TSXV:GRF - Post Discussion
Post by
Betteryear2 on Apr 06, 2022 5:30pm
Acquisition of 16-Acre Greenhouse and Provides Update
Toronto, Ontario--(Newsfile Corp. - April 6, 2022) - Green Rise Foods Inc. (TSXV: GRF) ("Green Rise" or the "Company") is pleased to announce that it has entered into a definitive asset purchase agreement with 2073834 Ontario Limited (the "Vendor"), with effect as of and from April 1, 2022, to acquire a 16-acre greenhouse range ("Green Rise 3" or "GR3") located on a 34-acre farm in Kingsville, Ontario for cash consideration of approximately CDN$15 million (the "GR3 Acquisition"). The Company intends to fund the GR3 Acquisition with conventional mortgage financing and expects the GR3 Acquisition to close in the second half of May 2022, subject to notice to, and the approval by, applicable securities law regulatory authorities including the TSXV and the satisfaction of any requirements of such authorities. The transaction is also conditional upon satisfactory due diligence, formal board approval and other usual conditions. https://www.newsfilecorp.com/release/119577
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