09:08 AM EST, 01/03/2025 (MT Newswires) -- Jeffs' Brands ( JFBR ) said Friday it has signed a non-binding letter of intent for the potential merger of Fort Products with Impact Acquisitions.
Under the proposed agreement, Impact Acquisitions will acquire 100% of Fort Products' shares while Jeffs' Brands ( JFBR ) will receive between 75.0% and 83.3% ownership of Impact share capital upon meeting predetermined milestones, Jeffs' Brands ( JFBR ) said.
The proposed acquisition is based on a valuation of Impact of approximately 4.8 million Canadian dollars ($3.4 million) and a valuation of Fort Products of about CA$17.1 million, Jeffs' Brands ( JFBR ) said.
The transaction is subject to due diligence and regulatory approvals, the company said.