SEATTLE, WA--(Marketwired - May 31, 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 (
Building Cannabis Facilities Nutritional High International entered into a letter of intent with Lakeside Minerals Inc. on February 22, 2017 to build medical and adult use cannabis cultivation facilities in Nevada and Colorado. The deal was designed to enable the company to focus its efforts on high-margin cannabis oils and extracts, while reducing the capital expenditures associated with its cultivation efforts to help preserve and grow long-term shareholder value.
Under the terms of the deal, the company will assign Lakeside its right to acquire a Provisional Marijuana Cultivation License issued by the Nevada Division of Public and Behavior Health in exchange for US$500,000, as well as establish a joint venture to purchase the Henderson Property that will then be leased at an agreed price per square foot. The company will also receive one million shares of stock in Lakeside with the rights to secure more.
The company will immediately benefit from reduced capital expenditures for its Nevada project, and reduced product distribution costs. Over the long-term, the partnership is expected to ensure a consistent and high quality supply of trim without the capital costs associated with growing the plant. This will enable the company to focus on high-margin oils and extracts rather than commoditized cultivation.
Making Significant Progress As for the Colorado portion of the Lakeside deal, Nutritional High recently announced that its Pueblo, Colorado operations were advancing at a solid pace. Since February, the Palo Verde team has been focused on advancing the production process in anticipation of radically scaling up the throughput while maintaining strong extraction yields. Palo Verde has already manufactured over 7,000 grams of cannabis oil distillate and approximately 3,000 FLI cartridges.
"We are very pleased with how the production ramp-up is progressing," said Nutritional High CEO Jim Frazier. "The team has come a long way since commencing commercial production in late February and we look forward to our FLI Branded products building a strong consumer market presence in Colorado and nationally as Nutritional High establishes facilities in other states."
Palo Verde has made tremendous progress in increasing THC content from the high 70% to batches over 90% with throughput that's estimated at 20 to 40 pounds of trim per day. The average wholesale price of the FLI cartridges has been $18.00 per 0.5g cartridge, which ranges depending on the final THC content of each product. The team has also hired sales representatives to help accelerate the market penetration of their FLI Branded products.
Palo Verde will be launching three new FLI Branded products over the next 90 days. They continue to R&D the next generation of innovative and unique products that will have significant impact in the marketplace.
Looking Ahead Nutritional High International Inc. has made tremendous progress in building out its facilities in Colorado while setting the stage for Nevada. In partnership with Lakeside Minerals, the company is uniquely positioned to generate near-term revenue while focusing its efforts on high-margin cannabis oils and extracts. The goal is to build a nationwide consumer brand that's known for quality.
In addition to Lakeside Minerals, the company has also made a strategic investment in Aura Health Corp., which operates clinics in Arizona and Nevada, and continues to seek out bolt-on acquisitions and partnership opportunities in Washington, California, Pennsylvania, Arizona, Maryland, Florida, and Michigan where favorable laws exist. The team is also keeping a close eye on states and countries that are coming up on the licensing front to tie down real estate and apply for licenses.
Please follow the link to read the full article: http://www.cannabisfn.com/nutritional-high-la...rtunities/
Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/become-featured-company/
Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id...?ls=1&mt=8
Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com
About CFN Media CFN Media (CannabisFN), the leading creative agency and media network dedicated to the worldwide cannabis industry, helps marijuana businesses attract investors, customers (B2B, B2C), capital, and publicity. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
The company launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
Disclaimer: Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/ .
CFN Media Frank Lane 206-369-7050 flane@cannabisfn.com
