Poda Completes Asset Sale to Altria

Poda Holdings has completed the sale of substantially all of the assets and properties used in the company’s business to Altria Client Services for a total purchase price of $100.5 million, subject to certain adjustments and holdbacks, pursuant to a definitive agreement dated May 13, 2022.

Pursuant to the Asset Purchase Agreement, Poda will change its name to Idle Lifestyle and its trading symbol to IDLE.X. The company expects to trade as an inactive issuer under the policies of the Canadian Stock Exchange.

“The completion of this sale represents the culmination of a tremendous amount of effort from the entire Poda team, and I am extremely proud of what we have accomplished,” said Poda Director, CEO and Chairman Ryan Selby in a statement.

I believe this transaction provides maximum value for the company and its shareholders, and I know our innovative technology is now in good hands with Altria.”