trending Market Intelligence /marketintelligence/en/news-insights/trending/c-wGtZqNTI3y6od8evriSA2 content esgSubNav
In This List

Althea completes acquisition of Peak Processing Solutions

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Althea completes acquisition of Peak Processing Solutions

Althea Group Holdings Ltd. completed its acquisition of Canadian cannabis products manufacturer Peak Processing Solutions for C$4.1 million in cash and 6,833,839 shares.

Under the deal, Australian medical cannabis supplier Althea issued 5,502,455 shares to Gregg Battersby, a former director of Peak, and 1,331,384 shares to eight employee shareholders of Peak.

Battersby and the employee shareholders are also eligible for a further 19,018,007 shares, subject to certain performance targets.

Completion of the transaction was preceded by Althea raising A$30 million from new and existing institutional investors. The capital was raised to fund the cash portion of the acquisition.

Tecumseh, Ontario-based Peak was started by several former employees of Althea and focuses on cannabis-infused edibles, drinks and other products in the Canadian cannabis market.