Nutritional High provides an update on its investee company Aura Health Corp.
C.EAT | 20 hours ago
TORONTO, ONTARIO--(Marketwired - April 6, 2017) - Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (CSE:EAT.CN) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce an update pertaining to the business developments of Aura Health Corp. ("AHC"). As announced in the Company's press release dated December 28, 2016, Nutritional High owns approximately 24% of AHC and has provided a short-term loan in the amount of US $120,000.
Business Strategy and Expansion Plan Update
AHC's business plan is focused on investing in medical marijuana patient clinics in the United States, where permitted by applicable regulation. At this time, the primary focus are Cole Memo compliant US states, however, in the future AHC may also expand into Canada and other countries where medical cannabis is permitted by regulation.
In addition to the current projects in the States of Nevada and Arizona, AHC also intends to pursue expansion opportunities in the State of Florida, which has legalized cannabis for medical use on November 9, 2016, by passing Amendment 2 ballot measure.
AHC currently has an agreement with Sun Valley Clinics, which provides AHC an option to acquire 51% ownership in up to 10 clinics. AHC has commenced discussions with Sun Valley to expand the scope of the agreement to increase the number of clinics to co-invest into with Sun Valley.
State of Nevada
The first project that AHC has undertaken was the clinic investment in Las Vegas, NV. AHC is pleased with the ramp-up being on budget as in the past two months with weekly patient volume exceeding break even a number of times suggesting the clinic is ramping up as expected.
Despite the passage of Question 2 last November, which has legalized cannabis for adult recreational use in the State of Nevada, experience in other recreational states show that the patients recognize the considerable benefits of participating in the medical program. Such benefits include a wider range of products with more varying THC and CBD contents at a lower cost per unit and lower retail taxes. In addition, the implementation of Question 2 could take a year or longer, and AHC expects the Nevada clinic to continue growing.
State of Arizona
To date, AHC has completed an acquisition of 30% interest in two clinics in the state of Arizona - one in Mesa and one in Tucson. The location of the clinic in Mesa is on one busiest intersections in city, with 50,000 cars per day passing in two directions that can see Sun Valley external signage. The Tucson location was previously a dental clinic, which was closed due to owner's retirement who stated this was his highest volume clinic of three that he owned in the city.
The build-out of both clinics is nearing completion with both expected to open in April 2017. AHC's operating partners have also began pre-marketing and retaining key staff and doctors for both clinics, as well as developing referral partnerships with dispensaries throughout the state.
AHC has appointed MNP LLP as its auditor, which is nearing completion of it's the financial statement audit for the year ended December 31, 2016. AHC has also appointed Branson Corporate Services Inc. to provide accounting and CFO support.
About Aura Health Corp. and Green Global Properties Inc.
Since June 2016, AHC and its subsidiaries has been involved in the development and acquisition of marijuana health clinics in the United States. The medical health clinics test prospective patients, and where such patients are found to have one of the qualifying medical conditions, the clinics issue medical-use certificates.
AHC owns 30% interest in a clinic in Las Vegas, NV and a 30% interest in a clinic being launched in Mesa, AZ. AHC also has the option to increase its ownership interest in these clinics to 51% and to acquire up to 51% interest in 8 additional clinics being launched by Sun Valley Holdings ("Sun Valley"), a private company based in Phoenix, Arizona, which also operates three wholly owned clinics in Arizona and is the largest clinic owner and operator in the state of Arizona.
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+ or visitwww.nutritionalhigh.com.
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.
David Posner, Chairman of the Board
Nutritional High International Inc.
Greg Shafransky, Investor Relations
360 Aviation Services Inc.
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