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Entheon Biomedical Corp. (CSE: ENBI) (OTCQB: ENTBF) has announced a binding letter of intent to acquire Mentis AI, a private R&D company focused on AI technologies for mental health and loneliness solutions. The acquisition will provide Entheon with AI companions and coaching tools to enhance their existing HaluGen's Psychedelics and Lobo's Cannabis Genetic Test Kit services.
The transaction will be structured as a share exchange, with Mentis AI shareholders receiving 12.84296 Entheon shares for each Mentis AI share, totaling approximately 11 million Entheon shares. Post-transaction, Mentis AI shareholders will own about 44.25% of Entheon's outstanding shares. The deal must be completed by February 28, 2025, subject to due diligence, definitive agreement execution, and regulatory approvals.
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