Jeffs' Brands Signs Letter of Intent to Merge Fort Products With Impact Acquisitions

MT Newswires Live01-03

Jeffs' Brands (JFBR) said Friday it has signed a non-binding letter of intent for the potential merger of Fort Products with Impact Acquisitions.

Under the proposed agreement, Impact Acquisitions will acquire 100% of Fort Products' shares while Jeffs' Brands will receive between 75.0% and 83.3% ownership of Impact share capital upon meeting predetermined milestones, Jeffs' Brands said.

The proposed acquisition is based on a valuation of Impact of approximately 4.8 million Canadian dollars ($3.4 million) and a valuation of Fort Products of about CA$17.1 million, Jeffs' Brands said.

The transaction is subject to due diligence and regulatory approvals, the company said.

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