TORONTO, Aug. 18, 2017 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) wishes to provide an update on its efforts to enter the Nevada cannabis market. Nutritional High is working with a private investor group (the “Consortium”) made up of US residents who will build out and launch operations in Nevada. Subject to municipal approval, the Consortium will purchase a majority interest in the entity (the “Licensed Producer”) that currently holds the cultivation and production licences which Nutritional High had intended to purchase. The Company decided to work with the Consortium rather than to purchase the licenses itself in order to meet certain residency requirements contained in municipal ordinances. The Licensed Producer will manufacture and distribute Fli branded products in Nevada. To this end, in conjunction with discussions with municipal staff, Nutritional High has withdrawn its application for business licensing.
Nutritional High Corporate Secretary comments as follows: “We have been working in a cooperative manner with applicable regulators in order to proceed in a manner which meets the needs of the local community, the State of Nevada, Nutritional High and Nevada consumers looking for an opportunity to purchase Fli branded product in Nevada. While working to meet and exceed required cannabis regulations and compliance guidelines, we believe that cooperative and open discussions with municipal and state personnel is of upmost importance and will result in the best outcome for the Company and consumers.”
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.
For further information, please contact:
Jim Frazier, CEO
Nutritional High International Inc.
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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.