VANCOUVER, BC / ACCESSWIRE / May 14, 2019 / 1169029 B.C. Ltd. (the “Company”) is pleased to announce that it has signed a Share Purchase and Sale Agreement (the “SPSA”) to acquire a 100% equity interest in Agri-Tech Farms Limited (“AFL”).
Pursuant to the SPSA, the Company will issue a total of 20,660,000 at a fair value of $1,033,000 or $0.05 per share through a share exchange on a 1:1 basis with AFL shareholders to acquire a 100% equity interest in AFL. As a result, upon closing planned for June 1, 2019 and subject to satisfactory completion of due diligence, AFL will become a wholly-owned subsidiary of the Company.
About Agri-Tech Farms Limited
Agri-Tech Farms Limited, based near Vancouver, B.C., has a core business plan of developing agricultural operations for food production and distribution in the Americas, China and other world markets.
About 1169029 B.C. Ltd.
The Company was originally incorporated as a wholly-owned subsidiary of HemaGenetics Technologies Corp. to conduct a plan of arrangement with AFL.
For further information please contact:
Ron Ozols, V.P. Communications
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE: 1169029 B.C. Ltd.
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