High Fusion Inc. (CNSX:FUZN) announced the spin-off of 12% stake in Neural Therapeutics Inc. on November 3, 2022. As of February 24, 2023, High Fusion Inc. and Neural Therapeutics entered into a amended and restated agreement. The spin-off shall comprise the distribution of approximately one quarter of High Fusion's shareholdings in Neural to High Fusion shareholders. Pursuant to the Agreement, High Fusion will recommend to the shareholders at an upcoming shareholder meeting to distribute 4,716,667 common shares in the capital of Neural. Neural Shares will be distributed to all the holders of High Fusion subordinate voting shares ("SVS") and High Fusion multiple voting shares ("MVS") on a pro-rata basis. Holders of SVS and MVS will receive an aggregate of 4,716,667 Neural Shares via a share exchange. Upon completion of the distribution, High Fusion will retain ownership of approximately 13,266,667 Neural Shares, representing approximately 34.1% of the Neural Shares. As of May 17, 2023, 0.013884682 of a Neural Shares will be distributed to shareholders for each share they held in High fusion.

Neural intends to apply to list Neural Shares on a stock exchange following the completion of the Transaction, but such listing is subject to exchange and regulatory approval. The distribution is subject to shareholder approval, court approval of the Plan of Arrangement pursuant to the Agreement; and certain other customary conditions. As of May 17, 2023, the record date is May 19, 2023. Transaction is expected to close on May 23, 2023. As of May 4, 2023, High Fusion shareholders approved the transaction. Odyssey Trust Company acted as a transfer agent.

Vertical Peak Holdings Inc. completed the Split-Off of 12% stake in Neural Therapeutics Inc. on May 23, 2023.