ASX trading in The Sustainable Nutrition Group (TSN) will be suspended at the close of market today following Federal Court approval of Elixinol's acquisition of the company.
TSN shareholders voted in favour of the deal last week, clearing the path for the court orders and subsequent lodgment with the Australian Securities and Investment Commission (ASIC).
Elixinol announced its plan to take over TSN last November, with chief executive Ron Dufficy saying the combined strengths of the businesses will create a "leading global plant-based food, health and wellness company".
The deal will expand Elixinol's Australian distribution network from 2,300 to 4,100 locations and deliver "substantial cross-sell opportunities for EXL and TSN brands", he added.
Elixinol recorded customer receipts of $3.6m in the six months to June, while TSN posted receipts of $3.85m over the 12 months to June.
Emyria
Emyria is set to introduce a ketamine-assisted therapy program (KAT) at its recently acquired Pax Centre, where it will operate alongside existing MDMA and psilocybin programs.
The program will be led by Dr Ben Sessa, one of the UK's most prominent figures in psychedelic research, who has been appointed chief scientific officer.
Emyria said ketamine has been identified as a breakthrough treatment for severe depression.
Dr Sessa will design protocols specific to Emyria that bring together ketamine and integrative psychotherapy to address a range of mental health challenges.
Because KAT will use generic ketamine, patients are expected to face out-of-pocket costs of just $5 per dose, Emyria said.
