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.
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, Instagram and Google+ or visit www.nutritionalhigh.com.
About Veterans Capital Corp.
Veterans Capital Corp. is a specialty finance company located in Florida, focused on providing quality financial and leasing services to all types of business clients. Veterans Capital provides a financial alternative to traditional bank financing with competitive cost effective leasing and commercial loan solutions. Veterans Capital and its investment partners nationwide understand the value of long term relationships, building loyalty and making a commitment to its valued customers. Veterans Capital provides lease lines of credit and growth capital for early stage and emerging growth companies both public and privately held. Veterans Capital has also acted as a facilitator for project finance, real estate and financed private movie film ventures both in the US and Europe.
For further information, please contact:
Co-Chairman of the Board
Nutritional High International Inc.