Nutritional High Sells Membership Interest of Illinois Dispensary to Green Thumb Industries and Ataraxia, LLC
Nutritional High (CSE:EAT, OTCQB:SPLIF, FWB:2NU) (the “Company” or “Nutritional High”) 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.”
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 Green Thumb Industries Inc.
Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which it serves. As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE dispensaries. Headquartered in Chicago, Illinois, GTI has eight manufacturing facilities and licenses for 59 retail locations across eight highly regulated U.S. markets. Established in 2014, GTI employs approximately 400 people and serves hundreds of thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business. For more information visit GTIgrows.com.
About Ataraxia Labs
Ataraxia Labs is a vertically-integrated operator of licensed cannabis cultivation, manufacturing and production facilities dedicated to improving lives by providing safe access to effective organic cannabis products that enhance health and wellness and by positively impacting the communities it serves. Ataraxia develops and produces a well-rounded suite of limited edition, fashion-forward cannabis products, which offer superior medicinal therapies and inspirational product options. Ataraxia distributes cannabis concentrates, edibles, extracts, flower and topicals under its trusted premium brands: GoldLeaf, Menta, Avexia and verano.
For further information regarding Nutritional High International Inc., please contact:
Co-Chairman of the Board
Nutritional High International Inc.
For further information regarding Green Thumb Industries Inc., please contact:
VP, Investor Relations, Corporate Development
Green Thumb Industries Inc.
VP, Corporate Communications
Green Thumb Industries Inc.
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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.