NUTRITIONAL HIGH RECEIVES CONDITIONAL COLORADO REGULATORY APPROVAL FOR THE ACQUISITION OF PALO VERDE
Toronto, Ontario – January 28, 2021 – Nutritional High International Inc. (“Nutritional High” or
the “Company”) (CSE: EAT) is pleased to announce that the Colorado Marijuana Enforcement
(“Division MED”) has provided its conditional approval for the Company to acquire ownership of Palo Verde LLC
(“Palo Verde”). Palo Verde is a Colorado based processor and manufacturer of cannabis vape and edible
products including vape cartridges, all-in-one vapes, syringes, chocolate edibles and infused pre rolls, for
the recreational and medical markets. These products are sold by Palo Verde under the Company’s award
winning FLÏTM brand. In addition, the Company owns the building and equipment which has been leased
to Palo Verde since 2014.
This approval from the MED is conditional on approvals from Pueblo County, expected during the month
of March, 2021, after which, the Company intends to complete the acquisition of Palo Verde in accordance
with the Company’s press release of May 19th 2020.
“We are very pleased to be one of the few publicly traded cannabis companies which has been approved
for ownership of a cannabis license in Colorado,” said John Durfy, the CEO of Nutritional High. “The
acquisition of Palo Verde will represent an important milestone in the implementation of our branded
manufacturing strategy and will allow us to directly enter one of the most important cannabis markets in
the United States.”
In accordance with recent legislative and regulatory changes in the State of Colorado, publicly traded
companies are now able to directly own licensed cannabis businesses in the State subject to the approval of
the MED and local licensing authorities. On May 15, 2020, an agreement of purchase and sale was signed
between Nutritional High and the owner of Palo Verde, and an application to approve the change of
ownership was submitted to the MED for approval.
In accordance with the purchase agreement, Nutritional High will acquire 100% of Palo Verde for nominal
consideration and assumption of third-party debt. There is no finder’s fee associated with this transaction.
Further details regarding the acquisition will be provided at closing.
About Nutritional High International Inc.
Nutritional High is focused on developing and manufacturing branded products in the cannabis industry,
with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works
exclusively in jurisdictions where such activity is permitted and regulated by state law.
The Company has a strategy for acquisitions in extraction, production and sales sectors of the cannabis
industry. Nutritional High has brought its flagship FLÏTM edibles and vape product lines from production
to market in various markets including Colorado where its FLÏTM products are manufactured by independent
licensed producer Palo Verde, LLC.
For updates on the Company’s activities and highlights of the Company’s press releases and other media
coverage, please follow Nutritional High on Facebook, Twitter and Instagram or visit
For further information, please contact:
Chief Financial Officer
Nutritional High International Inc.
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This news release may contain forward-looking statements and information based on current expectations. These statements should
not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements to be materially different from those implied by such
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assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”),
or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States
or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable
exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale
would be unlawful.
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.