- Nutritional High’s (EAT) OutCo acquisition will benefit from a recent vote by the San Diego County Board of Supervisors
- The board affirmed a series of changes to the five cannabis operations running in the unincorporated area of San Diego County
- The operators will now be able to sell recreationally, sell and produce edibles, expand their properties and transfer their licenses
- Nutritional High, to be rebranded as High Fusion, is focused on developing and manufacturing branded products in the cannabis industry
- Nutritional High (EAT) is down by 3.7 per cent and is currently trading at $0.13 per share
Nutritional High’s (EAT) OutCo acquisition will benefit from a recent vote by the San Diego County Board of Supervisors.
The board conducted a second reading and affirmed, by a 4-1 vote, a series of changes to the five cannabis operations running in the unincorporated area of San Diego County.
The board voted to:
- Allow all five operators to sell recreationally
- Allow the sale and manufacturing of edible products
- Allow for expansion and build-out of existing properties
- Allow transferability of licenses
- Develop a social equity program for the county
- Create a new ordinance over the next 18-24 months with input from the five operators
The licensed entities controlled by Nutritional High – Downwind 27 (aka Outliers Collective) and San Diego Natural – will be the major beneficiaries of these changes.
John Durfy, CEO of Nutritional High, stated,
“Recreational cannabis sales in California reached an estimated US$4 billion in 2020, which represents over five times the size of the medicinal market in the state (Headset, Marijuana Business Daily, University of California).
With the approved changes to the ordinance, we will have the opportunity to address a much larger portion of the population of the county. In addition, new licenses are not expected to be issued until the county rewrites the ordinance and incorporates a full social equity program; as such, we will control two of only five licenses in the county until that happens.”
Lincoln Fish, CEO of OutCo, who sold the businesses to Nutritional High and is part of the company’s management team, added,
“Today represents the culmination of a five-year effort. This forward-thinking board realized that cannabis is now an integral part of our community. This recreational designation will allow the company to expand both dispensaries and double the cultivation space to service a much broader community. It’s a very exciting day and a very long time coming.”
Nutritional High, to be rebranded as High Fusion, is focused on developing and manufacturing branded products in the cannabis industry.
Nutritional High (EAT) is down by 3.7 per cent and is currently trading at $0.13 per share as of 1:11 pm ET.