--- title: "IGC Pharma subsidiary closes Vancouver facility asset sale valued at about" url: "https://aibio.space/news/igc-pharma-subsidiary-closes-vancouver-facility-asset-sale-valued/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-11-14" section: "Mergers" tickers: "AMEX:IGC" source: "https://www.sec.gov/Archives/edgar/data/1326205/000118518525001713/igc8k111425.htm" summary: "Holi Hemp LLC sold equipment, inventory and operating assets for an agreed fair value of about $2.7 million, but the consideration was supply rights and a" --- By the aibio.space news desk. Sources - [IGC Pharma, Inc. Form 8-K filed November 14, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1326205/000118518525001713/igc8k111425.htm) - [IGC Pharma, Inc. exhibit igcex99-1.htm to the November 14, 2025 Form 8-K (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1326205/000118518525001713/igcex99-1.htm) - [IGC Pharma, Inc. Form 10-K filed June 27, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1326205/000118518525000706/igc10k033125.htm) [IGC](https://aibio.space/companies/igc-pharma/) 2025-11-14 # IGC Pharma subsidiary closes Vancouver facility asset sale valued at about $2.7 million Tickers [IGC](https://aibio.space/companies/igc-pharma/) Holi Hemp LLC sold equipment, inventory and operating assets for an agreed fair value of about $2.7 million, but the consideration was supply rights and a contingent payout, with no cash. The pro forma statements show a non-cash gain of $1,051 thousand that narrows a reported quarterly loss to $548 thousand. ## Key facts - **Company**: IGC Pharma, Inc. (AMEX: IGC) - **News type**: Mergers - **Primary source**: [IGC Pharma, Inc. Form 8-K filed November 14, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1326205/000118518525001713/igc8k111425.htm) *Office towers against a dusk sky. CC0, via rawpixel. The picture shows the field, not the companies named.* IGC Pharma, Inc. (NYSE American: [IGC](https://aibio.space/companies/igc-pharma/)) said its subsidiary, Holi Hemp LLC, closed the sale of equipment, inventory and related operating assets at its Vancouver, Washington, facility on November 13, 2025. The buyer is Wellness Essentials Northwest LLC. The company reported the closing in a [Form 8-K](https://www.sec.gov/Archives/edgar/data/1326205/000118518525001713/igc8k111425.htm) filed November 14, 2025. The filing puts the fair value of the transaction at approximately $2.7 million, and the pro forma statements attached to it say the company received no cash. ## What the company received The sale agreement is dated September 29, 2025, and was first disclosed on October 1, 2025. Its value was subject to an auditor's valuation review and closing conditions, which the 8-K says were satisfied on November 13. According to [Exhibit 99.1](https://www.sec.gov/Archives/edgar/data/1326205/000118518525001713/igcex99-1.htm), the consideration has two parts. The first is a right to have the company's products manufactured at preferential pricing through December 31, 2030. The second is a contingent right to receive 10 percent of net proceeds if the buyer sells the business within five years. The exhibit states: "No cash consideration was exchanged." The buyer also assumed certain employees and short-term lease obligations. The filings do not reconcile two dates. The exhibit's transaction note says the disposition was completed on September 29, 2025, while the 8-K dates the closing to November 13. The 8-K's exhibit index also names the buyer as Wellness Essentials Northwest Inc., not LLC. ## What the pro forma statements show The unaudited pro forma figures are as of June 30, 2025. The company removes inventory of approximately $685 thousand and property, plant and equipment of $851 thousand. It records a finite-lived intangible asset of $2.7 million for the supply right, which is amortized from January 1, 2028 at about $900 thousand a year. The exhibit says the supply rights commence in 2028. The statements also record a gain on disposal of $1,051 thousand. That gain is not cash. It drives the change in the quarter: the pro forma net loss for the three months ended June 30, 2025 is $548 thousand, against a reported $1,599 thousand. Cash and cash equivalents fall from $454 thousand to $341 thousand on the pro forma balance sheet. The notes do not explain that $113 thousand cash adjustment. Inventory drops from $1,349 thousand to $664 thousand, and total stockholders' equity rises from $6,078 thousand to $7,129 thousand. ## Cash, debt and the Alzheimer's program The [annual report on Form 10-K](https://www.sec.gov/Archives/edgar/data/1326205/000118518525000706/igc10k033125.htm), filed June 27, 2025 for the year ended March 31, 2025, reports a net loss of $7.1 million, down from $13.0 million a year earlier. Revenue was $1.3 million, research and development expense was $3.7 million, and cash used in operations was $4.8 million. The company says its cash, working capital and investments, together with an available $12 million facility from O-Bank, are sufficient to support operations beyond the twelve months after issuance. O-Bank Co., Ltd. is administrative agent and lender under a loan agreement effective June 24, 2024. It also raised about $4.64 million in fiscal 2025 through private placements and an at-the-market program. The lead candidate, IGC-AD1, is being tested for agitation in Alzheimer's dementia in the CALMA study, a multicenter, randomized, double-blind, placebo-controlled Phase 2 trial that the 10-K says continues to enroll in the United States and Canada. The company says interim data show a statistically significant reduction in agitation compared with placebo within the first 2-6 weeks of treatment. The same filing says those interim results rest on a small number of patients (n=26), and that there is no guarantee they will hold up as enrollment grows. The 10-K calls it a 146-patient trial. The filing gives no date for a Phase 3 trial or a CALMA readout. The sale brings in supply terms and a contingent payout rather than cash. The filings still show a net loss of $7.1 million for the last full year, cash used in operations of $4.8 million, and a lead drug whose best data come from 26 patients. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story IGC IGC Pharma, Inc. AMEX ยท United States Open the starter desk ## More in Mergers Mergers ### [InMed sets November 5 record date for CVRs tied to Mentari merger](https://aibio.space/news/inmed-sets-november-5-record-date-cvrs-tied-mentari-merger/) Oct 27, 2026 Mergers ### [Rallybio declares estimated $82.7 million cash distribution tied to Avenzo merger](https://aibio.space/news/rallybio-declares-estimated-82-7-million-cash-distribution-tied-avenzo/) Oct 26, 2026 Mergers ### [Skye Bioscience files preliminary proxy for its Redx Pharma acquisition](https://aibio.space/news/skye-bioscience-files-preliminary-proxy-redx-pharma-acquisition/) Oct 26, 2026 --- Source page: https://aibio.space/news/igc-pharma-subsidiary-closes-vancouver-facility-asset-sale-valued/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "IGC Pharma subsidiary closes Vancouver facility asset sale valued at about", 2025-11-14, https://aibio.space/news/igc-pharma-subsidiary-closes-vancouver-facility-asset-sale-valued/