General European Strategic Investments Inc. (OTCPK:GESI) agreed a binding commitment to acquire 49% stake in ColdPro LTD. from United General Limited for £19.2 million on March 14, 2022. United General will retain a 51% interest in ColdPro. The consideration will be comprised of a $0.5 million payable in cash with the balance satisfied through the issuance of 7.5 million restricted common shares of GESI or through cash, at GESI's election. The initial cash payment is due within six-months of the signing of this agreement.

General European Strategic Investments Inc. (OTCPK:GESI) completed the acquisition of 49% stake in ColdPro LTD. from United General Limited on July 27, 2022.