Nutritional High International Inc (OTCMKTS:SPLIF) acquired the developer of wellness and health products – Psychedelic Science Corp in exchange for 137.522 million common shares.
Psychedelic Science also engages in R&D on the therapeutic effects of non-psychoactive and psychoactive compounds. Its initial development of products and R&D in alliance with Rangsit University (RSU) is located in Thailand.
Wellness products for sale in North America
As per the terms of the deal with RSU, Psychedelic Science develops extraction and cultivation techniques for mushrooms, cacti, and other plant-based compounds. The company is designing a clinical study to investigate the efficacy and safety of formulations developed from Cacti to treat anxiety, pain, and depression. Psychedelics also works with RSU to develop wellness products derived from non-psychoactive plants. The company will sell wellness products in North America.
Develops psychedelic cacti for clinical use
RSU is trying to secure plant material and test growth rates. Psychedelic Science collaborates with RSU to develop psychedelic cacti for clinical use overseas and in Thailand. It also supports the legalization of psilocybin for use in R&D. The company also coordinates with RSU to cultivate a variety of psychedelic mushrooms.
John Durfy, CEO of Nutritional High, said the takeover of Psychedelic is part of its plan to focus on products that offer higher margins. The company will continue to concentrate on the development, production, and sale of cannabis products. John said the acquisition helped the company solidify its position in the emerging plant-based medical and wellness markets.
Divests Calyx Brands Inc
Nutritional High sold Calyx Brands Inc. (Calyx), NHDCI (NH Distribution California Inc.), and Calyx Brands to DB12 LLC for $7 million and assuming of certain liabilities. Post-sale, the company holds a minority stake in DB12.
Calyx received a Type 11 distribution license from BCC (Bureau of Cannabis Control) of California State. It allows the company to distribute adult-use and medicinal-use cannabis and cannabis products to dispensaries by sourcing directly from the manufacturers.
Nutritional High decided to sell Calyx during a strategic review. Calyx will receive funding from DB12 to develop its business and source flower products.
By retaining minority ownership in DB12, Nutritional High can access the Californian market to distribute its products and strengthen the balance sheet.
 Takes Over Psychedelic Science Corp: Divests Calyx Brands Inc, NH Distribution California Inc And Calyx Brands To DB12 LLC){kind=link}