Nutritional High Announces Application for Management Cease Trade Order

Toronto, Ontario–(Newsfile Corp. – October 30, 2020) –  Nutritional High International Inc.(CSE: EAT) (OTC Pink: SPLIF) (“Nutritional High” or the “Company“)announces today that it has made an application to the Ontario Securities Commission to approve a temporary management cease trade order (“MCTO“) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), which, if granted, will prohibit trading in securities of the Company by its Chief Executive Officer, Chief Financial Officer and certain other insiders of the Company, whether direct or indirect, so long as the 2020 Filings (as defined below) remain outstanding. The issuance of an MCTO would generally not affect the ability of persons who are not, or who have not been, directors, officers or other insiders of the Company to trade in the Company’s securities.

In discussion with its auditors, the Company has determined that it is not able to meet the November 30, 2020 filing deadline (the “Filing Deadline“) for its audited financial statements for the year ended July 31, 2020, the management’s discussion and analysis and the related CEO and CFO certification relating to the 2020 financial statements (collectively, the “2020 Filings“). Although the audit process is progressing, the auditors anticipate some delays in completing the audit process, such that the Company is not able to meet the Filing Deadline for the 2020 Filings.

Although the Company remains confident in its ability to complete the 2020 Filings, it requires an extension and has therefore applied for an MCTO. In particular, the Company is coordinating with its auditors to set up a realistic timetable with specific tasks to be completed on a daily basis. The Company will use its best efforts to complete the process within this timeline. The Company anticipates that, subject to current conditions remaining the same, it will require approximately three additional weeks to complete the audit review process and in either event will use its best efforts to complete the process within the next two months.

The Company intends to satisfy the provisions of the alternative information guidelines set out in Sections 9 and 10 of NP 12-203 so long as the 2020 Filings are outstanding.

About Nutritional High International Inc.

Nutritional High is focused on developing and manufacturing branded products in the cannabis industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively in jurisdictions where such activity is permitted and regulated by state law. Nutritional High has brought its flagship FLÏ™ edibles and vape product lines from production to market in various markets including Colorado where its award winning FLÏ™ products are manufactured by Palo Verde, LLC. The Company signed a purchase agreement for Palo Verde and is awaiting regulatory approval.

The Company also distributes products through its wholly owned distributor Calyx Brands Inc. The Company signed an agreement to sell Calyx.

For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please follow Nutritional High on FacebookTwitter and Instagram or visit www.nutritionalhigh.com.

For further information, please contact:

Robert Wilson
Chief Financial Officer
Nutritional High International Inc.
416-666-4005
Email: rwilson@nutritionalhigh.com

Caution Regarding Forward-Looking Information:

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.

Source: Newsfile Corp