Crop Infrastructure Corp (CSE: CROP) and MYM Nutraceuticals (CSE: MYM) have ended their short lived proposed arrangement, with MYM announcing this morning that it has terminated the previously announced non-binding letter of intent. No justification for the cancellation of the proposed arrangement was provided.
The two firms had previously announced on November 7 that MYM had signed a binding letter of intent to acquire all assets of Crop Corp. As per the few details provided, Crop shareholders were to receive one share of MYM for every 10.5 shares held of Crop Corp. The transaction was to mark a renewed business strategy for MYM, who has struggled with acquisitions and execution as of late.
With the proposed merger now called off, MYM has released that it is still in discussions with Crop Infrastructure Corp in relation to acquiring certain strategic assets from the firm. However, it should be noted that Crop doesn’t own a majority stake in any of its assets currently. Crop Corp, for their part, announced that they are in discussions with both MYM and “additional parties” for “alternative transactions focused on specific assets of the Company.”
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MYM Nutraceuticals last traded at $0.17, while Crop Corp last traded at $0.02 on the CSE.
Information for this briefing was found via Sedar, MYM Nutraceuticals and Crop Infrastructure Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
