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16 May 20221 minute read

DLA Piper Canada advised PODA on multiparty sale of intellectual property assets for US $100.5 million

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.‎

Read more about this transaction here.

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.