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Creso Closes Halucenex Acquisition, Bruce Linton to Become Chairman of The HighBrid Lab

With the Halucenex Life Sciences Acquisition Now a Done Deal, Creso Pharma Will Look to Capitalize on the Rapidly Emerging Global Medical Psychedelics…

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  • With the Halucenex Life Sciences Acquisition Now a Done Deal, Creso Pharma Will Look to Capitalize on the Rapidly Emerging Global Medical Psychedelics Market Currently Valued at Up to USD $100 Billion
  • The Addition of Bruce Linton as the Chairman of The HighBrid Lab Pending the Completion of Creso’s Merger With Psychedelics Standout Red Light Holland Will Be an Absolute Game-Changer for the New Combined Company
  • As the Founder and Former CEO of Cannabis Industry Behemoth Canopy Growth and Early Investor and Advisor of Top Psychedelics Firm MindMed, Linton Committing to Chair The HighBrid Lab is a Very Big Deal as He’ll Bring With Him a Wealth of Cannabis & Psychedelics Industry Experience as Well as an Invaluable Deal Making and Financing Rolodex.
As the pending merger between global cannabis leader Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) and rising psychedelics superstar Red Light Holland (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX) moves towards closing, Creso recently announced the completion of its acquisition of established Canadian psychedelics company Halucenex Life Sciences. Following a period of significant due diligence by Creso Pharma, the company and its shareholders are now in a great position to capitalize on not only the global cannabis industry but the burgeoning psychedelic medicine market as well. With the company’s merger with Red Light Holland slated to close in Q3 of this year, Creso is on the verge of becoming a very serious player in the psychedelics sector. Commenting on the Halucenex deal’s close, Creso Pharma Non-Executive Chairman Adam Blumenthal stated: “Completing the acquisition of Halucenex is a major milestone for Creso Pharma, and we will now pursue a number of near-term value creation strategies through the subsidiary and in preparation of the proposed merger with Red Light Holland. This acquisition has allowed Creso Pharma to emerge as a best-in-class provider of cannabis, cannabinoids and alternative psychedelics solutions to meet a large and unmet demand to improve mental health and wellbeing. We look forward to leveraging Halucenex’s expertise in this space to progress the proposed phase II clinical trial while simultaneously exploring opportunities with Red Light Holland, which will leave all parties well-positioned to capitalize on another lucrative vertical.” Following the completion of the Halucenex acquisition, here’s what Creso Pharma’s group structure looks like now:

