Toronto, Ontario--(Newsfile Corp. - November 12, 2021) - Nutritional High International Inc. (CSE: FUZN) (OTCQB: SPLIF) (the "Company") announced today that its common shares remain halted pending the filing of articles of amendment to give effect to its name change from "Nutritional High International Inc." to "High Fusion Inc." (the "Name Change"), the reclassification of its common shares to "subordinate voting shares" (the "Share Reclassification") and the creation of a new class of shares called "multiple voting shares".
The Company has been unable to file the articles of amendment due to a technical issue with the Company's access to Corporation Canada's online filing platform. The Company is working to resolve the issue as quickly as possible.
Once the articles are filed the multiple voting shares will be nearly identical to the subordinate voting shares but for the fact that each multiple voting share will carry the right to ten votes per share and have the economic equivalent of ten subordinate voting shares. The multiple voting shares are being created in connection with the Company's acquisition of substantially all the assets of OutCo Labs Inc. Pursuant to the acquisition, the multiple voting shares are being created in order to minimize the proportion of the outstanding voting securities of the Company that are held by "U.S. persons" for purposes of determining whether the Company is a "foreign private issuer" pursuant to United States securities laws. Further information about the Share Reclassification is available in the Company's information circular dated August 17, 2021, which is available under the Company's SEDAR profile at www.sedar.com.
The CUSIP number assigned to the subordinate voting shares following the Name Change and Share Reclassification will be: CUSIP 42967W102 (ISIN CA42967W1023).
In connection with the Name Change and Share Reclassification, the trading symbol for the subordinate voting shares trading on the Canadian Securities Exchange has been changed from "EAT" to "FUZN".
