Future Dabbing Technology: Nutritional High Announces Successful Completion of “Dab Stick” Prototype
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.