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Little Green Pharma Ltd (ASX:LGP)

ALERT: Price-sensitive ASX Announcement for LGP
Current share price for LGP : $0.076 -0.023 (-23.23%)+
Announcement
Release
11 May 2026 8:38AM
Price at Release
$0.099
Full Release
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Summary
Little Green Pharma Ltd (LGP) announced an update regarding its proposed acquisition of Cannatrek Ltd by scheme of arrangement. The transaction details ongoing discussions with the Therapeutic Goods Administration (TGA) concerning alleged contraventions by Cannatrek, with an agreement reached on the associated civil penalty. Despite the material nature of the penalty, it remains within the economic parameters of the CV Shares conversion mechanism outlined in the Scheme Booklet. LGP will host a virtual general meeting on 22 May 2026, where shareholders will vote on the issuance of new shares related to the scheme. The company recommends voting in favor of the resolution in the absence of a superior proposal. LGP operates globally in the medicinal cannabis sector, with significant market positions in Australia, Europe, and other export markets.
Key Points
  • LGP's proposed acquisition of Cannatrek Ltd via scheme of arrangement.
  • Cannatrek's ongoing TGA investigation for alleged advertising contraventions.
  • In-principle agreement reached with TGA on civil penalty.
  • Civil penalty within limits of CV Shares conversion mechanism.
  • Virtual General Meeting scheduled for 22 May 2026.
  • Shareholders to vote on issuance of new shares for the scheme.
  • LGP Board recommends voting in favor of the scheme resolution.
  • LGP is a global medicinal cannabis company with operations in Europe and Australia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.