AgriFORCE Growing Systems Ltd. announced that shareholders approved all proposals at the Company’s special meeting of its shareholders on December 15th, 2022. This includes the approval of share issuances in connection with the previously announced purchase of food processing technology from Manna Nutritional Group and the acquisitions of the Stronghold property and Delphy Groep BV. “We are in the final stages of closing the acquisition of Delphy, which we expect to complete and close in early 2023.”
Earlier this year the company announced its intention to acquire Delphy Groep BV, a leading global expert in Food & Flower production. After an initial agreement to acquire the company, both parties updated the deal to lower the price of the acquisition and to mutually extend the closing date. The Amended Agreement reduced the total purchase price from USD$29 million to USD$17.66 million, plus a potential earnout of up to USD$5.99 million over 2 years, based on achieving future performance milestones.
Ingo Mueller, CEO of AgriFORCE, stated, “We are glad to announce the acceptance of all motions at our recent special meeting of shareholders and appreciate the continuous support of our shareholders. Importantly, we are close to concluding the purchase of Delphy, which we anticipate will be finished and closed in the first quarter of 2023.”
Other transactions that have been approved by the shareholders of AgriFORCE include:
- The acquisition of food processing technology from Manna Nutritional Group
- Stronghold property acquisitions
- PIPE Financing