Cannabis company Creso Pharma Limited is merging with psychedelic treatment company Red Light Holland Corp. to create The HighBrid Lab. The transaction is a reverse takeover of Red Light Holland by Creso Pharma giving Red Light shareholders a 29% premium for their shares. Creso shareholders will own 57% of the new company. The combined company will use the symbol TRIP. The new company is expected to have a cash balance of approximately C$45 million (A$48 million), providing considerable financial flexibility to progress its growth strategy. Red Light Holland’s current Chief Executive Officer, Todd Shapiro, will lead HighBrid as CEO and Director.

Green Market Report, 06/16/2021 08:45:00

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