Nutritional High Announces Closing of Psychedelic Science Corp’s Private Placement of Units
July 22nd, 2020
Nutritional High International Inc. (CSE: EAT) (“Nutritional High” or, the “Company“) is pleased to announce that Psychedelic Science Corp. (“PSC“) has closed a non-brokered private placement (the “Offering“) for aggregate gross proceeds of $1,035,689 through the issuance 34,522,968 units (the “Units“) of PSC at a price of $0.03 per Unit.
Each Unit is comprised of one common share (each, a “Common Share“) and one common share purchase warrant (each, a “Warrant“). Each Warrant entitles the holder thereof to purchase one additional Common Share of the Company at a price of $0.05 for a period of twenty-four (24) months from the date of closing.
Nutritional High entered into a letter of intent to acquire PSC as previously mentioned in the Company’s press release dated June 1, 2020. Further details of the acquisition will be provided once definitive agreements have been negotiated between the Company and PSC.
John Durfy, CEO of Nutritional High commented, “The closing of this private placement is an important milestone towards PSC commercializing psychedelics to address a broad range of consumer health and wellness goals. We look forward to completing our acquisition and putting this capital to work in pursuit of growing our business and developing our flagship product; a commercially viable water-based cacti-infused functional beverage.
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.
The Company has a strategy for acquisitions in extraction, production and sales sectors of the cannabis industry. Nutritional High has brought its flagship FLÏ™ edibles and vape product lines from production to market in various markets including Colorado where its FLÏ™ products are manufactured by Pale Verde, LLC. 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 onFacebook, Twitter and Instagram or visit www.nutritionalhigh.com.
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