TORONTO, March 02, 2020 (GLOBE NEWSWIRE) -- Nutritional High International Inc. ("Nutritional High" or the "Company") (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to announce that effective March 2, 2020, John Durfy has been appointed as the Company’s Chief Executive Officer. Adam Szweras, CEO of the Company since June 2019, will be stepping down from his role as CEO but will continue on as the Chairman of the Board of Directors of the Company, replacing David Posner. Mr. Posner, a founder and former CEO of the Company, will continue on as a director, providing strategic vision and oversight of Nutritional High.
Mr. Durfy brings a wealth of senior management and executive experience encompassing operations, investment management, financial and business strategy over the past 30 years. Mr. Durfy has an extensive understanding of the North American cannabis landscape through participation on a number of boards, active participation in a cannabis investment corporation, as well as senior leadership experience in a medical cannabis company. He has extensive experience in the capital markets having served as a Managing Director of a major Canadian pension fund, chief investment officer of an alternative asset manager, and chief operating officer of an emerging asset manager.
“We will focus our efforts on the redevelopment of Nutritional High’s business and operating strategy, initially centered around profitable growth and expansion of the Company’s manufacturing footprint in Colorado, California and Nevada,” said Mr. Durfy. “I look forward to working with the team to build on and reinforce a solid foundation of the Company, and to develop brands that resonate with consumers and the markets.”
With a new CEO identified, Adam Szweras will be stepping down from his role as CEO of the Company but will continue on as the Chairman of the Board of Directors effective March 2, 2020. As a founder of Nutritional High, Mr. Szweras has been active in the Company’s leadership since inception and he will work closely with Mr. Durfy in the capacity of broad oversight of Nutritional High, progressing the strategic partnership and transaction of Calyx Brands, Inc. and the overall capital markets strategy.
Mr. Szweras commented: “We are very pleased John has agreed to join the Nutritional High team and will work closely with him to capitalize on strategic opportunities for the Company.” Mr. Szweras added: “I look forward to working with the team and the board in my role as Chairman, and to seeing the Company continue to evolve and grow under John’s leadership.”
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively with licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
The Company follows a vertically integrated model with a fully developed strategy for acquisitions in extraction, production, sales, and distribution sectors of the cannabis industry. Nutritional High has brought its flagship FLÏ™ edibles and extracts product line from production to market through its wholly owned subsidiaries in California and Oregon, as well as Colorado where its FLÏ™ products are manufactured by a third-party licensed producer. In California, the Company distributes its products and products manufactured by other leading producers through its distributor Calyx Brands, Inc. and is entering the Nevada market in the near future.
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 and Instagram or visit www.nutritionalhigh.com.
For further information, please contact:
David Posner
Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals. Although such 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.
The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.