TORONTO, July 20, 2020 (GLOBE NEWSWIRE) — Feronia Inc. (Feronia or the Company) (TSX-V: FRN) today announces that, further to its announcement on May 22, 2020 and the subsequent third party sale process announced on June 2, 2020, it has today entered into a definitive purchase agreement (the Purchase Agreement) with Straight KKM 2 Ltd. (KKM or the Purchaser) that provides for the acquisition by KKM of the Companys direct and indirect equity interests in its operating subsidiary, Plantations et Huileries du Congo (PHC).
As announced on June 2, 2020, the Company appointed Ernst & Young Inc. and Ernst & Young Orenda Corporate Finance Inc. (collectively E&Y) as independent financial advisor…
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