Plandaí Biotechnology : Plandai Biotechnology, Inc. Announces Termination of Non-Binding Letter of Intent
July 27, 2022 at 12:12 am EDT
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Plandai Biotechnology, Inc. Announces Termination of Non-Binding Letter of IntentPress Release | 07/27/2022
SAN DIEGO, CA / ACCESSWIRE / July 27, 2022 / Plandai Biotechnology, Inc. ("Plandai" or the "Company") announces the termination of its non-binding letter of intent dated May 23, 2022, with Ms. Jessie Chiang, license holder of the worldwide rights, exclusive of Taiwan, of the Puriblood Leukocyte Reduction Blood Filtration System. As previously discussed in the Company's May 23, 2022, press release, the Company and Ms. Chiang intended to complete due diligence to reach a material definitive agreement whereby Ms. Chiang, through entities she controls, would license to the Company the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years. Upon closing of the proposed transaction, Ms. Chiang would have acquired a controlling interest in the Company and would have become the Company's Director, President, and Chief Executive Officer.
Plandai is continuing its evaluation of several potential strategic opportunities to bring value to its shareholders. On June 20, 2022, the Company engaged Hudgens, CPAs to conduct an independent audit of its financial statements for the years ended June 30, 2022 and 2021. The Company intends to file a registration statement upon completion.
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SOURCE: Plandai Biotechnology
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Plandai Biotechnology Inc. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 04:11:05 UTC.
Plandai Biotechnology, Inc. is a biotech company, which is focused on the production of botanical extracts for the nutraceutical and pharmaceutical industries. The Company grows the green tea used in its products on a 3,000-hectare estate in the Mpumalanga region of South Africa. Its marketed product, Phytofare Catechin Complex, is a green-tea-derived extract that has multiple potential wellness applications. It caters to airline flights and operated coffee shops, lounges and gift shops at airports, and other facilities located in Florida, Alabama, and Georgia. Its airline catering services include the preparation of meals in kitchens located at, or adjacent to, airports and the distribution of meals and beverages for service on commercial airline flights. The Company also provides certain ancillary services, including the preparation of beverage service carts, the unloading and cleaning of plates, utensils and other accessories arriving on incoming aircraft, and other.