Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that it has secured an extension of the US$800,000 secured note of its Pueblo, Colorado property (the “Extension”) with Veterans Capital Fund, LLC (the “Lender”). The terms of the Extension are as follows:
- the Lender has agreed to extend the term an additional 12 months to April 18, 2019, with an option to extend for a further six months, subject to certain conditions;
- the Company will pay the Lender a one-time renewal fee of US$16,000;
- subject to regulatory approval, the expiry of the previously issued 3,333,334 warrants of the Company exercisable at C$0.06 per share will be extended to October 18, 2019, and the expiry of the previously issued 1,000,000 warrants exercisable at C$0.15 per share will be extended to October 18, 2019; and
- the Company will issue 750,000 warrants at an exercise price of C$0.70 per share, expiring on October 18, 2019.
Jim Frazier, CEO of Nutritional High, commented, “We are pleased that Veterans Capital has agreed to extend the secured note and look forward to continuing to execute on the roll out of our strategic plan in Colorado and our other targeted markets. Having access to this capital allows us the flexibility to pursue opportunities that can generate maximum value for our shareholders.”
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:
Chairman of the Board
Nutritional High International 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 the completing the proposed transaction, the expansion of the Green Therapeutics facility and the ability to increase supply of product. 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.