Cannabis Firm Plans South Africa IPO, Magic Mushroom Expansion
South Africa’s first cannabis company is shifting to psilocybin, which shouldn’t be a surprise given its name – Cilo Cybin Pharmaceutical Ltd.
The company recently applied for a research permit to study psilocybin for depression, anxiety, and PTSD. “I really think it is going to be a lot bigger than cannabis even,” said the CEO.
He plans to take the company public on the Johannesburg and Luxembourg Stock Exchanges within the next 12 months.