SEATTLE, WA--(Marketwired - May 9, 2017) - CFN Media Group ("CFN Media", "CannabisFN"), the leading agency and digital media network dedicated to the North American cannabis industry, announces the publication of an article covering Nutritional High International Inc.'s (
Innovative Business Model
The U.S. cannabis industry is highly fragmented with several different value chain segments that have emerged over the years. Cannabis cultivators are focused on growing and harvesting cannabis plants; extraction facilities are focused on converting raw cannabis into oil extracts and cannabis-infused products; testing labs ensure product quality and purity; and, dispensaries sell these products to consumers at storefronts in approved medical or recreational states.
Nutritional High is focused on building a presence across the value chain while focusing on high-growth and high-margin edibles and oil extracts. Management's goal is to build a robust production and distribution platform for nationally-branded marijuana-infused products. These products include the Company's flagship FLï brand, exclusive license to certain products bearing the likeness of the legendary guitarist Jimi Hendrix, and innovative products like its Dab Stick for cannabis oil consumers.
The company has also developed a proprietary extraction and manufacturing process, which is based on the cold ethanol distillation that gives its business model some compelling economics. The process is able to turn up to 50 pounds of trim/shake per day into oil extracts, with an estimated 10% yield. It estimates that the high quality extract sells for $20-30 per gram on the wholesale market, which creates compelling profit margins, particularly for distillate oils that result from its process. In Colorado, it is estimated that Palo Verde can process around 100 lbs per week under the current configuration, which is being increased weekly by their staff.
Over the past three years, the company has made a string of acquisitions and strategic investments aimed at realizing this vision. Its geographic footprint includes its key four states of CO, IL, NV, and OR, along with planned expansion into several other states in the future, including California, Arizona, Washington State, Michigan, and Pennsylvania. Expansion into these states will position the company to capitalize on the burgeoning market and make it a leader in the space.
Growing Presence in Various States
Nutritional High has a growing presence in four different states with plans to expand into at least five additional states in the near future. This presence includes several different types of cannabis business across the value chain, including cultivation companies, extraction companies, and retail dispensaries.
Colorado
The company established one of the state's largest and most automated oil extraction facilities and secured licenses through agreements with Palo Verde LLC. With Phase I completed, the company's partner is finalizing the permitting process with technical personnel and local authorities to expand product offering to include edibles. The company aims to complete Phase II by mid-2017 with a cultivation facility in place by the end of the year according to its cultivation partner GroBright Corp (currently named Lakeside Minerals).
Illinois
The company was one of the 52 applicants to receive a medical marijuana dispensary license in the state with the only dispensary located in ISP District 12. With over 18,000 applicants for the state's medical cannabis program, total retail sales topped $36 million in 2016 and nearly $54 million since the program's inception in November 2015. The company is already seeing strong month-on-month growth with a 90% customer retention rate for its Clinic Effingham, which is 50% owned by Nutritional High. The balance 50% is owned by two prominent medical cannabis groups in Illinois, which own several licensed facilities.
Nevada
The company is in the process of acquiring and transferring provisional producer and processor licenses to a 17,500 square foot industrial building with approximately 15,500 square feet of warehouse space. In addition, the company partnered with GroBright to build a cannabis cultivation and extraction facility in Henderson, NV, where a portion of the building will be acquired by GroBright to build a cannabis cultivation facility.
Oregon
The company is in the final stages of local permitting for a recreational cannabis processing license after acquiring a property in La Pine, OR for $399,000. Management anticipates construction beginning in May 2017 with permits being secured for land use compatibility and the requisite local building permits.
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CFN Media Frank Lane 206-369-7050 flane@cannabisfn.com
