TORONTO, May perhaps 13, 2019 (GLOBE NEWSWIRE) — Nutritional Higher International Inc. (“Nutritional High” or the “Company”) (CSE: Consume, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to report acceleration and expansion in the Company’s California operations.
April 2019 was a record sales month for Calyx Brands Inc. (“Calyx”), Nutritional High’s wholly owned California-primarily based distributor. Calyx recorded month-to-month income in excess of US $1.85M (~CAD $two.5M), reflecting robust demand for core items driven by improvement of extra distribution capacity. In addition, estimated and unaudited gross margin rose to 15%, in line with management’s expectations. Calyx continues to expand its distribution network and now solutions far more than 500 licensed retail dispensary outlets in the State of California.
As disclosed in the press release dated April 1, 2019, for the 12 months ended January 31, 2018, Calyx reported income of about $17.two million with sales in the second half of the period rising by 96% to $11.four million from $five.eight million in the very first half of the period. More than the exact same period, gross margin improved by about 10%.
The Organization is also pleased to announce that it has received approval to modify the conditional use permit (“CUP”) attached to Nutritional High’s FLI Labs NorCal facility in Sacramento, California. Pending final regulatory approval, the modification will add yet another distribution hub to Calyx’s network and reinforce its position of leadership in the burgeoning Northern California cannabis marketplace. Upon receipt of the requisite creating permits, the Organization will commence create-out of the warehousing space, seek a certificate of occupancy and apply for an operating permit to launch distribution operations. After operational, the extra infrastructure will drastically boost the Company’s capability to influence retail shelf space in California through enhanced marketplace access, order fulfillment frequency and wider breadth of branded solution offerings.
“We keep our commitment to becoming 1 of the top companies and distributors of cannabis items in Western US,” commented Adam Szweras, Co-Chairman of Nutritional Higher. “We have verified out our method in California, exactly where we are the prime distributor of edibles, and will continue expanding our footprint in the state. We are moving ahead with core strategic concentrate on California and Nevada, though progressively executing our industrial development plans in other jurisdictions as nicely.”
Nutritional Higher and Tres Ojos Naturals LLC (“Tres Ojos”) mutually elected not to proceed with the previously announced acquisition (announced January 29, 2019). The Organization will even so continue to distribute SolDaze by way of its wholly-owned subsidiary, Calyx and incredibly significantly appears forward to a continued close connection with the SolDaze group.