Tuesday, March 21, 2017 12:52:57 PM
All the technology and IP stays in the Pubco. Instead of the original plan of separating the assets and spinning half the assets out, all assets stay in the pubco now.
The exiting vertical farming people (current IHC management) are simply going to start a new company (The Harvest Group) and the pubco will license the use of the IP to the Harvest Group for produce related projects. The pubco would receive some kind of yet to be determined royalty for the use of the IP.
This deal I believe is actually much better for pubco shareholders than the original one filed because it keeps all the IP/assets in the pubco. Hence the change to the LOI and disclosure.
Any questions, don't hesitate to contact the Company.
Warm Regards,
Chad Sykes
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