DLA Piper has advised cannabis manufacturer Althea on the acquisition of Canadian extraction company Peak Processing Solutions.
Firm: DLA Piper (Althea Group Holdings Ltd)
Deal: Global firm DLA Piper has advised ASX-listed Althea Group Holdings Ltd on the acquisition of Canadian extraction and contract of Peak Processing Solutions.
Key players: The DLA Piper cross-border team was led by partner Chris Mitchell, with assistance from senior associates Dylan Burke and Simone Lim, with solicitors Chanel Mercurio and Tara Alexander.
The Australian team was supported by Canadian partner Robert Fonn, Ilia Danef and Kevin Fritz, as well as counsel Nicole Kapos and associate Christopher Pejovic.
Deal significance: Althea is currently operational within the highly regulated medicinal cannabis market in Australia and the UK, with plans to expand throughout Asia and Europe. Peak Processing Solutions specialises in extraction, toll processing and contract manufacturing of cannabis-infused edibles and drinks.
The DLA Piper team assisted Althea with all aspects of the transaction. One of which was advising on Althea’s oversubscribed $30 million share placement and negotiating a suite of cross-border acquisition documentation.