As 2017 draws to a close, we find ourselves coming back to NUTRITIONAL HIGH I COM NPV (OTCMKTS:SPLIF), which was among the first stocks that we mentioned this year. It was, in a way, a tale of two stocks, being bearish in the first six months of the year, and bullish in the last six. That bullish tendency has exploded recently, with SPLIF taking off and running over 400% this week.
The move came, at least in part, due to the company’s press announcement on Wednesday, concerning an acquisition target the company is in the process of purchasing. The company is located in California, where legal marijuana sales kick off starting next week.
NUTRITIONAL HIGH I COM NPV (OTCMKTS:SPLIF) entered into an agreement to purchase the business of Calyx Brands Inc., which was announced in a press release on November 7th. Calyx is a leading distributor of cannabis products in California, has received a Medicinal – Distributor Temporary License from the California Bureau of Cannabis Control. The Temporary Medicinal Distributor License will enable Calyx to distribute cannabis to licensed medical dispensaries beginning January 1, 2018. Calyx has also applied to the California Bureau of Cannabis Control for a Recreational – Distributor Temporary License and expects to receive such licensing in short order.
Jim Frazier, CEO of Nutritional High, commented – “We are excited about this development as it validates our due diligence and positions Calyx to be a major player in distributing cannabis products to the California market. We are working closely with Calyx’s management team to finalize the acquisition and propel forward Calyx’s expansion efforts in California. Beginning January 1, 2018, the new regulatory landscape in California will empower well-organized and fully-licensed companies to capture market share and we believe Nutritional High and Calyx are well positioned to capitalize on this opportunity.” (Source: Globe Newswire)
On another related note, SPLIF announce that MedMen, one of the premier dispensary chains in California, will be featuring the company’s FLI brand for Patient Appreciation Days at their locations across Los Angeles
MedMen orchestrates Patient Appreciation Days to introduce their clients to the top cannabis brands in the industry. In anticipation for FLI’s full-scale roll-out across California, MedMen will be showcasing FLI’s full suite of premium quality vape cartridges including the FLI Premium, and FLI High Terpene product lines.
California is the largest cannabis market in the world, and with the coming advent of a full recreational market, sales are forecasted to grow to over US$6.8 billion by 2021 with vaporizer products expected to account for 15% of the overall market.
“As we approach the launch of legalized adult-use cannabis in California in just 4 days, Nutritional High is ramping up promotional efforts for our portfolio of premium, quality cannabis products in the state,” said Jim Frazier, CEO of Nutritional High. “We have received strong initial interest in our products and will continue to explore innovative ways to engage consumers as we progress in our goal to expand our FLI Brand throughout the state of California.” (Source: Globe Newswire)
Though based in Canada, where recreational sales begin in July, SPLIF is one of the companies that is working to take advantage of the rollout of California’s new laws at the start of the new year. It makes for a doubly interesting story that we will be sure to follow closely. Stay with us here on Street Register. We’ll keep our eyes peeled for any new developments in SPLIF, and pass them along to our readers! Be sure you’re signed up for our 100% free small cap newsletter to stay up to date!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SPLIF stock, short or long.