Nutritional High International Inc. (the “Company” or “Nutritional High”) (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to provide an update on its subsidiary Calyx Brands, Inc. (“Calyx”). Calyx is a leading distributor of cannabis products throughout California and the Company closed its acquisition of Calyx in March of 2018 (see press release dated March 16, 2018). The Company would also like to announce the granting of stock options to several members of the board and key consultants.
Calyx Experiences Record-Breaking Month of April
The Company is very pleased to report Calyx booked record-breaking revenues in excess of USD$1 million in April, eclipsing its previous monthly record. Calyx is currently rolling out its California-wide distribution strategy and will look to continue to build on the momentum it has generated so far.
Dakota Sullivan, CEO of Calyx, commented, “We are very proud of our progress so far and are looking forward to continuing to develop our distribution business in California. Going forward, we will continue to leverage Nutritional High’s significant experience to drive value for our customers and Nutritional High shareholders.”
Jim Frazier, CEO of Nutritional High, added, “We are very excited to share these developments with our shareholders and look forward to sharing future updates as we continue to execute on our corporate strategy in California.”
Issuance of Stock Options
The Company would also like to announce the Board of Directors (the “Board”) has approved the issuance of an aggregate of 3,700,000 stock options (“Stock Options”) to members of the board and key consultants (“Consultants”). The Stock Options were granted on May 8th, 2018 and are exercisable into Common Shares at a price of $0.36 per Common Share for a period of five years from the date of issuance, subject to certain vesting provisions in accordance with the Company’s stock option