Investments & Finance

Canada’s Vejii Signs Letter of Intent to Purchase UK Marketplace Mighty Plants for £2 million

Vejii Holdings Ltd (CSE: VEJI), a North American online marketplace for plant-based and sustainable products, announces it has signed a non-binding Letter of Intent with UK company Frozenly contemplating the acquisition of Frozenly’s issued and outstanding shares. If completed, Vejii states the proposed acquisition will expand its footprint into the UK, marking a major milestone for the company.  According to the terms of acquisition, Vejii will purchase Frozenly’s shares for an anticipated price of £2 million (about $2.4M USD). Upon closing, the UK company will become a wholly-owned subsidiary of Vejii, while founders Rebecca Osborne and Gabriel Osborne will continue to manage Frozenly,  and will also be subject to contractual resale restrictions agreed to by the parties. Frozenly owns and operates MightyPlants.com, an e-commerce platform that …