Pharmadrug Inc. BUZZ LMLLF has agreed to acquire Super Smart, a Netherlands startup geared toward psychedelics.
Terms of the deal were not disclosed.
Toronto-based Pharmadrug announced Wednesday it has entered into a non-binding letter of intent with Interrobang Ltd., which does business as Super Smart, to buy 100% of the company's issued and outstanding common shares.
The goal its to grow Pharmadrug's existing business — which is focused on cannabis distribution — into the burgeoning psychedelics, or "magic mushrooms," space.
The LOI will be replaced by a final agreement between Pharmadrug and Super Smart and will be subject to shareholder and regulatory approvals.
Super Smart is under the helm of CEO Harry Resin, a former writer for High Times. Joshua Kasakevich is the company's COO, focusing on corporate strategy, branding, advertising and retail sales.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.