TORONTO, Oct. 30, 2017 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High“) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that is has entered into an agreement to lease a real estate property in Bellingham, Washington (“Bellingham Location”) where the Company has partnered with Mt. Baker Greeneries, LLC (“Mt. Baker Greeneries”) to penetrate the Washington medical and adult-use cannabis market.
Washington State: Strategic Partnership
Nutritional High has entered into a lease agreement with an option to purchase a 7,800 square foot industrial building located in Bellingham, Washington (“Bellingham Location”). The Bellingham Location is located in a fully serviced industrial area and has excellent space and infrastructure to house a significant integrated grow/extraction/marijuana-infused products (“MIPs”) operation. The facility has fully built-out cultivation rooms and a commercial MIPs kitchen. While additional equipment will be purchased in order to employ Nutritional High’s technologically unique production process, a capital-intensive build-out is not required to commence production. The lease has a three-year term, during which 50% of the lease payments are credited towards the purchase price of US$1.2 million.
The property houses a cannabis cultivation and extraction operation and is currently occupied by Mt. Baker Greeneries, which holds a Tier 2 Licensed Producer Processor issued by the Washington State Liquor and Cannabis Board. Nutritional High and Mt. Baker Greeneries have also entered into agreements whereby Nutritional High will sublease the facility to Mt. Baker Greeneries and provide its intellectual property, including recipes, branding, packaging, and other know-how to Mt. Baker Greeneries. Over the next 6 months, the Company expects to have Mt. Baker Greeneries commence production of FLI branded products using the Company’s state-of-the-art extraction and infusion techniques and assist Mt. Baker Greeneries to use its cannabis cultivation operation to produce and sell FLI branded live resin.
Jim Frazier, CEO of Nutritional High commented – “We’re excited to announce this key milestone in Nutritional High’s expansion strategy, further establishing our presence in the Pacific Northwest. Washington is the 3rd largest cannabis market in the U.S. and has a thriving consumer base for concentrates and edibles products. Through this strategic relationship, Nutritional High has aligned itself with an established producer/processor and positioned the company to effectively penetrate the Washington market.”