Jul 17, 2017
OTC Disclosure & News Service
TORONTO, July 17, 2017 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that it has successfully tested a prototype version of the Dab Stick and is manufacturing a test run of 50 units to be used for focus group testing in certain key markets.
Jim Frazier, CEO of Nutritional High commented: “The Dab Stick product has demonstrated an ability to dispense oil in very small and precise metered doses while avoiding leakage and product spoilage – a key engineering challenge that similar products have failed to overcome. The Dab Stick will allow consumers and patients to dose the oil according to need and feeling for both, medical and adult use. The recent prototype demonstration has affirmed our view that the Dab Stick will be a transformative product to the marijuana oils and edibles industry.”
The Dab Stick is a dispenser for viscous liquid substances, capable of carrying approximately one-half gram of cannabis oil extract. The Dab Stick can be used for consumption of cannabis oil extracts, but also has a range of other pharmaceutical and natural applications for use with products such as topicals, supplements and creams. The oil vessel is capable of dispensing oil in very small and precise metered doses, which ensures consistency between each dose and providing the desired consumer experience. The Company expects to commence commercial production of the Dab Stick product after completion of testing and receiving feedback from focus groups.
The Company has issued an aggregate of 416,667 common shares (“Common Shares”) as the first milestone payment pursuant to the agreement governing the acquisition of the Dab Stick intellectual property. Please see our press release dated January 30, 2017, for the full commercial terms upon which the Company has acquired the Dab Stick.
Of those shares, 104,167 Common Shares were issued to Maxx Financial Inc., a company controlled by Billy Morrison, a director and Vice President, Extractions, of the Company. As a non-arm’s length party, Mr. Morrison has abstained in approval of the acquisition.
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the marijuana-infused products industry, 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 and Instagram or visit www.nutritionalhigh.com.
For further information, please contact:
David Posner, Chairman of the BoardNutritional High International Inc.647-985-6727Email: email@example.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. 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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