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Form 424B3 SmartKem, Inc.

Form SC 14F1 Patricia Acquisition Filed by: Patricia Acquisition Corp.

Manchester tech firm completes reverse takeover and raises $24.6million

SmartKem, Inc. Raises $24.6 Million and Completes Reverse Acquisition

Share this article Share this article MANCHESTER, England, Feb. 24, 2021 /PRNewswire/  SmartKem, Inc. (the Company), a pioneer in the development of materials and processes used to make organic semiconductor materials for the manufacture of flexible electronics, today announced the closing of a $24.6 million private placement financing.  Prior to the financing, SmartKem Limited (SmartKem) completed a reverse acquisition transaction with Parasol Investments Corporation (Parasol), a public Delaware corporation, whereby SmartKem became a wholly owned subsidiary of Parasol.  Following the acquisition, Parasol changed its name to SmartKem, Inc. and will continue the historic business of SmartKem. The directors of SmartKem, Ian Jenks, Robert Bahns, Dr. Simon King, Klaas de Boer and Barbra Keck, have become the directors of the Company. Ian Jenks has become the Chief Executive Officer of the Company and Robert Bahns has become the Chief Financial Officer of the Company.