ORONTO, April 12, 2018 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High“) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to provide a strategic update on its acquisition of Green Therapeutics LLC (“Green Therapeutics“) (please see press release dated March 13, 2018). The Company also announces that is has accepted the resignation of Chief Operating Officer (COO) Robert Keeler, effective immediately.
Update on Green Therapeutics
Nutritional High is pleased to announce the recent visit of Green Therapeutics’ CEO Duke Fu to the Company’s industrial facility in Pueblo, Colorado (“Pueblo Facility“), which is leased to Palo Verde LLC, a tenant licensed to manufacture marijuana-infused products. This visit marks the starting point of a relationship between the parties that is expected to garner significant levels of shared expertise in operations, IP, and branding cross-development. Upon integration of the acquisition the Company will commence sales of FLI-branded products in the State of Nevada through Green Therapeutics’ existing distribution channels, which will be manufactured by Green Therapeutics at its existing facility in Las Vegas, using the Company’s manufacturing processes. The Company also anticipates developing the distribution relationships with the Company’s licensed tenants and business counterparts in the States of California, Colorado, Washington, Illinois and Oregon, to allow Green Therapeutics to sell its branded products in those markets through the licensed channels, where permitted by regulation. Green Therapeutics currently offers a range of products including ultra-premium flower, extracts, vaporizer cartridges and topical products under its “Provisions”, “GT Flowers” and “Tsunami” brand names.
Green Therapeutics CEO Duke Fu, commented: “I was very pleased by the operational efficiencies and shared vision I observed through my visit to the Pueblo facility. These factors bode extremely well for the future of the consolidated company and I am proud to be joining the team. As we move towards closing the acquisition, we look forward to increasing the footprint of our products in other states, where these products are permitted by regulations.”
Jim Frazier, CEO of Nutritional High added: “We look forward to working with Duke Fu and his team in an effort to introduce our products in the State of Nevada, which will be a key market as we continue to secure a foothold for our FLI-branded products across the country. The arrangement with Green Therapeutics is one of the examples of how we implement our cross-branding strategies to gain market share in various markets. As we continue to gain scale through organic growth and acquisitions, we believe it is important to develop and execute marketing initiatives that place brands at the forefront of our corporate strategy.”
Resignation of Robert Keeler
The Company recently accepted the resignation of Robert Keeler from his position of COO. The change is effective immediately, and CEO Jim Frazier will assume Mr. Keeler’s role temporarily while a search is conducted to replace him. The Company thanks Mr. Keeler for his contributions as COO and wishes him success in his future endeavours. Mr. Keeler has been with Nutritional High since June 2016 and has previously served as a director of the Company, during an important stage of its development.
“Robert has helped lay important ground work for Nutritional High and was instrumental in achieving several significant milestones. We thank Robert for his contributions and wish him the best of success in his future ventures.”, added Jim Frazier, CEO of Nutritional High.