This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Outlook Resources ERTH Solutions investment 2009-07-03 19:34 ET - Acquisition
The TSX Venture Exchange has accepted for filing documentation pertaining to a letter agreement dated July 2, 2009, between Outlook Resources Inc. and ERTH Solutions Inc. (ESI). Pursuant to the agreement, the company has the option to acquire up to a 25-per-cent equity interest in ESI. ESI is a private U.S. corporation owning proprietary, sustainable, organic fertilizer technology in the organic segment of the fertilizer market.
To acquire a 5-per-cent interest, the company must pay ESI $150,000 (U.S.). Subsequently, the company has a further option to acquire a 20-per-cent interest in ESI by making an additional payment of $450,000 (U.S.), which must be exercised by Sept. 30, 2009. If the company fails to exercise the 20-per-cent interest option, ESI shall be entitled to buy back the 5-per-cent interest acquired by the company for $75,000 (U.S.). Under the terms of the agreement and after the company acquires a 25-per-cent interest in ESI, the company will be granted another option to acquire the remaining 75-per-cent interest in ESI through a share exchange. If the 75-per-cent option is exercised, the company will be disclosing further information via a news release at that point in time.
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