- Nutritional High International’s (CSE:EAT) soon-to-be subsidiary, Kruzo LL, has entered a research and development collaboration with Rangsit University
- Kruzo is a subsidiary of Psychedelic Science Corp, which the company has signed a letter of intent to acquire
- Rangsit University and Kruzo will collaborate to develop a cactai-based water beverage product
- Kruzo has also executed a binding agreement to establish a Psychedelic Research Institute, the first in Asia
- Nutritional High (EAT) is down 7.69 per cent and is currently trading at three cents per share
Nutritional High International’s (CSE:EAT) soon-to-be subsidiary, Kruzo LL, has entered into a research and development collaboration with Rangsit University.
Kruzo is a wholly owned subsidiary of Psychedelic Science Corp, which Nutritional High has agreed to acquire. The company has signed a letter of intent for the acquisition, but has yet to negotiate a definitive agreement.
Psychedelic Science intends to raise a minimum of C$1.5 million before being acquired by Nutritional High.
Kruzo has entered into a binding agreement with Rangsit University in Thailand, regarding the research and development collaboration. This includes an agreement with the University to establish a Psychedelic Research Institute, the first of its kind in Asia.
The two entities and their resulting Institute will conduct research on psychoactive cactai and mushrooms. The research will include efficacy studies and trials of cactai alkaloids, which may treat anxiety, depression, and addiction, and suppress appetites.
The Institute will also attempt to develop a water beverage product, with non-psychoactive cactai as the main ingredient. The end goal will be a product which induces appetite suppression, mild pleasure, or euphoria.
Nutritional High’s CEO, John Durfy, called the agreement an important milestone in the company’s strategy to capitalise on psychedelic opportunities.
“The establishment of the institute will serve as our beachhead into this space and a platform to develop high-margin consumer and medicinal products,” he said.
Tom Kruesopon, a Director at Nutritional High and co-founder of Kruzo, also commented on the agreement.
“This is a culmination of a lot of hard work, with CBD, herbal medicine and now psychedelics being on the forefront to address a broad range of consumer health and wellness goals. I am proud to be a key facilitator in the establishment of this first ever Psychedelic Research Institute in Asia.
“This is just the start, and it will be exciting to see where this leads us in the coming years. This is a pivotal step in unlocking the wonders of plant-based medicine,” he said.
Nutritional High (EAT) is down 7.69 per cent and trading at three cents per share at 11:02am EDT.
