Canadian firm Neural Therapeutics Inc. (CSE: NURL) has acquired a 30.75% possession curiosity in CWE European Holdings Inc., operator of Hanf.com, a German hemp retail chain.

Neural, which develops psychedelic and useful mushroom merchandise, went public on the Canadian Securities Alternate (CSE) final spring.

CWE/Hanf.com runs a community of roughly 15 owned or franchised shops that promote CBD wellness and different hemp merchandise, and has additionally developed wholesale channels throughout Germany. Its product vary consists of wellness formulations and nicotine-free natural merchandise.

All-stock, no money

The all-stock, no-cash deal noticed Neural challenge practically 80 million widespread shares to CWE shareholders, valued at CAD $0.05 per share. The deal provides CWE buyers a 47.4% stake in Neural.

Small-cap operators like Neural often pursue equity-based offers fairly than money transactions, utilizing their inventory as acquisition forex to achieve publicity to working companies comparable to CWE.

Neural’s roots hint again to Filament Well being Corp., a Canadian psychedelics firm that spun out Neural in 2021 to deal with mescaline-based drug growth.

Winding path

The corporate went public in April 2025 by way of a reverse takeover of Excessive Fusion Inc., a listed Canadian firm. Below the deal, Neural merged with a subsidiary of Excessive Fusion, swapped its personal shares for public ones, and took over the itemizing, altering the title to Neural Therapeutics Inc. and the ticker to NURL.

Buying and selling started final April on the CSE, a market for rising small-cap corporations (penny shares).

Neural not too long ago reported that CWE generated CAD $7.1 million in revenues for fiscal 2024, up 65% year-on-year, with internet earnings of CAD $371,000. Preliminary, unaudited figures for the primary half of 2025 point out revenues of roughly CAD $5 million, up 31% from the identical interval in 2024, and an primarily breakeven working end result.