Source: Creso Pharma

Trending: Creso Pharma to Merge With Psychedelics Leader Red Light Holland, Combined Company Set to Become a Cannabis and Psychedelics Industry Juggernaut One of Halucenex’s main goals is to become a clinical drug pipeline provider. Currently, the company is focused on moving forward with clinical trials to assess the safety and efficacy of PAP using psilocybin to treat mental illness. In addition, Halucenex also plans to progress its complementary business strategies, which include R&D to produce novel proprietary formulations of psychedelic compounds and explore the interactions between natural and synthetic psilocybin derivatives to accumulate intellectual property on the entourage effects of naturally sourced psilocybin. “We are very excited to become part of the Creso Pharma group, particularly at an exciting stage of the Company’s growth. Halucenex has undertaken a strategic and measured approach to date, and we are confident that with the resources Creso Pharma can provide, we will be able to expedite our clinical trial and potential product development strategies, which will unlock significant value for shareholders. Importantly, Halucenex continues to track very well from an operational standpoint. Recent USP 61 results have highlighted that our GMP grade psilocybin is now validated ahead of a clinical trial. We expect USP 62 testing to be finalized before the end of the month, which will allow us to take another step towards the commencement of our phase II clinical trial,” added Halucenex Life Sciences Founder & CEO Bill Fleming. Creso Pharma and Red Light Holland also plan to work together to explore additional business opportunities via Halucenex. As the pending merger moves closer towards closing, the two companies intend to leverage the substantial pharmaceutical expertise of both the Creso and Halucenex management teams to help with the continuous expansion and updating of Red Light Holland’s iMicrodose app. The iMicrodose app provides users interested in microdosing with important insights, scientific tools, expert knowledge and a supportive community. The possibility of introducing psychedelic-assisted therapy retreats in legally permissible locations is also being explored. Linton Set to Chair The HighBrid Lab On Tuesday, Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced that Bruce Linton, cannabis industry legend and early psychedelics industry investor and advisor to MindMed (NEO: MMED) (NASDAQ: MNMD) (FRA: MMQ), has confirmed that he will join The HighBrid Lab team as the company’s Chairman of the Board. Subject to shareholder approval and the closing of the Creso Pharma Red Light Holland (CSE: TRIP) (OTC: TRUFF) (FRA: 4YX) merger, the founder and former CEO of cannabis industry behemoth Canopy Growth (TSX: WEED) (NASDAQ: CGC) (FRA: 11L1) will provide the new combined entity with a wealth of experience as well as provide the company with access to his invaluable deal-making and financing Rolodex. During his tenure as Canopy’s CEO, Linton was instrumental in overseeing the company’s incredible growth, which saw it rise to become the industry’s largest firm. Along the way, Linton completed 31 acquisitions and led 16 financing rounds, raising a total of USD $6 billion, including $5 billion from alcohol giant Constellation Brands (NYSE: STZ) (FRA: CB1A). Bruce Linton, the incoming Chairman of The HighBrid Lab, commented: “I’m really excited about the opportunity to work even more closely with The HighBrid Lab upon closing of the Creso Pharma and Red Light Holland merger. The combined company has tremendous optionality to capitalize on several high growth, nascent verticals. Additionally, having worked with key team members in the past, I’m confident that the HighBrid Lab’s prospects for growth through both decisive M&A and organic growth is extremely exciting.” “We are very excited to have Bruce commit to his position as Chairman of The HighBrid Lab. Bruce has extensive expertise in the cannabis and psychedelic areas, as well as an unparalleled network, which will be imperative in the combined company’s growth trajectory. We continue to work closely with Red Light Holland’s management team to gain a strong understanding of Red Light Holland’s operations, as well as additional synergies between the businesses. We anticipate that further developments across product development and sales channels will be made in the coming months, which will unlock further value for our shareholders,” added Creso Pharma Non-Executive Chairman Adam Blumenthal. Key Merger Details Upon closing, Red Light Holland will acquire all of Creso Pharma’s issued and outstanding shares and listed options. In exchange, Creso Pharma shareholders will receive 0.395 Red Light Holland common shares for each CPH share held. Creso option holders will receive 0.257 Red Light Holland shares for each CPH option held. Once completed, it is projected that Creso shareholders will own roughly 57.4% of the pro forma issued and outstanding Red Light Holland shares. Due to this, the deal will technically be classified as a reverse takeover of Red Light Holland by Creso Pharma shareholders. Once the transaction is complete, the resulting combined entity, The HighBrid Lab, is expected to have $45 million in cash on hand, putting the company in an excellent position to implement its growth strategy. Assuming the deal closes, The HighBrid Lab will trade under the ticker symbols that Red Light Holland currently trades under. See ticker symbols and due diligence links below. Learn More About the Pending Creso Pharma + Red Light Holland Merger By Accessing the New CPH x TRIP =  The HighBrid Lab Investor Presentation HERE

Source: StockCharts.com

Learn more about Creso Pharma: Website | IR Website | Investor Deck | CPH Chart Learn more about Red Light Holland: Website | IR Website | Investor Deck | TRIP Chart Trending: Creso Pharma: A Global Cannabis Powerhouse in the Making

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The post Creso Pharma Closes Halucenex Psychedelics Acquisition, Bruce Linton to Become Chairman of The HighBrid Lab appeared first on The Cannabis Investor.

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