VANCOUVER, BC — Billy Goat Brands Ltd., an investment issuer that invests in food technology companies, entered a Letter of Intent (LOI) on June 30 to acquire Kojo Pet Performance Inc. According to the LOI, Billy Goat Brands would acquire all securities of Kojo Pet Performance via a share exchange agreement.
Kojo Pet Performance produces pet food using plants and cellular technology. The company’s valuation is expected to be around $500,000 to $1 million, according to the LOI.
Billy Goat Brands and Kojo Pet Performance are currently in the negotiation phase of the acquisition agreement, with an official agreement reached within 60 days of the LOI. The proposed transaction is subject to closing conditions.
In conjunction with the LOI, Billy Goat Brands announced a personnel change to its leadership. Lawrence Hay, former director of Billy Goat Brands, has been promoted to chief executive officer of the company, succeeding former CEO Tony Harris.
“Billy Goat Brands would like to thank Harris for his many contributions to the company and wishes him well with his future endeavors,” said the company in its prepared statement.
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