09:17 AM EDT, 07/03/2025 (MT Newswires) -- Eshbal Functional Food (ESBL.V), a developer of gluten-free and health-focused food products, on Thursday advanced its North American growth strategy with a new acquisition and formal investor relations program,

The company said it entered into an LOI to buy 100% of the issued and outstanding equity of Starcall Broadcasting, doing business as Gluten Free Nation, a Texas-based gluten-free baked goods company. The company said the consideration for the deal will consist of payment in cash and shares of the company, payable upon closing of the deal, with additional performance-based consideration tied to future revenue performance. No financial details were given.

Eshbal added the acquisition is intended to expand its product offering in North America and unlock commercial synergies by introducing gluten-free products through GF Nation's existing sales and distribution channels.

Shares of the company closed unchanged at $0.28, at 52-week highs, on Wednesday on the TSX Venture Exchange.