Romana Food Brands Corp (RFBC)

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OAKVILLE, ON, Jan. 16, 2018 /PRNewswire/ - Romana Food Brands Corp. (OTC Markets: RFBC) announced today the signing of a binding letter of intent to acquire the northern Italian based specialty artisanal producer Michelis Egidio SNC di Michelis C.M.M. ("Michelis"). Romana will acquire 100% of Michelis, which was founded in 1919 and specializes in the production of fresh, dried and frozen pasta, baked goods and a line of desserts. According to the letter of intent, the company will proceed with a formal due-diligence, and expects to sign a definitive agreement within the next month and close the acquisition on or before April 30, 2018.