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 powerful demand for core solutions driven by improvement of further 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 much 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 around $17.two million with sales in the second half of the period growing by 96% to $11.four million from $five.eight million in the very first half of the period. More than the identical period, gross margin enhanced by around 10%.
The Business 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 an additional 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 Business will commence develop-out of the warehousing space, seek a certificate of occupancy and apply for an operating permit to launch distribution operations. As soon as operational, the further infrastructure will substantially enhance 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 sustain our commitment to becoming a single of the major suppliers and distributors of cannabis solutions in Western US,” commented Adam Szweras, Co-Chairman of Nutritional Higher. “We have confirmed out our technique in California, exactly where we are the top rated distributor of edibles, and will continue expanding our footprint in the state. We are moving ahead with core strategic concentrate on California and Nevada, whilst progressively executing our industrial development plans in other jurisdictions as properly.”
Nutritional Higher and Tres Ojos Naturals LLC (“Tres Ojos”) mutually elected not to proceed with the previously announced acquisition (announced January 29, 2019). The Business will nevertheless continue to distribute SolDaze by means of its wholly-owned subsidiary, Calyx and pretty substantially appears forward to a continued close connection with the SolDaze group.