TPIA - Psytech to merge with Wesana; Mycotopia shareholders will benefit from the transactions

Mycotopia Therapies (TPIA) has announced that Wesana Health Holdings (DBDIF) announced the execution of a definitive agreement to acquire Psychedelitech, also known as PsyTech, for a price of ~C$21M in Wesana Health stock.Mycotopia Therapies is a minority shareholder owning less than 10% of Psychedelitech Inc. The transaction will be effected by way of a three-cornered amalgamation between PsyTech, Wesana and a wholly-owned subsidiary of Wesana.It will require approval by 66 2/3% of the votes cast by PsyTech shareholders at the PsyTech Meeting.The Transaction will involve the issuance of ~7.4M subordinate voting shares of Wesana as the acquisition consideration.The closing of the Transaction is expected to occur during Q3 2021.

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Psytech to merge with Wesana; Mycotopia shareholders will benefit from the transactions