Jeffs' Brands (JFBR) said Wednesday that it signed a definitive agreement to sell its Smart Repair Pro unit and its 49.1% stake in SciSparc Nutraceuticals to Plantify Foods.
In exchange, Jeffs' Brands said it expects to receive up to a 90% interest in Plantify Foods, based on a valuation of 17.1 million Canadian dollars ($12.4 million) for Smart Repair Pro and the SciSparc stake and a valuation of CA$4.9 million for Plantify.
The transaction is expected to close by July 31, the company said.
Shares of Jeffs' Brands were up over 65% in recent Wednesday trading.
Price: 1.39, Change: +0.54, Percent Change: +62.94
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