Psychedelic media company Delic Holdings Inc. (OTCQB: DELCF) has acquired mushroom kit maker and media company Homestead brands in an all-stock deal. DELIC issued subordinate voting shares worth $50,000 and 50,000 incentive stock options were also granted to Homestead founder David Tatelman, with an exercise price of $0.58. David Tatelman will act as a consultant to the company.
Homestead is a legacy counterculture distributor of psychedelic media and creator of one of the first self-contained mushroom grow kits.
Matt Stang, Founder, and CEO of DELIC said, “The acquisition of Homestead is an exciting one for us at DELIC. It shows how we are increasing accessibility to this nascent industry within regulated jurisdictions. Homestead not only sold tens of thousands of mushroom kits globally but also was one of the earliest distributors for High Times and many other counter-culture publications. We look forward to growing together and increasing shareholder value with what we accomplish.”
DELIC said the Homestead acquisition would allow the company to increase its product offering on its website Reality Sandwich (realitysandwich.com). Through Homestead’s extensive intellectual property and heritage brand, Delic anticipates reviving the at-home EZ Grow experience targeted at the Reality Sandwich consumer. Including the EZ Grow product suite, DELIC said it intends to increase e-commerce sales and activity by offering other high-demand products to our online viewers and consumers.
The company said that a product launch is expected this March, and the new mushroom kit will have a modern interpretation of the company’s history and will include everything a consumer needs to be an at-home mycologist – pre-sterilized and as easy as mixing the core ingredients provided. In addition to the mushroom kit, consumers will also be able to purchase other complementary products to the kit to enhance their experiences and to become better mycologists. Delic aims to be a leader in the at-home cultivation movement.
Recently, DELIC announced the execution of a definitive share purchase agreement to acquire Complex Biotech Discovery Ventures and a binding letter agreement to acquire Ketamine Infusion Clinics. The addition of Homestead further showcases to our stakeholders the unique ability DELIC has to be able to acquire strong brick and mortar and online businesses in the psychedelic sector as well as bring continued value to the company’s investors.