Silo Wellness (OTCQB: SILFF) has confirmed its intention to acquire all issued and outstanding securities of NUGL Inc./Kaya Group (OTC Pink: NUGL) in an arms-length transaction valued at $31.9 (CA$43.3) million.
The news comes shortly after Cybin's (NYSE: CYBN) proposed acquisition of Small Pharma (OTCMKTS: DMTTF), and was somewhat anticipated by Silo NUGL's recent business partnership.
The number reflects the combined market cap of both companies, NUGL shares valued at $0.0344 and Silo’s at $0.0147 currently (they have both entered into a trading halt as of today.)
Silo, founded in 2018 in Oregon by trial lawyer and entrepreneur Mike Arnold, offers psilocybin wellness retreats currently in Jamaica and soon in …