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Skye Bioscience signs arrangement agreement to acquire Emerald Health Therapeutics in a share-for-share transaction

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Skye Bioscience Inc

On May 11, 2022, Skye Bioscience signed a definitive agreement with Emerald Health Therapeutics with respect to a transaction to be completed by way of a Plan of Arrangement whereby Skye Bioscience would acquire all of the issued and outstanding shares of Emerald Health Therapeutics in a share-for-share-transaction.

As a result of the arrangement, current Skye Bioscience stockholders would own approximately 54% of the common stock of Skye Bioscience and former shareholders of Emerald Health Therapeutics would own approximately 46% of Skye Bioscience’s common stock.

The completion of the Plan of Arrangement is subject to customary terms and conditions, including acceptance by the Canadian Securities Exchange (the “CSE”) of Skye Bioscience’s listing on the CSE.

Fasken acted for Skye Bioscience in connection with a team comprised of Neil Kravitz, Monica Dingle, Alexandra Freedman and Aurélie Ménard (Capital Markets & M&A), Barbara Miller and Mark Vanderveken (Cannabis & Regulatory), Rhonda Grintuch, Cynthia Bachaalani, Marc Rodrigue and Florence Gauthier (Employment), Sergio Custodio and Lucky Johal (Real Estate), Ryan Rabinovitch (Tax).


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