Nutritional High (CSE:EAT) has announced it has closed an acquisition of a real estate property in The City of La Pine in Deschutes County, Oregon.
As quoted in the press release:
The Company is in the advanced stages of an application process to manufacture cannabis concentrates and edibles with Oregon Liquor Control Commission (“OLCC“) in relation to the property.
Jim Frazier, CEO of Nutritional High commented – “We’re excited to announce this key milestone in Nutritional High’s expansion strategy, establishing our presence in Pacific Northwest. In our view, the State of Oregon has one of the most robust cannabis regulation and we are excited to be a part of this growing market. The move to establish operations from the ground-up and receive a Processor License is consistent with our growth strategy to secure a national foothold by replicating the Colorado model in other states that regulated cannabis for adult and medical use.”
Oregon Licensing Update and Construction Timeline
Nutritional High has contracted to purchase the property in late 2015, soon after the State of Oregon published the licensing rules for cannabis companies and applied for land use compatibility survey (“LUCS“) with the City of La Pine, which was granted in April 2016. The LUCS permits the Company to manufacture concentrate and topical products at its location in La Pine.
Since then, the Company has been working with state and local regulatory authorities to obtain the necessary permits to receive the Recreational Processor License from Oregon Liquor Control Commission (“OLCC“).