Vejii to Acquire Foodservice Distributor VEDGEco USA for USD 6.25m.

MANews-(C)2009-2021

British Columbia-based, plant-based and sustainable products provider Vejii Holdings Ltd. (CSE: VEJI) has entered into a share purchase agreement to acquire Hawaii-based foodservice distributor VEDGEco USA Inc., an online business-to-business wholesale platform for plant-based products for USD 6.25m, the company said.

Pursuant to the terms of the deal, the company will acquire 100% of the issued and outstanding shares of VEDGEco from the shareholders of VEDGEco.

The total purchase price is payable on the date of the closing of the transaction, the company will issue such number of common shares of the company with a deemed value of USD 3.5m and earn-out payments up to a maximum of USD 2.75m, payable in common shares.

The transaction is expected to close on or around December 31, 2021. Closing of the Transaction is subject to customary closing conditions.

The transaction will augment Vejii's offering of plant-based brands, which have, to date, through ShopVejii.com and VeganEssentials.com, leveraged Vejii's platform for...

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