Nutritional High Subsidiary Pasa Verde Labs Receives Extension of Temporary Manufacturing License
TORONTO, May 04, 2018 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that its prospective subsidiary Pasa Verde, LLC (“Pasa Verde”) has received an extension on its Cannabis Manufacturing License (the “License”) by the California Department of Public Health (the “Department”). Pasa Verde’s application for an Annual Cannabis Manufacturing License is currently under review by the Department and the Company expects it to be accepted in the near future. The Company executed an LOI to acquire 100% of Pasa Verde in April 2018 (see press release dated April 23, 2018) and the transaction is expected to be closed imminently. Pasa Verde was founded in 2017 and operates a leading cannabis extraction and toll processing facility in Sacramento, California.
Jim Frazier, CEO of Nutritional High, commented “We are pleased to announce the extension of Pasa Verde’s temporary manufacturing license and we look forward to them receiving their permanent license in the near future. The Pasa Verde acquisition will help us to build a strong foothold for our branded products in the strategic California market and we are excited to integrate the assets into our portfolio.”