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

 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