SciSparc: AutoMax's Shareholders Approve Merger with SciSparc

Group 1 - SciSparc Ltd. announced the approval of a merger with AutoMax Motors Ltd., enhancing its operations into the automotive sector [1][2] - The merger will result in SciSparc acquiring 100% of AutoMax's share capital through a reverse merger, with SciSparc shareholders expected to hold approximately 50.01% of the combined company's share capital [2][3] - The merger aligns with SciSparc's long-term strategy to diversify its portfolio and capitalize on the expanding electric vehicle market in Israel [3] Group 2 - SciSparc has provided financial support to AutoMax, including a $4.25 million bridge loan in 2024 and an additional $2 million loan in February 2025 [3] - The closing of the merger is subject to customary closing conditions, including approval from the Israeli court [3] - SciSparc is a specialty clinical-stage pharmaceutical company focused on cannabinoid pharmaceuticals, with ongoing drug development programs targeting various disorders [4]