AquaLiv Technologies Signs Non-Binding Letter of Intent to Acquire Verity Farms
AquaLiv Technologies (OTC: AQLV) announced today the signing of a non-binding Letter of Intent ("LOI") to acquire Verity Farms ("Verity"), a company committed to decreasing chemical dependency and genetic modification in food production. AquaLiv Technologies, Inc., through its subsidiary AquaLiv, Inc., provides physics-based solutions to biological challenges, including the AquaLiv Water System that enhances drinking water to improve health; and AgSmart Rice, which increases rice crop yields and provides resistance to pests, disease, and storms. The company's solutions are used for applications in water treatment, environmental science, agriculture, animal husbandry, personal use products, and medical industries.
"This is an exciting time for us at AquaLiv," stated Bill Wright, CEO of AquaLiv Technologies, Inc. "We have been working extremely hard to advance the business in a positive manner when we are blessed with an opportunity to acquire a synergistic company with high moral values, strong revenues and assets, and on the same mission as AquaLiv. We could not be happier with the direction we are taking and look forward to a successful due diligence period and closing."
AquaLiv Technologies and Verity are conducting their respective due diligence and expect to complete the process in the near future.