Publicly traded cannabis company Mota Ventures Corp. (CSE: MOTA, OTC:PEMTF) has entered into a letter of intent to purchase the company Verrian, which includes a pharmaceutical manufacturing facility in Radebuel, Germany.

Verrian, which is the current owner of the facility, is focused on validating promising pre-clinical evidence for treatment of addiction through natural psychedelics.

The transaction would include Mota Ventures Corp. acquiring all outstanding shares of Verrian for $21,100,000CDN, and position Mota as a major player in the growing psychedelics industry.