GREY:FGBDF - Post by User
Post by
colimaon May 28, 2019 11:49pm
105 Views
Post# 29780552
Azira Corporation
Azira CorporationFGD,V also announced the selling of assets. Nanpersaud & Company Ltd was the buyer of "all operations except US and Canada" for which the terms were not disclosed except for the mention of quarterly royalty payments which are not guaranteed. In addition, Azira Corporation was the buyer of "US Licensed Business". This is significant because Azira Corporation is Mr. Itwaru's new venture. The terms of this transaction: include that the aggregate purchase price will be $5.0M USD for 95% interest in FGMI. Also included under the terms: The buyer will assume day-to-day operations and all related costs and responsibilities, with any intercompany loans being forgiven, at the time of closing, which shall occur on or before May 30th, 2019.