MIAMI and MAUI, Hawaii, May 19, 2022 (GLOBE NEWSWIRE) — Mycotopia Therapies Inc. (OTC Pink: TPIA) (the “Company”), a biopharmaceutical company focused on the research, technology and development of medical psychedelics, has today announced an update on the previously announced merger with Ei.Ventures Inc. (“Ei”).
Ei has signed a definitive agreement with Mycotopia bringing the two entities together under PSLY.com as the companies move forward with their NASDAQ listing plan.
PSLY.com will be the parent entity holding all of the assets of Ei and Mycotopia.
As previously reported, Ei shareholders will receive shares of PSLY.com based on a valuation of $360 million (subject to adjustments as set forth in the merger agreement) at the close of the transaction. Mycotopia shareholders will receive shares of PSLY.com based on a valuation of over $23 million upon closing of the transaction.
The companies expect to close the transaction on or about July 30, 2022.
Upon closing of the transaction, PSLY.com will have a market value of approximately $383 million.
As Ei Founder and CEO David Nikzad explains, “Of all the companies, we were the most excited about Mycotopia. The areas in which they specialize and have worked perfectly complement Ei’s mission and business plan. They help us bring our products from land to land. A journey that my co-founder Jason Hobson and I started over 20 years ago. In Hawaii, we call it “returning to aina.’”
Since psilocybin is legal in Jamaica and the Netherlands, Ei will be able to leverage Mycotopia’s presence in both countries as a launch pad for its psilocybin consumer and drug product lines. This includes Odyssey Elixir, Psilly patches and the Mana range of nutraceuticals as well as any products developed in the future. Mycotopia will be able to take advantage of Ei’s proprietary formulations, as well as the benefits of recent strategic investments in Odyssey Wellness LLC Elixir and Avicanna.
Mycotopia Founder and CEO, Ben Kaplan, said, “The combination of Ei and Mycotopia is a perfect combination of synergies. We are in markets where psilocybin is already legal. And Ei has been at the forefront of psychedelic thinking, formulation and implementation since the early days. Combining our strengths makes sense for shareholders of both companies, as well as the millions of people who could potentially benefit from our combined product portfolio. »
PSLY.com will continue to expand in physical markets as well as in the digital realm – building on Ei’s recent purchase of hundreds of acres in the metaverse. The combination of physical and digital will help Ei achieve its founding mission statement: to help over a billion people with natural, not synthetic remedies derived from nature – not a lab.
Ei and Mycotopia will continue to update shareholders and the market on the path to listing on NASDAQ, as well as other important updates as PSLY.com launches to market.
About Ei.Ventures Inc.:
Ei.Ventures Inc. is an early-stage technology company that enhances mental wellness through psychoactive compounds, nutraceuticals and technology. Ei leverages blockchain, emerging technologies, and the metaverse to deliver government-approved therapeutic treatment options that address the current global mental health care pandemic. Ei’s goal is to use the development of these technologies to create a safe, efficient and secure means of providing telehealth services in general and psychoactive therapy specifically. Additional information about Ei is available on Ei’s website at: https://www.ei.ventures.
About Mycotopic Therapies
Mycotopia Therapies focuses on helping you heal and take control of your life. Your healing journey is an understanding of the causes and contributes to mental wellness through enhanced psychedelic psychotherapy, integrated with a professional team of mental wellness practitioners and state-of-the-art technology. Psychedelic therapy is a holistic and spiritual approach to healing and has been proven over many years. Additional information about Mycotopia Therapies is available on the Company’s website at: https://www.mycotopiatherapies.com.
Disclaimer of Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be prefaced by the words “intends”, “may”, “will”, “expects”, “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed. or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and development efforts; (ii) the Company’s ability to advance its products to complete their development and commercialization; (iii) the manufacture, development, marketing and market acceptance of the Company’s products; (iv) lack of sufficient financing to fund product development and commercial operations; (v) competitive businesses and technologies within the Company’s industry and the introduction of competing products; (vi) the Company’s ability to establish and maintain business collaborations; (vii) loss of key management personnel; (viii) the extent of protection the Company is able to establish and maintain for the intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential non-compliance with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting the actions of the US FDA and its regulations. Any forward-looking statements included in this press release speak only as of the date of this press release. The Company undertakes no obligation to update any written or oral forward-looking statement, except as required by law. More detailed information about the Company and the risk factors that could affect the making of forward-looking statements can be found under the heading “Risk Factors” in 20/20 Global, Inc.’s registration statement on Form F-1. filed with the securities. and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.
Contact for mycotopic therapies
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