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Toronto, Ontario – (Newsfile Corp. – December 31, 2021) – High Fusion Inc. (CSE: FUZN) (“High fusion“or the”Society“) announced that, as requested by the Company, it has obtained a termination order from management (“MCTO“) today by the Ontario Securities Commission (“CSO“) due to its December 16, 2021 announcement that it would be late in filing its interim financial statements for the three-month period ended October 31, 2021 and related MD&A, and the certificate of the CEO and the Chief Financial Officer of Deposits (collectively, the “Q1 2022 Deposits“).
The late filing is due to the complexity associated with the consolidation of the purchase of the assets and activities of OutCo Labs Inc. completed on August 31, 2021. In order to complete the process, the Issuer will establish a timetable with its committee of audit in order to accomplish specific tasks in the process on a daily basis.
As a result of this filing delay, the OSC, the Company’s primary regulator, today issued an MCTO, which imposed restrictions on all transactions and acquisitions of the Company’s securities, direct or indirect, by the Chief Executive Officer and the Chief Financial Officer of the Company. The MCTO will not affect the ability of persons who are not insiders of the Company to trade its securities.
The Company intends to meet the provisions of the Alternative Disclosure Guidelines set out in National Policy 12-203 as long as the first quarter 2022 filings are pending. This includes the release of other weekly default status reports, each of which will be released as a press release. A general cease trade may be issued if the Company fails to file these status of default reports in a timely manner.
About High Fusion Inc.
High Fusion Inc. (formerly Nutritional High International Inc.) focuses on the development and manufacture of branded products in the cannabis industry with a particular focus on flowers, pro-rolls, vapes, edibles and oil extracts for medical and recreational use for adults. The Company operates and controls licenses in California, Colorado and Oregon.
High Fusion has manufacturing, retailing and growth operations in California through its acquisition of the OutCo business and owns and operates petroleum extraction and edibles manufacturing facilities in Colorado and Oregon. The company’s brand portfolio includes its award-winning FL “edibles and vape products, as well as a number of new brands, including Red Octopus and Dubbi Brothers, in addition to the recently acquired OutCo and Thrive brands.
Neural Therapeutics Inc. is a wholly owned subsidiary of High Fusion specializing in the discovery and development of ethnobotanical drugs. Neural Therapeutics is focused on product development and conducting research on psychoactive cactus plants with the primary objective of finding where historical use in traditional medicine has been shown to be effective and capitalizing on opportunities that can be applied. in the markets for modern medical and natural health products. .
For updates on the Company’s business and highlights from Company press releases and other media coverage, please visit www.high-fusion.com.
For more information, please contact:
Haute Fusion Inc.
Robert Wilson, Chief Financial Officer
Email: [email protected]
Caution regarding forward-looking information:
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR OTC MARKETS GROUP INC., NOR THEIR REGULATORY SERVICE PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.
This press release may contain forward-looking statements and information based on current expectations. These statements should not be interpreted as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those implied by such statements. Risks that may impact the ability of these events to materialize include the completion of the first quarter 2022 filings. While these statements are based on reasonable assumptions of management, there can be no assurance that these assumptions will prove to be correct. . We assume no responsibility to update or revise them to reflect new events or circumstances.
The securities of the Company have not been registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or applicable state securities laws, and may not be offered or sold. to, or on behalf of or for the benefit of, persons in the United States or “US Persons”, as that term is defined in Regulation S under the US Securities Act, in the absence of registration or exemption applicable of these registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in the United States or in any jurisdiction in which such an offer, solicitation or sale would be illegal. .
In addition, there are known and unknown risk factors which could cause the actual results, performances or achievements of the Company to be materially different from the future results, performances or achievements expressed or implied by the forward-looking information contained in the this document. All forward-looking information contained in this document is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update such forward-looking information or to publicly announce the result of any revision of either. 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 acquisition and renewal of US state, local or other licenses, uncertainty of existing protection against federal or other lawsuits in the United States, regulatory or policy changes such as changes in applicable laws and regulations , including the legalization of U.S. state laws, market, and general economic conditions in the cannabis industry or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108863