LEADING BRANDS, INC.: Announces that it has Entered into a Support Agreement with Majesco Entertainment Company (“Majesco”) To Finance Exploitation of Majesco Gaming Properties in China
LEADING BRANDS (LBIX)
US:NASDAQ Investor Relations:
investors.lb.com
Company Research
Source: GlobeNewswire
VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Leading Brands, Inc. (NASDAQ:LBIX) (the “Company”), announces that it has entered into a Support Agreement with Liquid Media Group, Inc’s (“Liquid”) subsidiary, Majesco Entertainment Company (“Majesco”), whereby the Company will invest in the exploitation of Majesco’s gaming properties in Asia. On September 18, 2017 the Company announced that it had entered into a Definitive Arrangement Agreement (the “DAA”) with Liquid of Vancouver, Canada whereby LBIX would acquire 100% of Liquid pursuant to a plan of arrangement. The DAA was amended on January 15, 2018 and the exchange ratio adjusted so that LBIX shares would be valued at $1.78 US. It is anticipated that existing LBIX shareholders will hold 25.8% and Liquid shareholders are anticipated to hold 74.2% of the post-transaction entity. In order to assist Liquid with the development of its gaming business (in advance of the closing of the Preferred Share financ
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