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Nutritional High International Inc. (the “Company” or “Nutritional High”) (CNSX:EAT.CN) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to comment on the recent introduction of the Strengthening the Tenth Amendment Through Entrusting States Act (“STATES Act”), which proposes to amend the Controlled Substances Act of 1970 (“Controlled Substances Act”). The STATES Act would preclude the US Department of Justice from prosecuting individuals and corporations whose conduct and operations are in compliance with U.S. state laws relating to cannabis, with certain additional provisions such as minimum age and distribution requirements. In addition, the STATES Act also provides that business transactions with state-legal cannabis companies would not be constituted unlawful, which could be instrumental in addressing certain conflicting federal-state laws such as banking and income taxation, and alleviating the challenges that the industry participants have been experiencing.
On June 7, 2018, Senators Cory Gardner (R – Colorado) and Elizabeth Warren (D – Massachusetts) introduced the STATES Act into the U.S. Senate. A companion bill was introduced the same day in the House of Representatives, with sponsorship from Earl Blumenauer (D – Oregon) and David Joyce (R – Ohio). If passed, the STATES Act will exempt state-legal marijuana from the Controlled Substances Act, allowing every state the autonomy to legalize and regulate cannabis as they see fit. The proposed STATES Act also proposes to remove industrial hemp from the federal definition of marijuana. During a press conference, the President of The United States Donald Trump indicated that he will likely support the legislation.
Jim Frazier, CEO of Nutritional High, commented, “We applaud the introduction of the STATES Act by the US Congress and look forward to executing and developing our corporate strategy and operations in a more certain legal environment. The approval of this proposed bill would be a transformative development for the legal cannabis market in the United States and we support the legislation.”
About Nutritional High International Inc.
Nutritional High is focused on developing, manufacturing and distributing products under recognized brands in the cannabis products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.
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:
Chairman of the Board
Nutritional High International Inc.
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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. Such statements include potential legislative changes and timely enactment of such changes by the respective levels of governments. There is no certainty that any of these events will occur. 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.
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.
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