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Nutritional High International Inc. (CSE: EAT) ("Nutritional High" or the "Company") is pleased to provide an update on recent advances made by its new Psychedelic Science Corp. (PSC) business unit acquired last month (see: press release dated August 17, 2020). PSC is focused on developing psychedelic cacti-based wellness and pharmaceutical products to address various conditions.
PSC has been developing safety trials of certain psychedelic cacti strains with a view to assessing safety and efficacy with respect to weight loss, insomnia, anxiety and pain. PSC has applied to the Thai FDA which will meet US and international FDA standards.
PSC has formed a Science Committee comprised of NHII board member Dr. Jason Dyck (University of Alberta), Dr. Duke Fu (CEO of Green Therapeutics, Nevada) and Dr. Ekapol Limpongsa (Rangsit University, Thailand). The committee is working closely with John Durfy, CEO of Nutritional High to prepare for the trials including:
- assessing the alkaloid content of various cacti in order to select appropriate strains for trials. Over the next 2 weeks PSC will finalize the selection of a cactus strain based on alkaloid make-up, mescaline content, speed of growth, plant genomics and sourcing availability.
- PSC has developed a proprietary whole plant extraction methodology which will be used in the extraction process at Rangsit University.
- establishing third-party supply and potentially launching a commercial grow.
The PSC team is also assessing various non-psychoactive, cactus-based wellness products which are legal for sale and distribution in the U.S. and Canada.
John Durfy, CEO of Nutritional High commented, "We are very excited to be one of the first companies to commence trials on the medicinal value of the cactus plant. With the progression of these trials over the next few months, we will gain an understanding of the potential products we look to launch in 2021."
Nutritional High Chair, Adam Szweras, added: "While we will continue to focus our efforts in the US cannabis markets, we believe that PSC will provide the Company with a significant opportunity in the future as the regulatory environment for psychedelic products continue to develop. While other companies are focusing on other psychedelic plants, we believe our focus on cactus will blaze the trail for possible wellness and pharma applications in the future."
About Nutritional High International Inc.
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.
The Company also distributes products through its wholly owned distributor Calyx Brands Inc. The Company signed an agreement to sell Calyx which is expected to close in the current fiscal quarter.
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.
For further information, please contact:
Robert Wilson
Chief Financial Officer
Nutritional High International Inc.
416-666-4005
Email: rwilson@nutritionalhigh.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64777
