Gifa Inc (GIFX)

[Clonefan]

This is the best I can do. He never replied to my email, but clearly addressed this in the PR.



To: Bill Aul - GIFA <[e-mail]>

Subject: Planned Divestiture for GIFX

Date: Jan 28, 2019 1:27 PM



Hello Mr. Aul,

Can you advise or report the status of this for all shareholders to see? Has the existing promissory note been cancelled or when does the company expect this note will be cancelled?

Thank you in advance!

Clone


As part of the resignation of Mr. Ralph M. Amato and Mr. Harshawardhan Shetty and subject to successful completion of negotiations and certain corporate matters, the Company intends to undertake the planned divestiture of the Company's existing subsidiary that is domiciled in India (the "Subsidiary") by way of the sale and transfer of the Subsidiary to Mr. Harshawardhan Shetty in exchange for the cancellation of an existing promissory note issued to Mr. Shetty and the cancellation of all other indebtedness of the Company to Mr. Shetty (the "Divestiture"). In that connection and as currently planned, the Company anticipates that if its negotiations are successful, the Company will acquire a controlling interest in GIFA Holding Limited, a corporation domiciled in the Turkish Republic of Northern Cyprus (the "Acquisition").