Skye Bioscience Signs Arrangement Agreement with Emerald Health Therapeutics Arrangement is expected to fund Skye’s proprietary synthetic cannabinoid- derivative therapeutic initially targeting glaucoma for first Phase 2 clinical study planned to...Skye Bioscience Signs Arrangement Agreement • May 12th, 2022 • Skye Bioscience, Inc. • Pharmaceutical preparations
San Diego, California, May 12, 2022 -- Skye Bioscience, Inc. (OTCQB: SKYE) (“Skye”) and Emerald Health Therapeutics, Inc. (CSE: EMH; OTCQB: EMHTF) (“Emerald”) announced today that the companies have entered into a definitive agreement with respect to a transaction to be completed by way of a Plan of Arrangement (the “Arrangement”) whereby Skye would acquire all of the issued and outstanding shares of Emerald in a share-for-share-transaction. Skye is a San Diego-based pharmaceutical company developing proprietary, synthetic cannabinoid derivatives to treat glaucoma and other diseases with significant unmet needs. Emerald possesses cash and non-cash assets that Skye would acquire through the Arrangement. The proposed Arrangement is subject to approval by each company’s common stockholders and by the Supreme Court of British Columbia, Canada.
