Nutritional High (CSE:EAT, OTCQB:SPLIF, FWB:2NU) reports that effective February 1, 2019, the City of Sacramento Cannabis Policy & Enforcement (the “City”) has rescinded local authorization for cannabis manufacturing for Pasa Verde, LLC (“Pasa Verde”), a subsidiary of the Company. Without local authorization in place, the California Department of Public Health (the “State”) was required to revoke Pasa Verde’s state temporary manufacturing license. This does not in any way affect the licensing of the Company’s distribution operations under Calyx Brands (“Calyx”), the temporary-licensed cannabis distribution subsidiary of the Company and has minimal impact on Company operations.
Pasa Verde received approval for its building permits from the City on January 16, 2019 and the build-out of the FLI Labs NorCal facility will proceed as planned. Further, Calyx will continue distributing FLÏ products being produced by other licensed cannabis manufacturers in California.
Based upon discussions with the City regarding its decision, the Company is moving forward with the build-out and will apply for a new Business Operating Permit (“BOP”) under a new subsidiary of the Company. We anticipate the BOP being finalized before the completion of the build-out.
Jim Frazier, CEO of Nutritional High, commented, “While we had hoped to maintain the local authorization at FLI Labs NorCal and secure the BOP early on in the build-out period, this is a minor shift in our operations. We look forward to working with the City on a new BOP, completing the build-out and moving forward with fully compliant manufacturing, production and packaging operations at scale in Sacramento.”
About Nutritional High International Inc.
Nutritional High develops, manufactures and distributes cannabis extracts and edible products under recognized brands for medical and adult use, in accordance with state and local law.
Nutritional High has brought its flagship FLÏ edibles and extracts product line from production to market through its wholly-owned subsidiaries in California and Oregon, and in Colorado through a third-party licensed producer. In California, the Company distributes its products and products manufactured by other leading producers through its wholly-owned distributor Calyx Brands and is entering the Nevada, Washington State and Canadian markets in the near future.
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Co-Chairman of the Board
Nutritional High International Inc.
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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. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.
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