Skye Bioscience, Inc. (OTCQB:SKYE) and Emerald Health Therapeutics, Inc. (OTCQB:EMHTF) (CSE:EMH) have entered into a definitive agreement with respect to a transaction to be completed by way of a plan of arrangement whereby Skye would acquire all of the issued and outstanding shares of Emerald in a share-for-share-transaction.

Skye is a San Diego-based pharmaceutical company developing proprietary, synthetic cannabinoid derivatives to treat glaucoma and other diseases with significant unmet needs. Emerald possesses cash and non-cash assets that Skye would acquire through the arrangement. The proposed arrangement is subject to approval by each...