Here’s the press launch on the event…
Toronto, Ontario–(Newsfile Corp. – June 24, 2020) – Nutritional High International Inc. (CSE: EAT), (OTCQB: SPLIF) (“Nutritional High” or the “Company“) is pleased to announce that a subsidiary of Psychedelic Science Corp (“PSC“) has entered into an agreement with Rangsit University (“RSU“) to develop a cactai based water beverage product and conduct research on psychoactive cactai and mushrooms. The Institute will conduct efficacy studies and trials of alkaloids in cactai for treatment of mental ailments including anxiety, depression and addiction, as well as appetite suppression. As Psilocybin is more progressively legalized, the Institute, in exclusive collaboration with PSC’s subsidiary, will engage in the research and development of Psilocybin based products targeted towards the same treatments.
Kruzo LLC (“Kruzo“) is a wholly owned subsidiary of Psychedelic Science Corp (“PSC“) which Nutritional High has entered into a letter of intent to acquire, per announcement from the Company on June 1, 2020. PSC will also raise a minimum of $1.5 million CAD prior to being acquired by Nutritional High. Further details of the acquisition will be provided once definitive agreements have been negotiated between the Company and PSC.
Kruzo has executed a binding agreement (“Agreement”) with RSU Royal Herbal Co. LTD to ascertain a Psychedelic Research Institute (the “Institute“). The successful execution of this Agreement cements a significant milestone in PSC’s strategy towards psychedelic research and global product development.
John Durfy, CEO of Nutritional High, commented, “Entering into this Agreement completes an important milestone in our overall strategy to capitalize on opportunities in the psychedelics space. The establishment of the Institute will serve as our beachhead into this space and a platform to develop high-margin consumer and medicinal products.”
Tom Kruesopon, Director at Nutritional High and co-founder of Kruzo commented, “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.”
Per the phrases of the Agreement, the objective of the Institute will likely be to analysis the efficacy of numerous psychedelic elements discovered naturally in numerous entheogenic crops comparable to cacti, mushrooms and others. In addition, the Institute will examine the efficacy of numerous non psychoactive elements present in such crops. Kruzo and RSU will look to develop commercially viable shopper and medicinal merchandise focusing on the well being and wellness markets. All analysis and improvement will likely be carried out in full compliance with ASEAN GMP requirements. The Institute will search to ascertain a cultivation facility with a view in the direction of the manufacturing of cactai for the aim of extracting Mescaline, Hordenine and different alkaloids, and mushrooms for the aim of extracting Psilocybin.
Furthermore, the Institute will instantly start improvement of a commercially viable water-based practical beverage with non-psychoactive cactai because the energetic ingredient (the “Cactai Beverage“). Targeted features of the Cactai Beverage will embody urge for food suppression and delicate pleasure or euphoria. In accordance with the Agreement, RSU will likely be chargeable for sourcing uncooked plant materials, plant extraction processes, beverage formulation, product testing and the event of the Cactai Beverage. The commercialization of the Cactai Beverage just isn’t anticipated to require FDA or Health Canada approval in its practical non-psychedelic model. Future psychedelic model would require approval.
Any mental property developed throughout the scope of the Agreement or in any other case via the Institute, will stay the unique property of Kruzo. Future tasks of the Institute might contain different third events and grant of mental property to these third events will likely be topic to prior written approval by Kruzo.