Pharmadrug Dives Into Psychedelics, Buys Super Smart

Pharmadrug Inc. BUZZ LMLLF has agreed to acquire Super Smart, a Netherlands startup geared toward psychedelics.

Terms of the deal were not disclosed.

Toronto-based Pharmadrug announced Wednesday it has entered into a non-binding letter of intent with Interrobang Ltd., which does business as Super Smart, to buy 100% of the company's issued and outstanding common shares.

The goal its to grow Pharmadrug's existing business — which is focused on cannabis distribution — into the burgeoning psychedelics, or "magic mushrooms," space.

The LOI will be replaced by a final agreement between Pharmadrug and Super Smart and will be subject to shareholder and regulatory approvals.

Super Smart is under the helm of CEO Harry Resin, a former writer for High Times. Joshua Kasakevich is the company's COO, focusing on corporate strategy, branding, advertising and retail sales.

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