Lucy Scientific Gears Up For Global Wellness Via Acquisition, On Heels Of High Times News

Benzinga ·  09/13/2023 02:50

Canadian drug development company Lucy Scientific Discovery Inc. (NASDAQ:LSDI) is set to acquire e-commerce platform and plant-based wellness brands company BlueSky Wellness Inc. toward further entering the global wellness market with novel psychotropic products. Last week, Lucy announced it was acquiring High Times Holding's IP, effectively enabling the iconic cannabis industry brand to trade on the Nasdaq. For that transaction, Lucy exchanged 19.9% of its publicly traded shares. Following the new deal with BlueSky, its shareholders would receive 3.5 million shares of Lucy's stock plus annual earn-out payments based on a multiple of annual EBITDA in

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