Green Rise Foods Inc. entered into a definitive asset purchase agreement to acquire 16-acre Greenhouse Range located on a 34-acre farm in Kingsville, Ontario from 2073834 Ontario Limited for CAD 15 million.

Green Rise Foods Inc. (TSXV:GRF) entered into a definitive asset purchase agreement to acquire 16-acre Greenhouse Range located on a 34-acre farm in Kingsville, Ontario from 2073834 Ontario Limited for CAD 15 million on April 1, 2022. The acquisition will be fully funded through a conventional mortgage with the Royal Bank of Canada. The transaction is subject to notice to, and the approval by, applicable securities law regulatory authorities including the TSXV and the satisfaction of any requirements of such authorities.

The transaction is also conditional upon satisfactory due diligence, formal board approval and other usual conditions. The acquisition is expected close in the second half of May 2022.