Nutritional High International - taken controlling stake in US peer

Nutritional High International - taken controlling stake in US peer

Canada's Nutritional High International has taken a 51% stake in fellow edible cannabis firm Tres Ojos Naturals, doing business as SolDaze, for US$1.53m.

California, US-based SolDaze produces cannabis-infused fruit snacks while Nutritional High develops, manufactures and distributes cannabis extracts and edible products for medical and adult recreational use.

Jim Frazier, CEO of Nutritional High, said: "We are very pleased to be acquiring SolDaze and its innovative products. In making this acquisition, we are bringing yet another dynamic brand into our product portfolio. 

"Going forward we will continue to seek to acquire high quality assets and further implement our California strategy to create additional value for our shareholders."

Shawn Shelvin, CEO of SolDaze, said: "We are excited to have Nutritional High come aboard as this strengthens SolDaze's overall production, distribution and know-how in our value chain. We look forward to working with the team at Nutritional High and creating synergies moving forward."

Nutritional High has brought its edibles and extracts product line from production to market through its wholly-owned subsidiaries in California and Oregon, as well as Colorado where its products are manufactured by a third-party licensed producer.