Business
Ehave Plans Stock Distribution; Mycotopia Therapies Plans To Merge With Ei. Ventures
Ehave Plans Stock Distribution; Mycotopia Therapies Plans To Merge With Ei. Ventures.
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[{"type":"text","content":"\n Mycotopia and Ei.Ventures announced the signing of an LOI to explore a merger and the formation of PSLY.COM, a $360 Million transaction, and will apply to list shares on NASDAQ; Ehave plans to spin out 30% MIAMI, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Ehave, Inc., (OTC Pink: EHVVF) (the “Company”), a provider of digital therapeutics for the psychedelic and mental health sectors, announced today plans to spin out 30% of its Mycotopia Therapies (OTC: TPIA) shares to existing shareholders on a pro rata basis. Mycotopia Therapies announced Tuesday it had signed an LOI with Ei.Ventures and that the two companies plan to explore a potential merger and formation of PSLY.COM, a $360 Million transaction. Once the transaction is completed, the combined companies will apply to list on NASDAQ. Ehave controls approximately 9,793,754 shares of Mycotopia Therapies, and the Company plans to spin out a percentage of its shares of the combined companies to its existing shareholders. Ehave acquired its shares in Mycotopia Therapies in December 2020 after its Board of directors elected to sell 100% of its Mycotopia Therapy subsidiary to 20/20 Global for $350,000 and 9,793,754 shares of 20/20 Global stock. 20/20 Global was renamed to Mycotopia Therapies and files audited financial statements with the U. S. Securities and Exchange Commission on EDGAR. “Spinning out a portion of Ehave's Mycotopia Therapy shares to our shareholders is an honor and a privilege,” said Ben Kaplan, CEO of Ehave. Mr. Kaplan continued, “We knew Mycotopia Therapies would have more potential as its own publicly traded company. Being able to spin out 30% of Ehave's Mycotopia shares to our shareholders is a great way for us to say 'Thank You' for being the best part of our company.” Mycotopia Therapies is focused on the research, development, and commercialization of novel therapeutics based on naturally-derived psilocybin. Performing most of its research in Jamaica, where psilocybin is legal, Mycotopia Therapies is focused on mushroom and psychedelic opportunities. Mycotopia Therapies is currently working with one of the largest cannabis labs in the Netherlands to develop psychedelics to jointly license certain molecules to be used in psychedelic medicine. Mycotopia Therapies also plans to open psylocibin and ketamine clinics in Jamaica under t...