AgriMarine last week announced it has signed a non-binding term sheet with British Columbia steelhead trout producer West Coast Fishculture (WCFC), in an effort to shift its strategy toward becoming a global salmon and trout producer.
Under the terms of the term sheet, AgriMarine would acquire all of the outstanding shares of WCFC for cash.
The acquisition price has not been disclosed.
According to AgriMarine, the term sheet is subject to the successful execution of a definitive purchase and sale agreement, approvals by the TSX Venture Exchange, and other customary terms and conditions.
AgriMarine also announces that Robert Leckie has replaced Orest Zajcew as chair of the audit committee. Zajcew remains a member of the committee and he retains his position as the company’s interim CFO.
