James Hass, Owen Naccarato and Chief Executive Officer George Lefevre acquired 60.04% stake in Gala Pharmaceutical, Inc. from IDG Ventures for $0.13 million on May 19, 2014. As part of the transaction the buyers bought 3.547 million shares for cash. James Haas acquired 1.7735 million shares representing 30.02%, George Lefevre and Owen Naccarato both acquired 0.88675 million shares each representing 15.01% stake in the company.

James Hass, Owen Naccarato and Chief Executive Officer George Lefevre completed the acquisition of 60.04% stake in Gala Pharmaceutical, Inc. from IDG Ventures on May 19, 2014.