Mycotopia & Ei.Ventures Sign LOI To Explore Merger & Formation Of PSLY.COM To Develop Plant-Derived Psychoactive Therapies

Mycotopia Therapies Inc., which is researching and developing medical psychedelics, entered into a letter of intent regarding a potential acquisition of Ei.Ventures, which is developing a whole-plant botanical psilocybin-based formulation called Psilly. The formulation is in the pre-clinical phase of development. The parties expect any transaction would close in the first quarter of 2022. When a definitive agreement is reached, the combined companies intend to pool their resources to develop regulatory approved, plant-derived, psychoactive therapeutic treatment options and non-psychoactive nutritional supplements and related products that address global mental health care needs.

At closing David . . .