Little Green Pharma (ASX:LGP) signed a binding sale and purchase agreement to acquire HHI (Australia), owner of the Health House medicinal cannabis distribution business, for AU$375,000, according to a Wednesday filing with the Australian bourse.
The company will absorb Health House's estimated AU$350,000 net liability position once the deal is completed.
Health House's ultimate parent company, Melodiol Global Health, had listed the business for sale at AU$10.9 million in September 2024.
The acquisition is expected to close Wednesday, the filing said.
The ASX-listed medicinal cannabis company's shares rose nearly 5% in recent Wednesday trade.
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