Nutritional High International Inc. ("
Nutritional
High" or the "
Company") (
CSE:
EAT, OTCQB: SPLIF) is pleased to announce that it has
entered into a five-year binding framework agreement (the
“
Agreement”) with Golden Triangle Health Company
Ltd. (“
Golden Triangle”) to manufacture and
distribute branded products in North America, effective
immediately. To begin, Golden Triangle clients will import products
to the US to be infused and packaged.
Golden Triangle is a Thailand-based health and
wellness company with a strong family of brands (the
“Clients”) including Smooth-E, P80 Natural
Essence, Siang Pure Oil, SLC Clinic and the Traditional Thai Herbal
Association. Golden Triangle is actively soliciting additional
brands from Asia to its portfolio specifically with the purpose of
manufacturing and distributing CBD and Cannabis infused products in
North America and once permitted, in Asia and Europe. Nutritional
High will be responsible for providing North American market
assessments for the Clients’ products, and for those products
selected will be responsible for infusion, packaging, marketing,
distribution and sales of those products in jurisdictions where
they are legal.
Products targeted for import already have a
strong following in Asia and will initially include: P80 Natural
Essence, an all-natural Longan juice clinically proven to improve
sleep and made using an exclusive manufacturing process; Siang Pure
Oil Red, a topical oil derived from 100% natural herbal ingredients
and designed to relieve various bodily discomforts such as aches
and insect bites; and Smooth-E Facial Cream, recommended by
dermatologists and pharmacists to diminish scars, heal chapped skin
and smooth away wrinkles. Nutritional High will also work closely
with SLC Clinic and the Traditional Thai Herbal Association to
bring additional brands and product lines to North America. SLC
Clinic is the leading provider of skin care solutions in Thailand
and the Traditional Thai Herbal Association has proprietary
formulations for an array of organic herbal products including
food, drinks, bath and body, cosmetics, and skin care.
As per the Agreement, the Company will receive a
sales fee totaling 35% of gross sales, as well as a fee for each
initial product assessment plus applicable expenses. The Company
will receive 75% of the sales fee and Golden Triangle will receive
25%. As consideration for entering into the Agreement, Nutritional
High has issued 1,050,000 common shares of the Company to Golden
Triangle.
“We are proud to have attracted Golden Triangle
as a key strategic partner to allow us to be a first mover in Asian
focused products, and eventually in Asia,” commented Nutritional
High CEO, Adam Szweras. “Golden Triangle is licensing successful
products throughout Asia and this partnership allows us to leverage
our extensive distribution network and robust manufacturing
footprint for a brand-new emerging category with limited risk.”
The partnership between Golden Triangle and
Nutritional High is a result of the collaborative efforts between
the Company and Tom Kruesopon. Based in Thailand, Mr. Kruesopon is
a political operator and businessman who played a major role in
advocating for cannabis legalization in his home country. Cannabis
was legalized for medical use in Thailand in December 2018.
“The cannabis industry in Thailand is still in
its infancy but there are a plethora of opportunities in North
America,” added Mr. Kruesopon. “Nutritional High is building a
strong brand offering and combined with their existing
infrastructure, is the perfect partner for Golden Triangle’s foray
into North America. The reverse is true as well. As we see the
cannabis industry mature in Thailand and the rest of Asia,
Nutritional High will have a dedicated partner on the other side of
the Pacific ready to expand into Asian markets as regulations
permit.”
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and
distributing products under recognized brands in the cannabis
products industry, with a specific focus on edibles and oil
extracts for medical and adult recreational use. The Company works
exclusively with licensed facilities in jurisdictions where such
activity is permitted and regulated by state law.
The Company follows a vertically integrated
model with a fully developed strategy for acquisitions in
extraction, production, sales, and distribution sectors of the
cannabis industry. Nutritional High has brought its flagship FLÏ™
edibles and extracts product line from production to market through
its wholly owned subsidiaries in California and Oregon, as well as
Colorado where its FLÏ™ products are manufactured by a third-party
licensed producer. In California, the Company distributes its
products and products manufactured by other leading producers
through its wholly owned distributor Calyx Brands Inc. and is
entering the Nevada, Washington State and Canadian markets in the
near future.
For updates on the Company's activities and
highlights of the Company's press releases and other media
coverage, please follow Nutritional High on Facebook, Twitter and
Instagram or visit www.nutritionalhigh.com.
For further information, please
contact:
David PosnerChairman of the
Board Nutritional High International Inc. 647-985-6727
Email: dposner@nutritionalhigh.com
Ethan KarayannopoulosDirector, Investor
Relations Nutritional High International Inc. 416-777-6175
Email: ethan@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC
MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE
REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
This news release may contain forward-looking
statements and information based on current expectations. These
statements should not be read as guarantees of future performance
or results. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements. The statements relate to potential
market expansion and the use of the proceeds of the Offering.
Risks that may have an impact on the ability for these events to be
achieved include completion of due diligence, negotiation of
definitive agreements and receipt of applicable approvals.
Although such statements are based on management's reasonable
assumptions, there can be no assurance that such assumptions will
prove to be correct. We assume no responsibility to update or
revise them to reflect new events or circumstances.
The Company's securities have not been
registered under the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act"), or applicable state
securities laws, and may not be offered or sold to, or for the
account or benefit of, persons in the United States or "U.S.
Persons", as such term is defined in Regulation S under the U.S.
Securities Act, absent registration or an applicable exemption from
such registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in the United States
or any jurisdiction in which such offer, solicitation or sale would
be unlawful.
Additionally, there are known and unknown risk
factors which could cause the Company's actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. All forward-looking
information herein is qualified in its entirety by this cautionary
statement, and the Company disclaims any obligation to revise or
update any such forward-looking information or to publicly announce
the result of any revisions to any of the forward-looking
information contained herein to reflect future results, events or
developments, except as required by law. Some of the risks and
other factors that could cause actual results to differ materially
from those expressed in forward-looking information expressed in
this press release include, but are not limited to: obtaining and
maintaining regulatory approvals including acquiring and renewing
U.S. state, local or other licenses, the uncertainty of existing
protection from U.S. federal or other prosecution, regulatory or
political change such as changes in applicable laws and
regulations, including U.S. state-law legalization, market and
general economic conditions of the cannabis sector or
otherwise.