Nutritional High International Inc. Announces Closing of Oregon Property Financing
TORONTO, ONTARIO–(Marketwired – June 13, 2017) – Nutritional High International Inc. (the “Company” or “Nutritional High“) (CSE:EAT)(CSE:EAT.CN)(CNSX:EAT)(OTCQB:SPLIF)(FRANKFURT:2NU) is pleased to announce that it has closed the previously announced US$400,000 financing (the “Oregon Loan“) secured against its real estate property in La Pine, OR (“Oregon Property“) (see press release dated April 17, 2017).
The US$400,000 Oregon Loan advanced by the Veterans Capital Fund II, LP, is secured by the Oregon Property purchased by Nutritional High on March 27, 2017 (see press release dated March 27, 2017) and carries an interest rate of 13% per annum for a term of 18 months. In consideration of the Oregon Loan, the Company has issued Veterans Capital Fund II, LP 1,125,515 share purchase warrants, exercisable at a price of $0.165 for a period of two (2) years.
Jim Frazier, CEO of Nutritional High commented: “We are appreciative of the continued support of one of our key capital partners, Veterans Capital. Like with the Pueblo, Colorado property financing, this financing is for approximately the full purchase price of the property and allows us to leverage our real property assets to power growth. We look forward to completing our build-out and licencing process and our subsequent entry into the Oregon market.”