Nutritional High Sells Membership Interest of Illinois Dispensary to Green Thumb Industries and Ataraxia, LLC
TORONTO, Oct. 22, 2018 (GLOBE NEWSWIRE) — Nutritional High International Inc. (the “Company” or “Nutritional High“) (CSE: EAT, OTCQB: SPLIF, FRANKFURT:2NU) is pleased to announce its wholly-owned subsidiary NH Medicinal Holdings, LLC (the “Seller”) has entered into a definitive agreement on October 19, 2018, to sell (the “Agreement“) its fifty percent (50%) membership interest (the “Membership Interest”) of Illinois-based NH Medicinal Dispensaries, LLC to ILDISP LLC, GTI-Clinic Illinois Holdings, LLC (a subsidiary of Green Thumb Industries Inc. (“GTI”)) and Ataraxia, LLC, (collectively, the “Buyers”).
In connection with the Agreement, the Buyers will acquire one hundred percent (100%) of the Sellers Membership Interest in NH Medicinal Dispensaries on closing for an aggregate purchase price of USD$3,500,000 in cash.
“The Effingham dispensary has been a great asset for us. We won the license in a competitive process and brought in great partners in GTI and Ataraxia,” commented Nutritional High’s Chief Executive Officer Jim Frazier. “With our focus on California, Nevada and the US West Coast, the Southern Illinois dispensary was no longer core to our business and we are pleased to have been able to sell it at a significant gain.”