Lucy Scientific Discovery to Acquire BlueSky Wellness in All-Stock Transaction
LOS ANGELES, CA - (NewMediaWire) - September 13, 2023 - (InvestorBrandNetwork via NewMediaWire) - IBN, a multifaceted financial news, content creation and publishing company, is utilized by both public and private companies to optimize investor awareness and recognition.
Lucy Scientific Discovery (NASDAQ: LSDI) is the leader in the psychotropic industry, which recently celebrated the acquisition of the intellectual property of High Times, the most iconic brand in the cannabis industry. Today the company announced an agreement to acquire BlueSky Wellness Inc. and its portfolio of brands, expanding Lucy's footprint into the growing global wellness category by adding psychotropic products to its capabilities. BlueSky Wellness is a portfolio of plant-based brands including Keoni, Keoni Sport, Blush Wellness and AMMA Healing. It has generated over $20 million in each of the last two years through its e-commerce brands that are well positioned with a collection of products ranging from full-spectrum oils to edible goods that complement High Times' products and platforms.
"The addition of the BlueSky portfolio and its team allows us to capitalize on revenue opportunities," Richard Nanula, CEO of Lucy Scientific Discovery, said in the press release. "Coupled with our High Times acquisition, this strategically positions us for substantial near and long-term growth. This acquisition is a testament to our commitment to expand and grow our business, adding revenue that diversifies our company and should deliver significant value to our Lucy Scientific shareholders."
To view the full press release, visit https://cnw.fm/JMved
About Lucy Scientific Discovery Inc.
Lucy Scientific Discovery is a Nasdaq-listed company with holdings and operations in a variety of psychotropic businesses. The company holds a Controlled Drugs and Substances Dealer's License granted by Health Canada's Office of Controlled Substances. Lucy Scientific Discovery Inc. and its wholly owned subsidiary, LSDI Manufacturing Inc., operate under Part J of the Food and Drug Regulations promulgated under the Food and Drugs Act (Canada). This specialized license authorizes LSDI to develop, sell, deliver, and manufacture pharmaceutical-grade active pharmaceutical ingredients ("APIs") used in controlled substances and their raw material precursors. With a focus on pioneering innovative therapies for patients in need, Lucy Scientific Discovery Inc. is dedicated to advancing the understanding and applications of psychotropic medicines, improving mental health outcomes, and enhancing well-being for individuals worldwide.
NOTE TO INVESTORS: The latest news and updates relating to LSDI are available in the company's newsroom at https://cnw.fm/LSDI
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