Nutritional High International Inc. (CSE: EAT) (OTCQB: SPLIF) (FSE: 2NU) is pleased to announce that Kruzo LLC (“Kruzo“) has formed Psychedelic Science Corp to facilitate its previously announced acquisition by the Company on June 1, 2020. Psychedelic Science Corp. (“PSC“), a company registered in Ontario, will be the parent company of Kruzo and will raise approximately $1.5 million CAD prior to being acquired by Nutritional High.
Psychedelic Science Corp is formed with the mission of, “Assimilation of IP portfolio, product development and commercialization of health benefits derived from naturally occurring psychedelic compounds. Core focus areas will be Mental Ailments such as anxiety, depression and addiction together with Obesity using Peyote (cactai) as a primary solution and Psilocybin (mushrooms) as a secondary solution.”
The Company is also pleased to announce the appointment of the following as part of PSC’s senior management:
Dr. Duke Fu, President
Dr. Fu has a Doctor of Pharmacy and MBA from University of New Mexico and is one of the few Board Certified Nuclear Pharmacists (BCNP) in the state of Nevada. During his doctoral program, Dr. Fu studied and experimented with mycology, cultivating thirty species of fungi, including eight Psilocybin containing strains. He is also the co-founder and current CEO of Green Therapeutics, a premier cannabis cultivation and manufacturing company operating in Nevada since 2015.
As disclosed in previous filings, Nutritional High has an agreement to acquire 75% of Green Therapeutics. The agreement remains in place and the closing of the acquisition is pending the lift of the moratorium on cannabis license transfers in the State of Nevada.
Somnuek Suchaitanavanit, Head of Product and R&D
Mr. Suchaitanavanit is a Senior Advisor at the Department of Thai Traditional and Alternative Medicine, in the Ministry of Public Health. He also serves on the panel of directors that certify herbal Thai products for the Thai Food and Drug Administration. Mr. Suchaitanavanit is also a former Director of the Office of Thai Cannabis Pharmacists and led the program to legalize THC for medical purposes and CBD products for recreational use in Thailand.
Psychedelic Science Corp is also in the process of finalizing the candidate for the role of Chairman of the Medical Advisory Board with demonstrated experience in plant-based research.
John Durfy, CEO of Nutritional High commented, “We are deeply intrigued with the opportunities that both Peyote and Psilocybin presents for Psychedelic Science Corp and Nutritional High. The formation of Psychedelic Sciences Corp and the appointment of two extremely strong management team members completes an immediate milestone in our overall strategy in this space. Dr. Fu and Mr. Suchaitanavanit are highly respected scientific professionals in their fields. Simultaneously, they all have proven business expertise in new ventures and major program management, which will prove to be invaluable for PSC.”
Nutritional High is focused on developing and manufacturing branded products in the cannabis industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively in jurisdictions where such activity is permitted and regulated by state law. Nutritional High has brought its flagship FLÏ™ edibles and vape product lines from production to market in various markets including Colorado where its award winning FLÏ™ products are manufactured by Palo Verde, LLC. The Company signed a purchase agreement for Palo Verde and is awaiting regulatory approval. In California, the Company distributes products through its wholly owned distributor Calyx Brands Inc. For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please follow Nutritional High on Facebook, Twitter and Instagram or visit www.nutritionalhigh.com.
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