Toronto, Ontario–(Newsfile Corp. – April 3, 2023) – High Fusion Inc. (CSE: FUZN) (“High Fusion” or the “Company“) wishes to announce management changes.
Effective March 31, 2023 John Durfy has stepped down as CEO of High Fusion and will remain on the board of directors of the Company to aid in the transition. Mr. Durfy’s duties will be transitioned to Mr. William Gillespie who will become the CEO of High Fusion effective as of the same date. Mr. Gillespie is an entrepreneur who has an extensive track record as a brand builder with expertise in developing business partnerships and driving innovation to achieve profitability. In the past, Mr. Gillespie served as a CEO for several successful business ventures including Social Impact Health Group, Orange Toxicology Labs, Endurance Aesthetics and Consultant Lab Services. Mr. Gillespie launched his entrepreneurial journey as a sales group owner for several top consumer electronics brands and built a manufacturer’s rep group in the Western US, where he led the scaling of one of the top sales representative firms in the United States for Toshiba America, Western Digital, Mitsubishi and Ricoh. Mr. Gillespie has served as a President of SMG Sales Inc., a California-based company focused on representing electronics manufacturers in the placement of a variety of products and services in a variety of industries, including clinical laboratory, senior care, general medicine and COVID-19 pandemic solutions. Mr. Gillespie has served as commercial real estate specialist at a Mission Viejo branch of Keller Williams Realty, Inc. since December 2013.
Effective March 31, 2023 Robert Wilson will step down from the position of CFO and will be replaced by Michael Willetts. Mr. Willetts brings over 25 years of financial leadership roles primarily in manufacturing from large multinational businesses to startups, both public and private primarily in the high tech, manufacturing and cannabis industries. Recently Mr. Willetts was CFO of The Flowr Corporation, a Canadian cannabis producer based in Kelowna, BC.
Mr. Willetts started his professional career was as an engineer in the automotive industry before entering into finance at the Ford Motor Company. Mr. Willetts subsequently went on to progressively larger finance roles in several international automotive suppliers such as Textron, GKN, DSM, and Canadian manufacturers such as Armtec, Stronach International, AirBoss of America. In addition to his role at High Fusion, Mr. Willetts provides fractional CFO services through WD Numeric Corporate Services in the manufacturing, SaaS, and cannabis industries. Mr. Willetts holds a BASc, BComm, and MBA degrees from the University of Windsor.
John Durfy, the outgoing CEO of High Fusion commented: “With the business of OutCo fully integrated into High Fusion’s structure and financially stabilized to focused on expansion and profitability, we believe that transitioning management to a locally-based management team to lead the next phase of growth is appropriate.” Mr. Durfy continued: “The initiatives led by the new California-based leadership team have already made significant improvements to the operations at the Company’s operations in El Cajon, California, which make room to pursue some exciting new growth strategies to capitalize on the massive California cannabis market.”
Under the new management team which will be led by Mr. Gillespie, High Fusion has commenced operating under a licencing agreement with MJ Direct (“MJ Direct Licensing Agreement“) announced in the Company’s press release dated February 22, 2023. Pursuant to the MJ Direct Licensing Agreement, High Fusion licensed the intellectual property of MJ Direct that expects to allow provides safe, legal access to an innovative suite of cannabis products via on-demand delivery to adults across California. A key component of MJ Direct’s success is its data-driven marketing strategy, which seeks to establish MJ Direct, as a singular access point across major cannabis consumer channels in California to provide consumers universalized access to cannabis products and ancillary products.
Adam Szweras, Chairman of High Fusion commented: “On behalf of the board of directors, I would like to thank Mr. Durfy and Mr. Wilson for their service to High Fusion. I also would like to welcome Bill Gillespie and Mike Willetts to our team and look forward to working with them as the Company reaches new heights.”
About High Fusion Inc.
High Fusion Inc. (formerly Nutritional High International Inc.) is focused on developing and manufacturing branded products in the cannabis industry with a specific focus on flower, pre-rolls, vapes, edibles and oil extracts for medical and adult recreational use. The Company operates and controls licenses in California.
High Fusion has manufacturing, retail and grow operations in California through its acquisition of the business of OutCo. The Company’s main portfolio includes the OutCo and Thrive brands recently acquired.
For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please visit www.high-fusion.com.
For further information, please contact:
High Fusion Inc.
Bill Gillespie, Chief Executive Officer
(888) 262 4645
Caution Regarding Forward-Looking Information:
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements include statements regarding: the sale of the Colorado property and statements regarding the development of the Company’s business. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the ability of the Company to successfully execute its business plans and legal changes relating to the cannabis industry proceeding as anticipated.
The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company’s future operations; competition; changes in legislation affecting the Company; obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise; the timing and availability of external financing on acceptable terms; lack of qualified, skilled labor or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and a deterioration of financial markets that could limit the Company’s ability to obtain external financing.
A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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