Ameri holdings to merge with Jay Pharma

Ameri Holdings, Inc. has entered into an amalgamation agreement with Jay Pharma Inc., a Canadian company dedicated to developing innovative, evidence-based cannabinoid products, and combination therapies to address unmet needs in cancer care, pursuant to which the shareholders of Jay Pharma will become the majority holders of Ameri’s outstanding stock by way of an amalgamation. In connection with the amalgamation, Ameri will spin-off its existing IT services business to a private entity, founded by Ameri management in partnership with Ameri’s current Series A preferred equity holders. The transactions are expected to close in the first half of 2020.