Ei Ventures has executed a definitive agreement with Mycotopia bringing the two entities together under PSLY.com as the companies move forward with their plan of uplisting to the NASDAQ stock exchange.
Ei shareholders will receive shares in PSLY.com based upon a valuation of $360 Million at the close of the transaction. Mycotopia shareholders will receive shares in PSLY.com based upon a valuation of more than $23 million at the close of the transaction.
EI.Ventures is a subsidiary of Orthogonal Thinker that is currently raising $50 million. Though scant on details, the company is developing Psilly (whole-plant botanical psilocybin-based formulation) and has (presumably) launched a consumer non-psychedelic mushroom brand 'Mana'.
Mycotopia are researching and developing psychedelic therapies for mental disorders including; anxiety, depression, bipolar disorders, PTSD, ADHD, autism and addictions.