SEATTLE, WA--(Marketwired - Aug 31, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article covering Nutritional High International Inc.'s (
Retail Dispensary Investments Nutritional High's flagship dispensary is The Clinic Effingham , which is the only medical cannabis dispensary in ISP District 12 that is fully licensed by the State of Illinois under the Compassionate Use of Medical Cannabis Pilot Program Act. The clinic helps patients access medicinal cannabis, customize their treatment plan, manage dosing frequency, monitor progress, and ensure they are administering the proper medication to fit a patient's specific needs.
The Illinois Department of Health has approved applications for approximately 23,300 qualifying patients that have purchased more than $80 million worth of medical cannabis since the medical cannabis program began in September 2014. With just 53 approved dispensaries, The Clinic Effingham is well-positioned to capitalize on these growth rates as the annual revenue run rate looks to increase to nearly $100 million by next year.
In its third quarter update, the company announced that the clinic generated more than US$600,000 in revenue and a net loss of just over $70,000 since opening in September 2016. The dispensary's net loss is likely to transition to a net profit over the coming quarters as it benefits from an expanding patient population and growing demand. Investors will be able to see this growth on the company's balance sheet as an equity investment.
Nutritional High also owns a minority interest in Aura Health, which owns interests in medical cannabis clinics located in Las Vegas, NV, Mesa, AZ, and Tucson, AZ, along with the option to acquire an interest in seven additional clinics.
These partnerships could not only build value on the company's balance sheet over time, but also provide valuable distribution channels for its growing line of marijuana-infused products, most notably its FLÏ brand of vape cartridges and edibles.
Expanding Extracts Footprint to Nevada Nutritional High has continued to execute on its strategy of geographic expansion by laying the groundwork to roll out its products in Nevada. Nutritional High is working with a private investor group made up of US residents who will build out and launch operations in Nevada. The company is in the late stages of finalizing the partnership with the licensed entity as well as a joint venture with Lineage Grow Company Ltd. This unique partnership will enable Nutritional High to expand its footprint of nationally branded marijuana-infused products while sharing capital and operating costs with Lineage who will focus on the cultivation side.
Nevada's cannabis market is already receiving significant attention and is expected to dramatically expand after recreational legalization went into effect on July 1, 2017. In the following four days, Nevada dispensaries had already racked up $3 million in retail sales as consumers flocked to the state known for its vibrant tourism and entertainment industry. Marijuana analysts believe that revenue could reach an annual run rate of $30 million over the next six months given that more than 40 million tourists visit Las Vegas each year.
The company plans to establish its operations in a 17,500 square foot industrial building located 20 minutes from the Las Vegas Strip. Nutritional will develop a state-of-the-art extraction and marijuana infused products manufacturing facility using the same technologies that are already in place at its Pueblo, CO facility. A portion of the building will be acquired by Lineage, with a view of constructing a cannabis cultivation facility. The company is targeting a rapid rollout of its premium product offering as it seeks to establish a dominant position as the market leader in the state.
The Bottom Line Nutritional High International Inc. is well known for its premium line of cannabis-infused extracts through its FLÏ brand of premium oils and edibles. In addition to these products, the company continues to grow its retail dispensary presence through investments in Illinois, Arizona, and Nevada, while simultaneously expanding its extraction footprint in Nevada and Oregon.
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About CFN Media CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
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