Brief: Freedom Foods Says FFPL & Blue Diamond Entered Into Binding Heads Of Agreement

Noumi

17/11/2021 04:52

Nov 17 (Reuters) - Freedom Foods Group Ltd  FNP.AX :
    * FREEDOM FOODS GROUP LTD -  FFPL AND BLUE DIAMOND HAVE
TODAY
ENTERED INTO A BINDING HEADS OF AGREEMENT
    * FREEDOM FOODS GROUP LTD - FFPL WILL PAY TO BLUE DIAMOND A
TOTAL
OF US$35 MILLION
    * FREEDOM FOODS - ENTERED HEADS OF AGREEMENT WITH BLUE
DIAMOND TO
MUTUALLY RESOLVE ARBITRATION
    * FREEDOM FOODS GROUP - SETTLEMENT AGREEMENT ALSO
CONTEMPLATES A
WIND-DOWN AND TERMINATION OF LICENCE AGREEMENT BY 30 JUNE 2022
    * FREEDOM FOODS GROUP LTD - RECEIVED APPROVAL FOR ENTRY INTO
SETTLEMENT AGREEMENT FROM ITS SENIOR LENDERS AND CONVERTIBLE
NOTEHOLDERS
    * FREEDOM FOODS - HAS RECEIVED APPROVAL FOR ENTRY INTO
SETTLEMENT
AGREEMENT FROM SENIOR LENDERS AND CONVERTIBLE NOTEHOLDERS
    * FREEDOM FOODS - UPON EXECUTION OF LONG-FORM AGREEMENT, CO
MAY
SELL NUT-BASED BEVERAGES IN AUSTRALIA & ELSEWHERE WITHOUT
RESTRICTION

Source text for Eikon:  ID:nASX48xgXq 
Further company coverage:  FNP.AX 

 (Reuters.briefs@thomsonreuters.com)