The TSX Venture Exchange has accepted for filing documentation with respect to the non-arm's-length disposition of certain assets of Global Food and Ingredients Ltd.'s subsidiary, GFI Brands Inc.

The company will receive the following consideration: (i) the purchaser shall assume the value of certain liabilities associated with the assets being disposed; (ii) the issuance by the purchaser of a note in the principal amount of $2.7-million in favour of the issuer; and (iii) the repurchase for cancellation an aggregate of one million shares in the capital of the company.

For further details, please refer to the company's news release dated May 1, 2023.