Entheon Biomedical Corp. Acquires Lobo Genetics Inc.

CANNANNEW REPORT

Genetic Screening Platform Technology and Data to Strengthen Entheon’s Psychedelic-Assisted Protocols   Vancouver, British Columbia–(Newsfile Corp. – July 30, 2021) – Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) (FSE: 1XU1) (“Entheon” or the “Company“) is pleased to announce that the Company completed its acquisition of Lobo Genetics Inc. (“Lobo“), a personalized genetics company with a direct-to-consumer platform currently being used in both the psychedelics and cannabis spaces to provide personalized insights into an individual’s response to hallucinogenic and psychoactive drugs.   Further to the Company’s news release dated June 16, 2021 (the “Initial News Release“), Entheon closed the amalgamation agreement dated June 15, 2021 (the “Agreement“) with Lobo and 13089363 Canada Inc. (“Subco“), a wholly-owned subsidiary of Entheon, whereby Subco and Lobo amalgamated by way of a “three-cornered” amalgamation in accordance with the Canada Business Corporations Act to form one corporation, continuing under the name “Lobo Genetics Inc.”, as a wholly owned subsidiary of the Company (the “Transaction“).   The Transaction Pursuant to the Agreement, the Company issued an aggregate of 5,000,000 common shares in the capital of the Company (the “Consideration Shares“) to the former Lobo shareholders. In addition, Entheon issued an aggregate of 9,603 incentive stock options (the “Replacement Options“) to the holders of the outstanding stock options of Lobo (the “Lobo Stock Options“) in exchange for the cancellation of the Lobo Stock Options, and all outstanding common share purchase warrants in the capital of the Lobo were cancelled. For more information about the Consideration Shares and the Replacement Options, please see the Initial News Release.   The Company also entered into an advisory agreement with John Lem, founder and former Chief Executive Officer of Lobo, to serve as a strategic advisor of industry affairs on Entheon’s advisory board. In connection with his appointment, the Company granted to Mr. Lem an…

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Source : Entheon Biomedical Corp. Acquires Lobo Genetics Inc.

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