Publicly traded Pharmadrug (CSE: BUZZ)(OTC: LMLLF) entered into a non-binding LOI to acquire 100% of Super Smart, on May 20, 2020. The German operating company, Pharmadrug, says the acquisition of “Super Smart” will help them expand their cannabis distribution throughout The Netherlands.
While the purchase of Super Smart may help their cannabis operations, Super Smart also creates an opportunity to consolidate the fragmented Dutch smartshop market. Smartshops are retail locations that sell psychedelic mushrooms, which are legal in The Netherlands.
This would position Pharmadrug operations across Europe as a vertically integrated chain of distribution and retail for the cannabis industry as well as the growing psychedelic substances industry.
Pharmadrug was established in 1982 and is a German EU-GMP-approved pharmaceutical distribution company with a Class I Narcotics license. This license authorizes the company to import and distribute medical cannabis to pharmacies in Germany and the rest of the Eurozone as markets become legalized.