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Key Takeaways from Bringing RYAH Group Inc to the CSE

On May,4th 2021, RYAH Group went live on the Canadian Stock Exchange (CSE) under the ticker symbol RYAH. RYAH’s journey started a year and a half ago and required navigating several unpredictable twists and turns. Resilience, patience, and strategic thinking helped pull the company through to the finish line.

One of the curveballs came from the ongoing global pandemic. It turns out that navigating a reverse takeover merger (RTO) and CSE listing during COVID-19 would slow the process down. However, it also led to many valuable lessons. 

If anything, the pandemic has crystalized the value of IoT and data analytics for the future of medicine. Over the last 18 months, RYAH learned the importance of an experienced legal and accounting team, staying the course during unpredictable times, and strategic pivoting when needed. 

The Reverse Takeover Merger Affected by COVID-19

RYAH announced its intention on June 27, 2019, to enter into a binding, definitive agreement with Prime Blockchain Inc. under a standard RTO agreement. The primary goal of this merger was to prepare RYAH for an eventual CSE listing, and it represented an important milestone for a future presence within capital markets.

Normally, when the world isn’t grappling with a pandemic, RTOs take about six months to complete. However, for RYAH, it became a grueling 18-month marathon to reach the finish line. 

One of the major speed bumps on the path to the listing this spring was the COVID-19 pandemic. As was the case for many other sectors, COVID-19 threw a loop into product distribution flows and impacted most capital markets. Nobody could have predicted many of the continued effects of this pandemic and the ongoing uncertainties on the global markets.

Due to these unforeseen impacts throughout 2020, the six-month prediction for completing the Prime Blockchain RTO ended up taking the company well into 2020—a test of patience for the team but one to which they successfully adapted. On April 26, 2021, RYAH finally completed the takeover and prepared for the CSE.

According to Gregory Wagner, CEO of RYAH Group Inc, one of the key takeaways from this process was the importance of their legal team. He explained, “We learned the importance of strong legal support in each jurisdiction, and we learned that selecting a proper transfer agent that respects the change of control post-RTO is very valuable.”

Building a Team of Experts Critical to RYAH’s Success

Over the sometimes challenging journey of bringing RYAH to market, the company relied heavily on a team of international legal experts. In particular, the expertise provided by RYAH’s American counsel Ruskin Moscou Faltischek, PC, and Garfinkle Biderman LLP in Canada proved invaluable.

Spanning the US-Canada border, this team was “critical in protecting the Company and shareholder’s interest throughout the RTO process,” according to Wagner. Without them, the successful completion of the RTO in the interests of the shareholders would never have been possible. With the additional complexities compounded from navigating a new world of COVID-19, having incredible legal counsel in both the US and Canada was paramount. 

RYAH also relied heavily on the knowledge and guidance of CFO Squad LLC for navigating the financial reporting and general accounting needs during the entire RTO process. 

Opportunities Presented by COVID-19

One of the major discoveries in 2020 was the value of remote medicine. Telehealth became the go-to for millions of people around the world, as in-person appointments quickly went online. 

Like most other businesses, RYAH was not immune to challenges posed by COVID-19. However, its mandate suddenly became more important than ever before. In Wagner’s words, “The COVID crisis taught us the value of telehealth and remote medicine administration, and it was during the crisis, we found our niche.”

The need for a suite of IoT devices providing users, physicians, and clinicians with the ability to accurately measure, control, and dose plant medicines became clear. It was an unexpected but welcome outcome from the many years and thousands of hours spent developing the RYAH Patch, Inhaler, and Pen.

With the future of medicine looking a lot different in a post-pandemic world, RYAH’s data analytics and dose control technology takes on an entirely new importance, one the company is now leaning into. Wagner explained, “We realized that our remote-dosing IoT devices and data analytics were the right fit in this new paradigm.”

A Powerful and Unexpected Journey

As Wagner details, the last two years may have come with many unpredictable challenges, but they also came with unexpected lessons and opportunities. Taking RYAH Group Inc. to the CSE through an RTO took longer than expected. Still, with the rise of telemedicine and remote medicine administration, RYAH’s value is more apparent than ever before.

With trading officially underway, what does the future hold? In Wagner’s words, “We are very pleased to open our capitalization table to the public domain for our shareholders of RYAH Group and the RTO partner. This CSE listing is just a step in a longer-term strategy to up-list to markets in the UK, Europe, and in the USA.”

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