Nutritional High International : Bolsters Its California Brand Portfolio With LOI to Acquire Leading California Edibles Company
TORONTO – Nutritional High International Inc. (the ‘Company’ or ‘Nutritional High’) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce their entry into a Letter of Intent (‘LOI’) to acquire a 51% interest in Bright Green Lights LLC, a California company d/b/a as J:MEDS (‘J:MEDS’).
J:MEDS produces high quality cannabis-infused strain specific lozenges and sugar-free mints distributed across California. The Company believes that the Company’s subsidiary Calyx Brands, Inc. (‘Calyx’) can significantly ramp up sales of J:MEDS products. Having commenced operations in 2005, J:MEDS is a pioneer of ‘microdosed’ infused products and is one of California’s longest operating and most respected edible companies.
Jeffrey Kolsky, Founder and Director of J:MEDS, was awarded a patent in 2014 for Medical cannabis lozenges and compositions thereof (US 2016/0158298 A1), which patent will be transferred to J:MEDS. The patent is for ‘a method for optimizing the therapeutic effects provided by CBD on the one hand, and the psychotropic effects provided by THC on the other hand, in a sublingual medicament.’ The patent specifically notes the method to obtain ‘a concentrated extract of cannabis in which the concentration of CBD is known and the concentration of THC is known … wherein the amount of CBD is as high as possible and where the amount of THC is precisely controlled, forming lozenges, and administering the medicament.’ Jim Frazier, CEO of Nutritional High, commented, ‘We are very pleased to be acquiring J:MEDS, bringing another dynamic California brand into our product portfolio. We see significant synergies in this transaction, as J:MEDS offers high quality products and faces a capacity gap to meet current and future demand, which we will be able to bridge and scale up significantly. Going forward we will continue to seek to acquire high quality assets and further implement our California strategy to create additional value for our shareholders.’