Long Island Iced Tea Corp. (NasdaqCM:LTEA) reached an agreement to acquire The Wilnah International, LLC from Julio X. Ponce and others for $0.03 million on December 8, 2016. Under the terms of deal, Long Island will issue 5,000 shares to Wilnah as consideration. Long Island Iced has entered into an employment agreement with Julio X. Ponce, majority interest member of Wilnah, to expand the Company’s sales of ALO Juice products within the Southeast U.S. and Latin American regions. The closing of the transaction is subject to customary conditions, and is expected to occur in the first quarter of 2017. Long Island Iced Tea Corp. (NasdaqCM:LTEA) terminated the agreement to acquire The Wilnah International, LLC from Julio X. Ponce and others on September 18, 2017.