Corporate turnaround, News, Restructuring & Insolvency

Administrator appointed to Tetramed Ltd and Heliochem Pty Ltd

Administrator appointed to cannabis cultivating business.

On 28 May 2021, Dermott McVeigh was appointed Voluntary Administrator of Tetramed Ltd (Tetramed) and Heliochem Pty Ltd (Heliochem).

Tetramed is the parent company of an international group of companies that have been developing a business cultivating cannabis for use in the manufacture of medicinal products.  The Tatramed group has 2 licenses to cultivate cannabis and operate on a 100 acre leased property in Lesotho.

Over the past 3 years, Tetramed has raised almost $3.7m of debt and equity from over 300 investors.

We have commenced an urgent assessment of the Companies’ financial position and will shortly invite expressions of interest for the restructure or purchase of the Companies’ assets.

For further information, please contact our office at eswitka@aviorconsulting.com.au