Above Food Ingredients Inc. announced on February 6, 2025, that it signed a Letter of Intent (LOI) to acquire Palm Global Technologies Ltd. This acquisition is set to position Above Food to expand its reach into transformative sectors, including advanced Agri-Tech, FinTech, and carbon credit securitization.
The LOI outlines a share exchange that values the full ownership of Palm Global at approximately $180 million. Definitive agreements for the transaction are expected to be finalized during February 2025.
Upon the closing of the acquisition, Peter Knez is slated to assume the role of Chairman and CEO of the combined companies. Lionel Kambeitz will continue to provide leadership as an Executive Director, and Jason Zhao will remain in office as CFO.
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