Innovative Food Holdings closes sale of igourmet.com for $700K cash plus assumption of $350K gift card liabilities

INNOVATIVE FOOD HOLDINGS INC

Sale closed Aug 30, 2024: $525K cash at closing, $175K due within 30 days.
Buyer iGourmet, LLC assumed approximately $350K of gift card liabilities.
Proceeds will fund new retailer business with automated cheese cutting/wrapping machinery.
Transaction part of IVFH strategic plan to divest non-core assets and focus on foodservice.

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