Read the press release again.
"Based on the terms of the agreement, Clarinova Limited, as a wholly-owned subsidiary, will act as the finance, treasury, and private equity arm for all of Element Global’s operations and subsidiaries. Mr. Bertil Olsson remains Chairman of the Clarinova Limited subsidiary, and is now a member of the Board of Directors of the parent company, ELGL."
I didn't know the full extent of Clarinova's role in the past, but we do now. Maybe you already knew?
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