Diamond RTOHere's an update from the WSJ --> I wonder when the "transaction" will close?
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TORONTO, ON / ACCESSWIRE / February 4, 2021 / GHP Noetic Science-Psychedelic Pharma Inc. (TSXV:PSYF.P) ("GHP"), a capital pool company, and Diamond Therapeutics Inc. ("Diamond"), a psychedelic drug development company focused on low-dose therapies for mental health, are pleased to announce the signing of a letter of intent dated effective February 2, 2021 (the "LOI"). The LOI sets out the general terms and conditions pursuant to which GHP has agreed to acquire all of the issued and outstanding securities of Diamond in exchange for securities of GHP (the "Transaction").
The Transaction will result in a reverse take-over of GHP by Diamond and will constitute GHP's "Qualifying Transaction" as defined in the policies of the TSX Venture Exchange (the "Exchange"). GHP and Diamond are at arm's length and the Transaction will not be a non-arm's length transaction under the policies of the Exchange. On closing of the Transaction (the "Closing"), it is expected that the Resulting Issuer (as defined below), will be listed as a Tier 2 Industrial Issuer on the Exchange, and its business will be that of Diamond.
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