Plus Products Inc., a leading California edibles brand, completed the sale of its wholly-owned subsidiary to Glass House Brands for approximately US $25.6 million in proceedings under the Companies’ Creditors Arrangement Act (Canada). Glass House Brands acquired the target subsidiary through a combination of unsecured convertible debt and equity, plus additional performance-based consideration.
Fasken advised Plus Products Inc. with a team led by Mike M. Stephens (Mergers & Acquisitions, Securities) and included Kibben Jackson (Insolvency & Restructuring), Glen Nesbitt (Insolvency & Restructuring) and Martin Ferreira Pinho (Mergers & Acquisitions).Jurisdiction
- British Columbia