Vertical Peak Holdings Inc (SPLIF)

[NYOptionsGuy]

Nutritional High Obtains Equipment Lease Funding Commitment

TORONTO, July 13, 2018 -- /D.M.O. Newswire/ -- Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTC:SPLIF) (FRANKFURT:2NU) is pleased to announce that it has received a US$2,000,000 conditional lease commitment (“Lease Line of Credit”) for the funding of new extraction and lab processing equipment from Veterans Capital Corp. or its assignee (the "Lender"). The terms are as follows:



the Lease Line of Credit will have a 3-year term with fixed monthly lease rental payments based on a monthly lease rate factor of 3.3694% of the capital cost;

funding under the proposed Lease Line of Credit will be in increments of US$500,000 or as per each lease schedule;

the Company has the option to extend the lease term for a minimum of 12 months at renewal;

the Lease Line of Credit provides for a buyout option, whereby the Company has an option to purchase all the equipment under the Lease Line of Credit for fair market value, which shall not exceed of 14% of the capital cost;

the Lease Line of Credit will be secured by various new extraction and lab processing equipment, attachments, parts and warranties.

the Company will issue 1,000,000 warrants at an exercise price of C$0.70 per share, expiring 3 years from the date of closing. 25% of the total warrants shall vest upon execution of the Lease Line of Credit agreement and the remaining 75% will vest on a pro-rata basis as the Lender funds the lease schedules.

the Company will pay the Lender certain other fees based on amount funded under the lease schedule.

FULL RELEASE: https://www.dailymarijuanaobserver.com/single-post/2018/07/13/EAT-SPLIF-Nutritional-High-Obtains-Equipment-Lease-Funding-Commitment