TORONTO, Nov. 06, 2018 (GLOBE NEWSWIRE) — Nutritional High International Inc. (“Nutritional High” or the “Company”) (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to announce that it has completed a sale and leaseback financing of certain equipment located at its FLI NorCal facility, located in Sacramento, California, and has leased other equipment to be delivered in short order (altogether, the “Equipment”) for gross proceeds of $741,127 USD. The sale and leaseback financing was provided by the Veterans Capital Corp. and ASC Lease Income, LLC (collectively, the “Buyer”).
Pursuant to the agreement with the Buyer, the Company will utilize the Equipment to process a wide and expanding range of products under its FLÏ brand including Vape Pens, Syringes, Dab Jars and Mini Mints. Nutritional High distributes these products in the California market through the Company’s wholly owned Calyx Brands distributor. In addition, the Company expects to launch its FLÏ Chocolate Bars production in three weeks upon the delivery of new equipment.
Located in the city of Sacramento, California, the FLI NorCal facility totals 17,500 square feet of manufacturing space permitted for the manufacture of cannabis extracts and infused products. With the goal to rapidly increase market share in the western US, particularly in California, the Company is in negotiations with various popular brands that would help strengthen Nutritional High’s position in California and continues to push its vision of being an industry leader in cannabis infused edibles and oils.