Xanthic Biopharma (CSE:xTHC) and Nutritional High International Inc. (“Nutritional High”, CSE:EAT, OTCQB:SPLIF) are pleased to announce they have entered into a binding Letter of Intent (“LOI”) for the production and distribution of Xanthic branded water soluble cannabis-infused powders in California.
Nutritional High has built a comprehensive integrated organization in California delivering plant to dispensary continuity. Most recently, Nutritional High announced the acquisition of 100% of Pasa Verde, LLC (“Pasa Verde”), a leading cannabis extraction and toll processing facility in Sacramento, California. Previously, Nutritional High acquired a 100% interest in Calyx Brands Inc. (“Calyx”), a leading distributor of cannabis products throughout California.
Xanthic will partner with Nutritional High’s California subsidiaries Pasa Verde and Calyx to distribute Xanthic’s patent pending water soluble cannabis-infused powder products such as its Hydration, Energy, Rescue and Recovery drinks. According to BDS Analytics, the cannabis beverage market grew 23% between January and October 2017 across California, Colorado, Washington, and Oregon, and this robust growth trend is expected to persist in the near future.
Jim Frazier, CEO of Nutritional High, commented, “We are very pleased to announce our partnership with Xanthic and look forward to rolling out product offerings in California going forward. As a company, we strive to provide our targeted markets with high-quality, unique value-added products and we believe Xanthic’s portfolio fits within this mandate.”
Tim Moore, CEO of Xanthic, also commented, “The Xanthic team is thrilled to advance our strategic relationship with Nutritional High in California. By utilizing the Nutritional High’s vertically integrated network, Xanthic will be able to exploit the significant market opportunity represented by the state of California. This new agreement provides value to current and future shareholders by enabling Xanthic’s launch in an important recreational and medical cannabis market.”
About Nutritional High
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.
Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis, and cannabis-infused products which deliver consistent THC and/or CBD levels and improved bioavailability. Using a proprietary process, Xanthic allows its strategic partners to deliver superior cannabinoid solubility, improved bioavailability, accurate micro-dosing and greater consistency versus competitive infused products. Through its investment in Avitas CBD Water, Xanthic has access to non-cannabis derived CBD-infused products that qualify for distribution outside of the cannabis dispensary network and into mainstream retail. www.xanthicbio.com
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. There is no assurance that the Agreement with Avitas will successfully produce benefits for Xanthic. Although such forward-looking 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, except as required pursuant to applicable securities laws.