Phivida Holdings completes acquisition of

2 minute read
29 May 2019

On May 29, 2019, Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) closed its previously announced acquisition of Canadian e-commerce technology firm, Inc.

Under the transaction, Phivida acquired all of the issued and outstanding common shares of Wikala in return for common shares of Phivida. The consideration payable represented a total transaction value of $22.5 million.

Phivida is headquartered in Vancouver, British Columbia with operations in San Diego, California. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients. The company infuses active hemp extract/CBD into a variety of premium beverages and personal care products for everyday health. Inc. is headquartered in Toronto, Ontario with operations in Belgrade, Serbia. The Wikala core team includes e-commerce professionals with decades of combined experience in online marketing, content creation and e-commerce sales. Wikala has successfully become a major content player in the cannabis sector.

Gowling WLG advised Phivida in this acquisition with a team that included Peter Simeon and Jacob Cawker (corporate/M&A), Emily Dies (technology) and Andrew Bratt (employment).

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.