NatureBank Asset Management Inc. (“NatureBank”) in British Columbia, Canada, announces conditional approval from the TSX Venture Exchange for the completion of the sale of certain its German subsidiary Forest Finest Consulting GMBH (“FFC”) assets.
Under the terms of the proposed transaction, the сompany will sell 82% of the issued and outstanding shares of NatureBank’s wholly owned subsidiary Forest Finest Consulting GMBH to certain purchasers, including Dirk Walterspacher, the Managing Director (Geschäftsführer) of FFC. Under the terms of the transaction, the purchasers will acquire an 82% interest in FFC for a total purchase price of $442,800. In addition, the purchasers will assume indebtedness of FCC to the company in the amount of $250,000. NatureBank will retain an 18% interest in FCC.
The transaction will be proposed to the shareholders of the company for approval at the company’s next annual general meeting of the shareholders. The Board of Directors of the company appointed an independent committee to review, negotiate and provide a recommendation with respect to the proposed transaction, and the recommendation from the committee was to proceed with the transaction as contemplated, and recommends the shareholders of the company vote in favour of the transaction.
Forest Finest Consulting GmbH is a leading consultancy service provider for sustainable land use projects in tropical, subtropical and arid regions.
NatureBank specializes in advisory, technology and project investment services applied to sustainable commodities and ecological assets, with a primary focus on cocoa, timber and carbon.
