Nutritional High Provides an Update on Palo Verde License Renewal Process
TORONTO, Dec. 09, 2017 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) wishes to provide an update on the licensing status of Palo Verde LLC (“Palo Verde”), the tenant at the Company’s Pueblo, Colorado facility. Palo Verde manufactures FLI-branded vape cartridges within the state of Colorado.
Palo Verde is licensed by the State of Colorado as a retail marijuana infused products manufacturer (“Retail MIPs”). Palo Verde has recently been advised that the renewal application for its Retail MIPs license received a notice of denial (“NOD”) from Colorado’s Marijuana Enforcement Division (“MED”). According to the administrative provisions of Colorado Retail Code (“Retail Code”), Palo Verde will be able to continue its operation within its current licensed premises pending an administrative process to determine if the Retail MIPs license renewal was properly denied by the MED.
In addition to the Retail MIPs license renewal, Palo Verde had also applied for a retail cultivation license and a medical marijuana infused products license, both of which were also denied. Among other grounds for the NOD, the MED alleges that Nutritional High has an undisclosed financial interest in Palo Verde, which Nutritional High denies. All financial relationships between Palo Verde and Nutritional High have been disclosed to the MED.
“We will provide Palo Verde with whatever support they need to demonstrate to the MED the true nature of our relationship,” explained Nutritional High CEO Jim Frazier. “We anticipate that Palo Verde will be permitted to continue operations for the foreseeable future while addressing this matter with the MED.”
While Nutritional High intends on continuing to provide FLI-branded packaging to Palo Verde, it will seek relationships with other licensed Colorado marijuana establishments to manufacture and distribute its brands in a manner that is fully transparent and compliant with the Retail Code. Nutritional High is also aggressively accelerating its expansion efforts in other states to enhance the footprint of its flagship FLI brand in jurisdictions that permit legal cannabis products.