Nutritional High Enters Canadian Cannabis Market With Partner Receiving Its Oil Extraction License
TORONTO, April 24, 2018 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High“) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce its joint venture partner Abba Medix Corp. (“Abba Medix“) has received its License to Produce Cannabis Oil from Health Canada under the Access to Cannabis for Medical Purposes Regulations (“ACMPR“). Nutritional High recently entered into a joint venture with Abba Medix (see press release dated October 17, 2017) to manufacture cannabis oil extracts and cannabis-infused products in Canada under the Company’s FLI brand once permitted by regulation. Abba Medix will commence cannabis cultivation at its Pickering, Ontario facility (“Pickering Facility“) on May 1st, 2018 and seek to begin producing FLI-branded cannabis oil extract products shortly thereafter.
As part of the joint venture of which it owns a 50% interest, the Company designed and is currently building out an approximate 2,000 square foot area of the 22,000 square foot Pickering Facility. Going forward, the Company will seek to build-out, staff and organize the operations of the facility to maximize production capacity. As part of its lease, Abba Medix is approved to expand its facility by an additional 27,500 square feet, for a total of 49,500 square feet, offering significant expansion potential going forward.
David Posner, Chairman and Director of Nutritional High, commented: “We commend Abba Medix on this significant milestone and look forward to further developing our relationship with them as they bring oil production capabilities online. The Canadian market is a significant aspect of our international strategy and this development will allow us to advance our strategic objectives in that market. Going forward, we will look to develop our operations in numerous other markets to establish an integrated, best-in-class producer of cannabis extracts and infused products.”