United States

Leading Brands to acquire Liquid Media Group

Monday, 18 Sep 2017 09:17am EDT 

Sept 18 (Reuters) - Leading Brands Inc ::Leading Brands, Inc. (“LBIX”) enters into a definitive arrangement agreement with Liquid Media Group, Inc. (“Liquid”) www.liquidmediagroup.co whereby LBIX will acquire 100% of Liquid.‍Financial terms were not disclosed.​.Existing LBIX shareholders anticipated to hold 22.637% and Liquid shareholders anticipated to hold 77.363% of post-transaction entity.At deal close, existing LBIX board, with exception of Tom Gaglardi, will resign ​.LBIX has concurrently disposed of its Legacy Beverage assets​.For deal purposes, existing LBIX shares were valued at $1.50​.