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NUGL

NUGL Inc

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Several mergers and acquisitions have been announced in the psychedelics sector. Cybin (NYSE:CYBN) is acquiring Small Pharma (OTC:DMTTF), Silo Wellness (OTC:SILFF) is buying NUGL Inc./Kaya Group (OTC:NUGL), and Mindset Pharma (OTC:MSSTF) is being acquired by Otsuka America Inc., part of Otsuka Holdings (OTC:OTSKF). Additionally, Psyched Wellness (OTC:PSYCF) is set to receive $7.5M in financing. The AdvisorShares Psychedelics ETF (NYSE:PSIL) has seen a slight increase in its share price.

Portfolio Pulse from Lara Goldstein

September 05, 2023 | 2:08 pm

Mindset Pharma (OTC:MSSTF) has agreed to acquire all outstanding shares of Otsuka America Inc., the U.S. arm of Otsuka Pharmaceutical Co., for approximately $60 million. The transaction is expected to close on or around October 19, 2023. This acquisition follows Mindset's partnership with Otsuka’s McQuade Center for Strategic Research and Development (MSRD) in January 2022. The deal is seen as a way to maximize Mindset’s IP portfolio and assets value.

Portfolio Pulse from Lara Goldstein

August 31, 2023 | 5:54 pm

Silo Wellness (OTCQB:SILFF) plans to acquire all securities of NUGL Inc./Kaya Group (OTC:NUGL) for $31.9 million. This follows Cybin's (NYSE:CYBN) proposed acquisition of Small Pharma (OTC:DMTTF). The acquisition will involve Silo acquiring 100% of NUGL’s shares in exchange for 2.01 million treasury shares. Silo will also issue common shares within a private placement financing to cover transaction costs and provide additional capital for strategic growth post-merger.

Portfolio Pulse from Lara Goldstein

August 29, 2023 | 6:31 pm

Psychedelics and wellness company Silo Wellness (OTCQB:SILFF) and Jamaican NUGL Inc. (OTC:NUGL) have announced a strategic partnership to offer psychedelic wellness experiences and retreats in Jamaica. As part of the partnership, Silo Wellness has acquired 25,081,369 NUGL shares and issued 15,293,640 of its Class A shares. The shares cannot be transferred or sold for a minimum of 12 months. The partnership will combine Kaya's retail locations and wellness center with Silo's expertise in managing psilocybin wellness retreats.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 2:26 pm

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