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Toronto, Ontario – (Newsfile Corp. – December 16, 2021) – High Fusion Inc. (CSE: FUZN) (“High fusion“or the”Society“) announces today that it has filed an application with the Ontario Securities Commission to approve a management’s temporary cease trade order (“MCTO“) under national policy 12-203 – Management termination orders (“NP 12-203“), which, if granted, will prohibit trading in securities of the Company by its CEO, CFO and certain other insiders of the Company, whether direct or indirect, as long as the 2022 filings (as defined below) remain The issuance of an MCTO would generally not affect the ability of persons who are not, or who have not been, directors, officers or other insiders of the Company to trade the Company securities.
The Company has determined that it was unable to meet the December 30, 2021 filing deadline (the “Deadline for submission“) for its interim financial statements for the quarter ended October 31, 2021, the MD&A and the related CEO and CFO certificate relating to those financial statements (collectively, the”Deposits 2022Although the preparation of the financial statements is progressing, the Company anticipates delays in finalizing the 2022 Deposits, so the Company will not be able to meet the Filing Deadline.
While the Company remains confident in its ability to complete 2022 filings, it needs an extension and has therefore requested an MCTO. In particular, the Company prepares a realistic schedule with specific tasks to be accomplished on a daily basis. The Company will do its best to complete the process within this time frame. The Company anticipates that, provided the current conditions remain the same, it will take approximately three additional weeks to complete the 2022 case preparation process and, in any event, will do its best to complete the process within both. next months.
The Company intends to comply with the provisions of the Alternative Disclosure Guidelines set out in Sections 9 and 10 of PN 12-203 as long as the 2022 filings are pending.
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 modern markets for 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 occur include the completion of the 2022 statements. Although these statements are based on reasonable assumptions of management, there can be no assurance that such 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 legalization of US 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/107875