2019 looks to be another busy year for Nutritional High. The company is focusing on value-added brand acquisitions in various areas of the cannabis industry, such as extraction, production, sales, and distribution. Nutritional High already stands as a vertically integrated company in multiple states, with a rapidly growing geographical footprint.
In the start of Q1 2019, the company has reported a company record amount of cannabis sales, totaling $5.8 million. The figures, which were published in a press release at the end of last year, represent 39% growth over Q4 2018 and a whopping 244% increase over Q3 2018.
The company’s intense increase in cannabis sales revenue is indicative of rapidly shifting public and governmental opinions on the green plant. So far, legalization has spread across 33 U.S. states for medical use, with a further 10 states and Washington D.C. legalizing the plant for adults aged 21 and above.
Nutritional High also has its eyes beyond the boundaries of U.S. legal weed and is pursuing opportunities in Canada as well as internationally. Let’s take a look at which cannabis-friendly spots on the map the company’s business model has spread to, and what’s in store for the company in the foreseeable future.
Where are Nutritional High’s currently active projects based?
- Colorado: Known as the “Centennial State”, Nutritional High is operational with one of Colorado’s biggest and most automated oil extraction and infused edibles facilities. The facility is managed by a licensed CO producer named Palo Verde. NH is capitalizing on the value of the state’s cannabis industry – which is expected to pull in $1.94 billion by 2025 – by employing a third-party licensed producer to manufacture its flagship FLÏ™ products and distribute them statewide.
- California: With a population on-par with Canada, it’s not surprising that California is one of the biggest cannabis markets in the U.S. and worldwide. According to Statista, the “Golden State” could generate $6.59 billion by 2025. NH has gotten involved in California’s cannabis industry at the ground floor by acquiring Calyx Brands – a pioneer in distribution. Let’s not forget about NH’s potential opportunity regarding the Pasa Verde extraction facility. Read more about Pasa Verde’s recent update here.
- Nevada – The forecast looks good for Nevada, where the state could rake in $814 million by 2025. Currently, NH is in the process of acquiring 75% interest in a Las Vegas-based producer and processor named Green Therapeutics.
- Oregon – The company was proud to announce that it had closed an acquisition of a property in La Pine, OR. Currently, plans include the construction of a facility where cannabis concentrates and edibles can be produced. With a financial outlook estimated at $1.04 billion in Oregon by 2025, Nutritional High has made a lucrative long-term investment in Oregon’s budding cannabis market.
- Washington – We can’t forget about Washington. Recently, NH secured a deal to upgrade a Tier 2 cannabis producing and processing facility. A broad scope of NH products will now be sold inside these facilities, including an opportunity to manufacture the iconic Marley Brands. Last year, cannabis sales in WA state amounted to more than $534.06 million. A Statista forecast also predicts that cannabis sales in WA will top $1.76 billion by 2025.
- Canada – Last but not least, NH has announced a joint venture with Abba Medix. The cannabis producer is licensed under ACMPR and it boasts a facility in Pickering, ON. Health Canada just awarded Abba Medix with a license to produce oils. Plus, Statistics Canada reports that Canadians are spending in excess of $5 billion CAD on cannabis every single year. This figure is expected to swell as we embrace the Great White North’s first official year of legal weed. In order to take advantage of cannabis reform, NH has introduced its flagship FLÏ™ edibles and extracts product line, from the initial production stages all the way to the legal market, via its wholly owned subsidiaries in California and Canada. Opportunities and potential remain to be seen, as many in the market are awaiting regulations around edibles, beverages, and other innovative products in the market.
The Importance of Expansion in the Cannabis Industry
According to data published by Grand View Research, Inc., the legal global cannabis market could top $146.6. billion by the end of 2025. Since the nascent industry boasts such profit potential for smart “cannapreneurs,” it’s no wonder why Nutritional High and other major industry players are broadening their geographical footprints.
In the United States alone, legal cannabis sales are projected to take in billions of dollars for the economy every single year. This is true, regardless of the fact that cannabis has not yet gained federal approval.
Could 2019 be the year that cannabis is legalized at the federal level? Based on the recent Democratic-House flip, the chances of federal cannabis legalization are a lot higher this year than they were in 2018.
In the near future, NH plans to enter operationally into cannabis markets in Nevada, Washington State and Canada.
By collaborating exclusively with licensed facilities in jurisdictions whereby cannabis-related activity is allowed and regulated by state law, Nutritional High can effectively encourage law-abiding businesses to jump on board and consequently, prompt other states to follow suit.