BRIEF-Labat Africa Announces Relaunch Of New Labat Brand
Sept 5 (Reuters) - Labat Africa Ltd LABJ.J :
* JSE: LAB - DETAIL CAUTION, ESTABLISH LABAT CANNABIS, ACQ OF BUSINESS, NEW & WITHDRAW CAUTIONARIES, RELAUNCH OF NEW LABAT BRAND
* LABAT AFRICA LTD - LABAT HAS ENTERED INTO AGREEMENTS WITH A NUMBER OF PARTIES TO GIVE EFFECT TO ESTABLISHMENT OF A FULLY INTEGRATED CANNABIS BUSINESS
* LABAT AFRICA LTD - A CASH CONSIDERATION OF R4 MILLION FOR MAJORITY STAKE OF KNUCKLE GENETICS BRAND AND INTELLECTUAL PROPERTY IS PAYABLE IN TWO TRANCHES
* LABAT AFRICA LTD - KNUCKLE GENETICS MANAGEMENT TEAM WILL REMAIN IN BUSINESS FOR A MINIMUM OF FIVE YEARS
* LABAT AFRICA LTD - ACQUISITIONS WILL BE FINANCED BY WAY OF A COMBINATION OF ISSUE OF LABAT SHARES AND CASH.
* LABAT AFRICA - CONTINUES IN DISCUSSIONS WITH PARTIES AND AN ANNOUNCEMENT WILL BE MADE IN EVENT THAT NEW AGREEMENTS ARE ENTERED INTO BETWEEN PARTIES
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