is pleased to announce that Palo Verde has hired a general manager and a salesperson for its cannabis extraction operation at the Company's facility in West Pueblo, CO. Both individuals possess valid cards issued by the Marijuana Enforcement Division and are eligible to work at state-licensed cannabis facilities. The hires were made in the anticipation of Palo Verde commencing production of cannabis oils and infused products, expected to commence during the month of October 2016, contingent on timing of inspection of the facility by the local authorities.
Build-Out and Equipment Installation Status
The Company is pleased to report that Phase I of the build-out is near completion and the necessary equipment has been installed or delivered to the facility. Palo Verde is currently in process of scheduling an inspection with Pueblo Regional Building Department. The Company will post the images of the ongoing construction to the Company's social media pages as the build-out continues to progress.
Billy Morrison, Nutritional High's Director and Head of Extractions commented - "I am very pleased with how the extraction facility is coming together. We're excited to put to use the technology package we've assembled to allow Palo Verde to sell leading edge products in the Colorado market."
Upon completion of Phase I, the Company shall receive the second tranche of the secured building loan of USD $200,000, as announced in the Company's press release dated April 27, 2016. The funds will be used to begin Phase II of building remodelling to allow Palo Verde to manufacture cannabis-infused edible products and to advance additional loans to Palo Verde to fund its working capital as it continues to ramp up production of cannabis oils and infused products.
Product Roll-Out Strategy
The Company is pleased to provide further information on Palo Verde's product strategy for the State of Colorado. As described in the Company's press release dated July 11, 2016, the equipment that is being installed at the Company's Pueblo facility will allow Palo Verde to use an extraction process that utilizes a combination of mechanical separation and short-path distillation to extract essential oils from raw cannabis into high purity product, dubbed as "Clear" in the industry.
Initially, Palo Verde will sell raw oil to other infused products manufacturers followed by cannabis-infused products such as gelatine caps, vape pen cartridges and disposable vape pens. As the products are being introduced, Nutritional High and Palo Verde will continue re-modelling the Pueblo facility to enable Palo Verde to manufacture cannabis infused edible products.
The Company has also engaged a branding consultant to assist in developing packaging for an initial line of Jimi Hendrix-branded products, which will be the first product line to be introduced by Palo Verde in the State of Colorado. The consultant is also developing packaging for subsequent product lines, which will bear Nutritional High's branding.
Changes to German Investor Relations Strategy
The Company wishes to announce that it has terminated its consulting agreement with Deutsche Gesellschaft für Wertpapieranalyse GmbH ("DGWA"). Any investor inquiries should be relayed to Steve Low of Boom Capital Markets, whose contact information is listed below.
The Company will take steps to launch a German language web site and, as announced in the press release dated July 14, 2016, the Company continues to monitor the legislative changes on the German medical cannabis sector and intends to take steps to capitalize upon any potential opportunities at the appropriate time.
Nutritional High's management team thanks all its European shareholders for their strong support, and asks that any prospective investors and existing shareholder get in touch with our investor relations department if they have any inquiries about the Company.
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+.
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.