Subsequent to announcing a partnership late in May, fellow Canadians Nutritional High International (CSE: EAT)(OTCQB: SPLIF) and NeutriSci International (TSX-V: NU)(OTCQB: NRXCF) are moving forward with developing new THC- and CBD-infused energy tablets. Nutritional High said Tuesday morning that the first product on tap is a new chewable, sublingual THC product that will be sold in California.
THC is short for tetrahydrocannabinol, one of at least 113 cannabinoids identified in cannabis best known for being responsible for the psychoactive "high" associated with marijuana.
The new product, dubbed "Nu Energy Tablets" in today’s news release, will leverage NeutriSci’s patent-pending Cryolisation technology, ingredient mixes from both companies and be manufactured at Nutritional High’s Pasa Verde facility in Sacramento, California. The manufacturing process will begin tomorrow, July 11.
California, the sixth-biggest economy in the world, legalized recreational marijuana as of the first of 2018. The recreational cannabis market in the state is projected to hit $5 billion in 2019, matching estimated beer sales in Cali for 2018.
Nutritional High says that distribution will begin during the third quarter, initially sending the new marijuana melts to about 400 dispensaries across California. The Toronto-based company has a foothold in California, including already marketing its flagship FLÏ™ edibles and extracts product line in the state and owning Calyx Brands, a cannabis distributor in California.
According to the memorandum of understanding inked in May, the companies intend to expand the product line and target markets, including utilizing Green Therapeutics’ facilities in Las Vegas, Nevada to address another lucrative market where both recreational and medical marijuana are legal. Full adult use of pot was made into law in Nevada in July 2017.
In early Tuesday trading, Toronto-listed shares of EAT were up a penny, or 1.3%, to 40 cents. Meanwhile, shares of NU are also up one cent, or 10.0%, to 11 cents after briefly posting a 20% gain with a rise to 12 cents.
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