Le Lézard
Classified in: Business
Subject: EARNINGS

Nutritional High Announces Financial Results for 2019 First Quarter


Record Cannabis Sales of $5.8M in Q1 2019
39% growth over Q4 2018 and 244% over Q3 2018

TORONTO, Dec. 27, 2018 (GLOBE NEWSWIRE) -- Nutritional High International Inc. ("Nutritional High" or the "Company") (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) announces financial and business results and wishes to provide highlights and comments on the results for the first quarter ended October 31, 2018.

       
  Q1 2019Q4 2018ChangeQ1 2018Change
            
Revenue  $5,764 $4,140 $1,623 $0 $5,764 
COGS $4,639 $3,705 $934 $0 $4,639 
Gross Profit $1,125 $436 $689 $0 $1,125 
Gross Margin % 19.5% 10.5% 9.0% 0.0% N/A
Lease and Interest Revenue* $1 ($965) $966 $308 ($307) 
Operating Expenses $4,252 $3,490 $762 $1,681 $2,571 
Other Income (Loss) $4,539 ($24) $4,563 ($269) $4,808 
Net & Comprehensive Income/(Loss) $1,112 ($3,958) $5,070 ($1,676) $2,788 
Earnings/(Loss) per Share $0.004 ($0.015) $0.019 ($0.007) $0.010  
            

All Figures in Thousands CAD, unless otherwise stated
*Historically, revenue derived from lease and interest income; as of fiscal Q3 2018, revenue included sales from Cannabis in the State of California

FINANCIAL HIGHLIGHTS: Q1 2019

BUSINESS HIGHLIGHTS: Q1 2019 AND SUBSEQUENT

Jim Frazier, Nutritional High's CEO, commented as follows: "We are really pleased with our results for Q1 2019. It is a testament to the groundwork and architecture that we have laid in 2018. Our robust base of operations in California will continue to drive revenue and margin growth as we secure more market leading brands, deeper market penetration and significant scalability in manufacturing with the progress of FLI Labs NorCal. Simultaneously, our progress in integrating Green Therapeutics in the Nutritional High family, together with rapid expansion in Oregon and Colorado will enable us to create a leading multi-state platform. In 2019 Nutritional High will be taking an aggressive approach in developing innovative technologies that will set the stage for the next generation of industry advancements in processing and building better life style products."   

Adam Szweras, founder and Co-Chair of the Board commented: "We are continuing on our transformational journey by delivering record revenues in the first quarter of the year. It is a direct result of our strategic success in the development of consumer centric products and markets while placing an equally keen eye in the development of our human capital. We have started strong in 2019 and will continue the momentum with a core focus in Western US and a defined plan to expand in the US east coast, Canada and the international markets. We stay true to our strategy of building an industry leading organization focused on cannabis extraction and infused product manufacturing."

A comprehensive discussion of Nutritional High's financials and operations are provided in the Company's Management's Discussion & Analysis ("MD&A") and Financial Statements which are filed on SEDAR at www.sedar.com

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 FLÏtm edibles and extracts product line from production to market through its wholly owned subsidiaries in California and Oregon, as well as Colorado where its FLÏtm 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 wholly owned distributor Calyx Brands Inc. and is entering the Nevada, Washington State and Canadian markets 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, Instagram and Google+ or visit www.nutritionalhigh.com.

For further information, please contact:

David Posner
Co-Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: [email protected]  

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. The statements relate to potential market expansion and the use of the proceeds of the Offering.  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. 


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