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Nutritional High Announces Completion of Its Effingham Dispensary and Open House on August 15
Aug 09, 2016
OTC Disclosure & News Service
Nutritional High Announces Completion of Its Effingham Dispensary and Open House on August 15
TORONTO, ONTARIO--(Marketwired - Aug. 9, 2016) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT)(OTCQB:SPLIF)(FRANKFURT:2NU), along with its joint venture partners, are pleased to announce that construction of its medical marijuana dispensary in Effingham, IL, has been completed and the dispensary is substantially ready to open its door to patients, upon fulfilling the final pre-requisites required by Illinois Department of Financial and Professional Regulation ("IDFPR").
The pictures of the newly renovated facility, which will operate under the name "The Clinic Effingham" ("TCE"), have been posted on the Company's social media pages at www.facebook.com/Nutritional-High-255291184657443/ and www.facebook.com/TheClinicEffingham.
In anticipation of commencing operations, The Clinic Effingham will be holding an open house on August 15, 2016 from 3 to 6 p.m. at its location at 1009 Ford Avenue, Effingham, IL. During the open house, The Clinic Effingham will hold a ribbon-cutting ceremony, offer the public an opportunity to tour our state of art dispensary and meet our clinic staff, hold a free patient certification seminar and provide more information about the medical cannabis program.
The management team has worked hard to cultivate a good relationship with the community and the city to promote safe and responsible use of cannabis for those suffering from debilitating medical conditions and looks forward to having the opportunity to open its doors to its neighbors in Effingham and throughout District 12.
Nutritional High CEO Jim Frazier commented, "We are very excited to announce this key milestone in the Company's business and look forward to being rolling out our business in the State of Illinois. We are thankful to both our local joint venture partners, and local authorities for their warm welcome and appreciate the trust they have placed in our Company."
The grand opening launch date for The Clinic Effingham will be announced upon securing licensing approval of the Company's wholly owned subsidiary, NH Medicinal Dispensaries Inc. ("NHMD"), by the Illinois Department of Financial & Professional Regulation.
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the hemp and marijuana-infused products industries, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
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, Instagram and Google+.
About The Clinic Effingham
The Clinic Effingham represents a partnership between Ataraxia, GTI and Nutritional High. This partnership includes leading Illinois dispensary and cultivation operators with a track record of successfully serving patients and positively impacting the communities in which they operate.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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 statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
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.
Nutritional High International Inc.
Jim Frazier
CEO
321-516-7171
jfrazier@nutritionalhigh.com
Transcend Capital Inc.
Etienne Moshevich
Investor Relations
604-681-0084
et@transcendcapitalinc.com
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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The Company has also announced the following developments in Illinois, which include:
- Entered into joint-venture agreement ("JV Agreement") with an Illinois investor group with ties to the medical marijuana industry to build and operate the Company’s planned dispensary in, Illinois; - Been granted conditional approval ("Conditional Approval") by the Illinois Department of Financial and Professional Regulation (“IDFPR”) to establish the Dispensary;
NUTRITIONAL HIGH INTERNATIONAL INC. Management's Discussion and Analysis of Financial Condition and Results of Operations For the three and nine month periods ended April 30, 2016
- Commenced renovations at the Dispensary property; and - Entered into an agreement with an Illinois cannabis cultivation and extraction facility to develop a framework under which the extraction facility will manufacture and distribute Nutritional High’s oils and edibles in Illinois.
Under the terms of the JV Agreement the Illinois investor group will fund up to USD $300,000 of the expenses and working capital required to complete and launch the Dispensary. In addition, this investor group has provided the Company with a guarantee for half the Seller Take-Back Mortgage. In exchange for its contribution, the investor group shall receive a 50% interest in NHMD, the Company's wholly owned subsidiary which holds the Conditional Approval for the Dispensary, and a 50% interest in SMHI, the Company's wholly owned subsidiary which holds the Company's interest in the real estate property located in Lawrenceville, IL.
The investor group has already made initial advances to fund the Dispensary renovations and the Lawrenceville Property mortgage payments. The joint venture is subject to the approval of the IDFPR and the entry into a shareholders agreement. Furthermore, it is contemplated that the investor group will contribute to the management of the Dispensary and its relationships in the surrounding community will help accelerate the growth and development of the Dispensary. In addition, NHMD has been advised by the IDFPR that it has been awarded Conditional Approval to register the Dispensary under the Compassionate Use of Medical Cannabis Pilot Program Act (Illinois) ("CUMCPPA"). The Conditional Approval sets out the requirements that NHMD must fulfill prior to IDFPR approving the registration of the dispensary, which includes completing the renovations and passing the final inspection to the satisfaction of IDFPR. Upon meeting IDFRP’s conditions, it is expected that NHMD will be granted a final license to operate the Lawrenceville Dispensary.
