High Fusion Announces Psychedelic Business Strategy And Corporate Update; Private Placement Up To $750,000
Toronto, Ontario November 19, 2021– High Fusion Inc. (CSE:FUZN) (“High Fusion” or the “Company”) is pleased to announce a corporate strategy update in regards to its wholly-owned subsidiary, Neural Therapeutics Inc. (“Neural Therapeutics”), which carries on the Company’s business in the psychedelic space.
Ian Campbell, CEO of Neural Therapeutics commented: “We are very pleased to unveil the details of our corporate strategy. Given the legal status of mescaline and the availability of psychedelic cacti in different countries, this proposed path-to-market is a product of many months of hard work and planning. We’ve considered several different plants and various countries to conduct our R&D efforts. I am pleased to report that we’ve selected San Pedro cactus as our flagship plant. San Pedro has been used by indigenous peoples (mainly in South America) for over 5,000 years and we believe that the modern science has not even scratched the surface of discovering the benefits of San Pedro and other cacti of the same genus. We also believe that the ultimate therapeutic benefit lies in the whole plant extract, not just an isolated substance derived from the plant. The ‘Entourage effect’ has been proven by use in ancient medicine and the mission of our ethnobotanical business plan is to bring those discoveries to light with modern science. Our focus is to honor and respect the traditional use of this plant and that’s why we have plans to utilize the entire plant and unlock its medicinal potential.”
John Durfy, CEO of High Fusion added: “We are very excited with the progress that Mr. Campbell and his team have made in advancing the business of Neural Therapeutics. High Fusion has achieved several important milestones this year, notably the acquisitions of OutCo and Palo Verde and we are pleased that we’ve also advanced our psychedelics business unit. We intend to take steps to spin-off Neutral Therapeutics as a stand-alone company, as we believe that will provide our shareholders with the best value. We will announce the additional details with respect to the timing and structure of the spin-off in future press releases.”
Further to the Company’s press release dated November 10, 2021, Neural Therapeutics wishes to unveil the details of its corporate strategy and its planned business focus. Since inception, Neural Therapeutics has been focused on discovering the benefits of various cacti plants and laying the foundation for a path-to-market that is compliant with global regulatory frameworks as well as the laws of the countries where it chooses to operate.
Neural Therapeutics is an ethnobotanical drug-discovery and development company focused on developing products and conducting research on the psychoactive cacti plants, the first being the San Pedro cactus (Echinopsis pachanoi or Trichocereus pachanoi) containing mescaline.
Neural Therapeutics Inc.
Neural Therapeutics’ objective is to find where the historical use in traditional medicine has proven to be effective and capitalize on the opportunities that can be applied in today’s nutraceutical and pharmaceutical markets. Neural Therapeutics plans to focus on the San Pedro Cactus over the Peyote cactus for the following reasons:
- The larger size of the plant provides more mescaline;
- Unlike the Peyote cactus, San Pedro is not a plant that has been protected for the exclusive use of First-Nations/Indigenous religious practices;
- The plant fully matures 3-5 times faster when compared to Peyote which is considered an endangered species.
Given that mescaline is considered a controlled substance in most jurisdictions around the world, Neural Therapeutics intends to focus on a path-to-market that is compliant with all regulations today and pursue the business strategies that are not dependent upon regulatory change.
Both nutraceutical and pharmaceutical pathways are directed towards satisfying US-FDA requirements (or equivalent requirements in other jurisdictions) for development of drugs or new dietary supplement products. Further details will be unveiled as Neural Therapeutics achieves the relevant business objectives.
Corporate Spin-off Plan
Given that Neural Therapeutics’ business plan will be focusing its efforts on ethnobotanical drug discovery and dietary supplement development, High Fusion believes that it will be in the best interest of its shareholders to spin-off Neural Therapeutics as a stand-alone business (“Spin-Off”). High Fusion and Neural Therapeutics are currently seeking advice of its advisors to determine the best path forward and will announce the additional details in a future press release.
It is anticipated that the potential Spin-Off will be subject to a number of approvals, including and not limited to approval by High Fusion shareholders, court approval and approvals of securities regulators and the Canadian Securities Exchange. There is no assurance that either High Fusion or Neural Therapeutics will be able to secure the approvals necessary to complete the Spin-Off.. Investment in securities of High Fusion and Neural Therapeutics should be considered highly speculative and prospective investors should consults their advisors prior to making any investment decisions.
Financing up to $750,000
The Company also wishes to convey that Neural Therapeutics has announced its intention to complete a financing of up to $750,000 by way of a non-brokered private placement (the “Offering”) of units (“Units”). Each Unit will be comprised of one common share (a “Neural Share”) of Neural Therapeutics and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant will be exercisable into one Neural Share at an exercise price of $0.10 for a period ending on the earlier of: (i) 36 months from the issuance of the Warrants; and (ii) 24 months from the time Neural Therapeutics completes a going public transaction. The net proceeds from the Offering will be used for research and development efforts and general working capital. Interested parties who qualify may request more information by emailing email@example.com.
About High Fusion Inc.
High Fusion Inc., (formerly Nutritional High International Inc.), is focused on developing and manufacturing branded products in the cannabis industry with a specific focus on flower, pro-rolls, vapes, edibles and oil extracts for medical and adult recreational use. The Company operates and controls license in California, Colorado and Oregon.
High Fusion has manufacturing, retail and grow operations in California through its acquisition of the business of OutCo and owns and operates oil extraction and edible manufacturing facilities in Colorado and Oregon. The Company’s brand portfolio includes its award winning FLÏ™ edibles and vape product, along with a number of new brands including Red Octopus and Dubbi Brothers in addition to the OutCo and Thrive brands recently acquired.
For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please visit www.high-fusion.com.
About Neural Therapeutics Inc.
Neural Therapeutics Inc. (formerly Psychedelic Science Corp.) is a wholly-owned subsidiary of High Fusion focused on ethnobotanical drug-discovery and development company. Neural Therapeutics is focused on developing products and conducting research on the psychoactive cacti plants with the primary objective to find where the historical use in traditional medicine has proven to be effective and capitalize on the opportunities that can be applied in modern medical and natural health product markets.
For further information, please contact:
High Fusion Inc.
Robert Wilson, Chief Financial Officer
Neural Therapeutics Inc.
Ian Campbell, Chief Executive Officer
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