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BRIEF-Greenspace Brands Buys Galaxy Nutritional Foods
December 20, 2017 / 11:29 PM / a month ago

BRIEF-Greenspace Brands Buys Galaxy Nutritional Foods

Dec 20 (Reuters) - Greenspace Brands Inc:

* GREENSPACE BRANDS ANNOUNCES ACQUISITION OF US BASED GALAXY NUTRITIONAL FOODS, OWNERS OF THE GO VEGGIE BRAND

* GREENSPACE HAS AGREED TO PURCHASE GO VEGGIE FOR A TOTAL CONSIDERATION OF $17.8 MILLION

* DEAL COMPRISED OF $4.5 MILLION IN CASH, $7.62 MILLION IN GREENSPACE SHARES, TWO YEAR VENDOR TAKE BACK LOAN OF $5.72 MILLION

* WILL BE PURCHASING GO VEGGIE FROM MILL ROAD CAPITAL

* MILL ROAD WILL BECOME LARGEST SHAREHOLDER OF GREENSPACE AS A RESULT OF TRANSACTION

* WILL ISSUE 7.16 MILLION COMMON SHARES AT $1.37 PER SHARE AS PART OF TRANSACTION Source text for Eikon: Further company coverage:

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