Canadian drug development company Lucy Scientific Discovery Inc. (NASDAQ: LSDI) is set to acquire e-commerce platform and plant-based wellness brands company BlueSky Wellness Inc. toward further entering the global wellness market with novel psychotropic products. 

Last week, Lucy announced it was acquiring High Times Holding's IP, effectively enabling the iconic cannabis industry brand to trade on the Nasdaq. 

For that transaction, Lucy exchanged 19.9% of its publicly traded shares. Following the new deal with BlueSky, its shareholders would receive 3.5 million shares of Lucy's stock plus annual earn-out payments based on a multiple of annual EBITDA in each of the next five years. 

See also: Breaking: High Times To Go Public Via Deal With Nasdaq-Listed Lucy Scientific

The new acquisition would be completed within the next 90 days. At that time, the BlueSky team will market Lucy’s MINDFUL brand as well as several psychotropic products …

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