HomeMarket NewsMicro Cap StocksMoving Closer To Cybin Acquisition, Small Pharma Obtains Final Order Approving Arrangement

Moving Closer To Cybin Acquisition, Small Pharma Obtains Final Order Approving Arrangement

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Small Pharma Inc. (DMTTF), a biotech company specializing in short-acting psychedelics, has just received final approval from the Supreme Court of British Columbia for its planned acquisition by clinical-stage biotech firm Cybin Inc. (CYBN). This arrangement, set to be executed as an all-share transaction, has been given the green light under Division 5 of Part 9 of BCโ€™s Business Corporations Act.

With the final order in hand, as well as the necessary confirmations from both companiesโ€™ shareholders, the completion of the acquisition is imminent โ€“ subject to the satisfaction or waiver of customary closing conditions, including the final approval of the TSX Venture Exchange, where Small Pharma is traded. It is anticipated that the arrangement will officially close on or around October 23, 2023.

Once the acquisition is finalized, Small Pharmaโ€™s common shares will be delisted from the TSXV and removed from the OTCQB Venture Market. Consequently, the company will cease to be a reporting issuer in Canada.

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Photo: Benzinga edit with photo by Zita and Canadastock on Shutterstock.

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