MYNDF - MYND Life Sciences plans to acquire Tidal Psychedelics in all-stock deal

MYND Life Sciences (OTCPK:MYNDF) entered into a non-binding memorandum of understanding to acquire all the issued and outstanding shares of Tidal Care (Tidal Psychedelics). Tidal — which has access to a $10M leasehold facility built for cannabis and mycelium cultivation — is a psilocybin company. Psilocybin is a psychedelic prodrug compound found in "magic mushrooms." The two companies have agreed on an all-share transaction, the details of which will be announced after the parties present the proposed acquisition to their respective boards and shareholders. MYND (OTCPK:MYNDF) said the primary goal of the combined entity is to provide MYND's intellectual property (IP) portfolio with access to additional capital and an experienced management team to advance its research and development initiatives. MYND (OTCPK:MYNDF) noted that Tidal shareholders will gain access to four global provisional patents, access to a $2.5M cannabis-specific building and a $1.2M investment into MYND's  research and development. MYND (OTCPK:MYNDF) said there would be a follow-up opportunity of a

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MYND Life Sciences plans to acquire Tidal Psychedelics in all-stock deal