‘Psyched’: Mota Buys German Psilocybin Producer, Champignon Announces New CEO, $10M In Funding

Psyched is a bi-monthly column covering the most important developments in the industry of medicinal psychedelics. We hope you follow us periodically as we report on the growth of this exciting new industry.

Cannabis Co. Pharmadrug Signs LOI To Purchase Dutch Psychedelics Retailer Super Smart

Canada-based cannabis company Pharmadrug Inc. (CSE: BUZZ) (OTC: LMLLF) announced on May 20 the signing of a letter of intent to purchase Super Smart.

Super Smart is a Dutch retail company focused on the sale of psychoactive truffles through the country’s existing network of legal “smartshops”: brick-and-mortar shops that sell psilocybin products grown in a legally grey market.

The letter of intent is non-binding and will be replaced by a final agreement between Pharmadrug and Super Smart, subject to shareholder and regulatory approvals.

Mota Ventures Agrees To Buy German Psilocybin Innovator For $14M

Mota Ventures (CSE: MOTA) (OTC: PEMTF) has entered the psychedelics market with the purchase of Verrian Ontario Ltd.

The cannabis e-commerce retailer has signed a binding term sheet to purchase Verrian Ontario for CA$20 million ($14.2 million) on May 13.

The purchase of Verrian comes as part of …

Full story available on Benzinga.com

More 'Psyched': Mota Buys German Psilocybin Producer, Champignon Announces New CEO, $10M In Funding