EMHTF - Skye Bioscience to acquire Canadian cannabis company Emerald in stock deal plans CSE listing

San Diego-based Skye Bioscience (OTCQB:SKYE) is acquiring Canada-based medical cannabis company Emerald Health Therapeutics (OTCQX:EMHTF) in a share-for-share-transaction and intends to list on the Canadian Securities Exchange (CSE). Under the Plan of Arrangement, Skye will issue Emerald shareholders 1.95 Skye common shares in exchange for 1 Emerald share. It is expected that Skye would issue ~416M Skye shares to Emerald. The combined company would continue to operate under the name Skye Bioscience. Current Skye stockholders would own 54% stake in Skye, while former shareholders of Emerald would own the remaining 46% stake. Through the transaction Skye expects to fund a phase 2 study of synthetic cannabinoid-derivative SBI-100 in glaucoma which is planned to start in Q4, following a phase 1 trial starting in Q2. The boards of both companies approved the Arrangement and recommend their shareholders to vote in favor of the deal. The transaction is expected to close in Q3, subject to approval of

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Skye Bioscience to acquire Canadian cannabis company Emerald in stock deal, plans CSE listing