BRIEF-Labat Africa Announces The Acquisition Of CannAfrica

  • Reuters
  • Stock Market News
BRIEF-Labat Africa Announces The Acquisition Of CannAfrica
Credit: © Reuters.

Jan 23 (Reuters) - Labat Africa Ltd LABJ.J :

* JSE: LAB - VOLUNTARY ANNOUNCEMENT OF THE ACQUISITION OF CANNAFRICA (PTY) LIMITED

* LABAT AFRICA LTD - WILL ACQUIRE A 70% INTEREST IN A BUSINESS TO BE KNOWN AS CANNAFRICA FOR A CONSIDERATION OF R15 MILLION

* LABAT AFRICA LTD- PARTIES HAVE AGREED TO APPOINT MR HERSCHEL MAASDORP AS CEO OF RETAIL DIVISION OF LABAT HEALTHCARE

* LABAT AFRICA - CONSIDERATION FOR DEAL TO BE SETTLED THROUGH ISSUE OF 15 MILLION LABAT AFRICA SHARES AT AN ISSUE PRICE OF R1.00 PER SHARE

* LABAT AFRICA - REMAINING 30% OF CANNAFRICA WILL BE OWNED BY MAARSDORP

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