They will receive a sales fee totaling 35% of gross sales, as well as a fee for each initial product assessment plus applicable expenses. The Company will receive 75% of the sales fee and Golden Triangle will receive 25%. As consideration for entering into the Agreement, Nutritional High has issued 1,050,000 common shares of the Company to Golden Triangle.
“We are proud to have attracted Golden Triangle as a key strategic partner to allow us to be a first mover in Asian focused products, and eventually in Asia,” commented Nutritional High CEO, Adam Szweras. “Golden Triangle is licensing successful products throughout Asia and this partnership allows us to leverage our extensive distribution network and robust manufacturing footprint for a brand-new emerging category with limited risk.”
The partnership between Golden Triangle and Nutritional High is a result of the collaborative efforts between the Company and Tom Kruesopon. Based in Thailand, Mr. Kruesopon is a political operator and businessman who played a major role in advocating for cannabis legalization in his home country. Cannabis was legalized for medical use in Thailand in December 2018.
“The cannabis industry in Thailand is still in its infancy but there are a plethora of opportunities in North America,” added Mr. Kruesopon. “Nutritional High is building a strong brand offering and combined with their existing infrastructure, is the perfect partner for Golden Triangle’s foray into North America. The reverse is true as well. As we see the cannabis industry mature in Thailand and the rest of Asia, Nutritional High will have a dedicated partner on the other side of the Pacific ready to expand into Asian markets as regulations permit.”
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
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