- High Fusion (FUZN) has signed an agreement with Neural Therapeutics Inc. to distribute one-quarter of its shareholdings in Neural to High Fusion shareholders
- The company recommends its shareholders distribute 4,716,667 common shares in the capital of Neural to the shareholders of the High Fusion
- High Fusion will retain ownership of approximately 13,266,667 Neural Shares, representing approximately 34.1 per cent of Neural’s shares
- High Fusion Inc. (FUZN) was unchanged at $0.015 at 9:45 am ET
High Fusion (FUZN) has signed an agreement with Neural Therapeutics Inc. to distribute one-quarter of its shareholdings in Neural to High Fusion shareholders.
The company recommends its shareholders distribute 4,716,667 common shares in the capital of Neural to the shareholders of the High Fusion. Neural Shares will be distributed to all the holders of High Fusion subordinate voting shares and High Fusion multiple voting shares on a pro-rata basis.
High Fusion will retain ownership of approximately 13,266,667 Neural Shares, representing approximately 34.1 per cent of Neural’s shares.
Should the shareholders approve, holders of High Fusion subordinate voting shares and multiple voting shares will receive 4,716,667 Neural Shares via a share exchange.
John Durfy, CEO of High Fusion Inc., commented,
“This strategic spin-out of our holdings in Neural, featuring its own leadership team, is designed to immediately unlock the value of Neural and provide a benefit to our shareholders.”
High Fusion (FUZN) is a developer and manufacturer of branded products in the cannabis industry with a specific focus on flower, pre-rolls, vapes, edibles and oil extracts for medical and adult recreational use.
High Fusion Inc. (FUZN) was unchanged at $0.015 at 9:45 am ET.