TORONTO, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Nutritional High International Inc. ("Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) and Canada House Wellness Group Inc.’s ("Canada House") (CSE:CHV) wholly owned subsidiary Abba Medix Corp. (“Abba”) (collectively the “Companies”) are pleased to announce that the Companies have entered into a definitive agreement in connection with the previously announced Joint Venture (“Joint Venture”) to manufacture cannabis oil extracts and cannabis-infused products in Canada under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") (see press release dated October 18, 2017).
The Joint Venture is structured as a 50/50 partnership and will see Nutritional High and Abba build-out a production facility at Abba's Pickering facility to house a cannabis oil extraction operation focused on producing the oils and extracts currently permitted under ACMPR.
Nutritional High is working closely with Abba to secure a supplemental license from Health Canada for the production of medical cannabis oils. The Companies are looking forward to completing the facility build-out and servicing the Canadian medical cannabis market with alternative, more convenient and dose-controlled consumption methods. Once the appropriate regulatory frameworks are established, the Joint Venture will seek to service the Canadian recreational market as well.
Larry Bortles, Chairman of Canada House, commented: “This partnership provides our company with a platform to become one of the leading cannabis extracts companies in Canada and opens up opportunities to tap the global market for cannabis extracts.”
Jim Frazier, CEO of Nutritional High commented: “We are excited to be moving forward with the Joint Venture and look forward to working closely with Abba to replicate the operating model we’ve successfully deployed in the U.S.”
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing premium and consistently dosed products in the cannabis-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
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.
For further information, please contact:
David Posner, Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com
About Canada House Wellness Group Inc.
Canada House is the parent company of Marijuana for Trauma Inc., Knalysis Technologies and Abba Medix Corp. The Company's goal is to become a marketplace leader through strategic partnerships, mergers, and acquisitions to create a fully integrated cannabis therapy company. For more information please visit http://www.canadahouse.ca or www.sedar.com.
For further information, please contact:
Boom Capital Markets
Steve Low
647-620-5101
steve@boomcapitalmarkets.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. Such statements include statements regarding potential benefits to each of the parties of the joint venture arrangement. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. Neither Nutritional High nor Canada House assume any responsibility to update or revise them to reflect new events or circumstances except as required by law.
Neither Nutritional High’s nor Canada House’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 Nutritional High’s nor Canada House’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 Nutritional High and Canada House each disclaim 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.