Vejii to Acquire Frozenly to Expand Footprint into the UK.

MANews-(C)2009-2022

Canada-based sustainable products marketplace Vejii Holdings Ltd. has signed a non-binding letter of intent to acquire all issued and outstanding shares of UK-based Frozenly Ltd. Inc. to expand distribution footprint into the United Kingdom, the company said.

The anticipated acquisition price is GBP 2m (USD 2.47m).

The closing is subject to negotiating and signing of a definitive agreement in respect of the proposed transaction, completion of due diligence to the satisfaction of Vejii, receipt of all applicable governmental, regulatory and contractual third-party approvals, including approval of the Canadian Securities Exchange, and other conditions precedent.

Frozenly owns and operates MightyPlants.com, an e-commerce platform and marketplace that provides Direct to Consumer logistics and delivery for plant-based foods across the UK.

Frozenly acts as an agent for brands, providing D2C order fulfilment...

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