Yuengling's Ice Cream Corporation (OTCPK:YCRM) entered into a revised binding Letter of Intent to acquire Substantially all the assets, and select debt from PickleJar Holdings, Inc. on September 29, 2023. The consideration will consist of, on the closing Date, Buyer shall deliver to Seller shares of the Series A Convertible Preferred Stock of the Company constituting 90.5% of the issued and outstanding Series A Convertible Preferred Stock of the Company. The execution of the Definitive Agreement and the Closing are conditioned upon the final approval of the Transaction and the terms of the Definitive Agreement by the board of directors of each Party, as well as third party and regulatory approvals, if required.

The initial term of the LOI runs through September 30, 2023, allowing for the parties to complete their due diligence requirement, with the intent of entering into a definitive agreement prior to September 30, 2023. The intent of the parties is to enter into a definitive agreement on or before November 15, 2023. The Parties will close the transaction on or before November 15, 2023.

As of September 28, 2023, PickleJar will deposit $150,000 into a trust account in connection with this deal extension. Fruci and Associates acted as Accountant and Michael Best acted as legal advisor to PickleJar.