On May 13, 2022, PODA Holdings, Inc. (“PODA”) (CSE: PODA) announced that it had agreed to sell all of its intellectual property assets to tobacco conglomerate Altria Group for US$100.5 million.
PODA developed a multi-substrate heated capsule technology that uses proprietary biodegradable single-use capsules, which are both consumer and environmentally friendly. The innovative design of the technology prevents cross-contamination between the heating devices and the capsules which eliminates cleaning requirements and provides users with a convenient and enjoyable experience. PODA’s technology is fully patented in Canada and is patent pending in over 60 additional countries, covering almost 70% of the global population.
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DLA Piper Canada acted as legal advisors for PODA in the sale, with a transaction team led by Partner Denis G. Silva and which included Campbell Fitch, Sydney Kert, Kevin Fritz, Ryan Black, Ben Kaardal and Morgan McDonald.
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