PsiloTec Health Solutions Inc. cancelled the acquisition of Michichi Capital Corp. in a reverse merger transaction.
At closing, the board of directors of the Resulting Issuer will include Jeff McCaig, a current member of the board of directors of Michichi, and certain nominees put forth by PsiloTec. The nominees of PsiloTec are expected to include Peter Silverstone, Murray Weimer and James Mish, with certain further nominees to be put forth by PsiloTec prior to closing. Upon completion of the transaction, it is expected that the management team of the Resulting Issuer will consist of the following individuals: Peter Silverstone Chief Executive Officer; Louise M. Duchesne Chief Financial Officer; Scott Phillips Chief Operating Officer; Rutger Engels Chief Scientific Officer; Adam Darbellay, MPAcc Strategic Financial Consultant; Scott W.N. Clarke Corporate Secretary; Matthew Brown Vice President Technology; James Scott Vice President Mycology; Robert Rogers Lead Mycology Research and Formulation; and Tradd Cotter Advisor, Mycology Enhancement. The transaction is subject to approval by the boards of directors and shareholders of each of PsiloTec and Michichi; receipt of all required regulatory and third party approvals, including TSXV approval, and compliance with all applicable regulatory requirements and conditions necessary to complete the proposed transaction; the satisfactory completion of due diligence by both Michichi and PsiloTec; and the negotiation and execution of a definitive agreement in respect of the transaction.
PsiloTec Health Solutions Inc. cancelled the acquisition of Michichi Capital Corp. in a reverse merger transaction on January 13, 2023.