AgriForce terminates Stronghold land purchase and Humboldt-Bliss offtake agreements

AVAX ONE TECHNOLOGY LTD.

Terminated Stronghold PSA for 34-acre Coachella property; purchase price was $4.3M ($1.5M cash + $2.8M stock).
First tranche of 695,866 prefunded warrants void as closing did not occur by March 31, 2023.
Terminated Humboldt-Bliss offtake agreement; company was to build facility and provide SOPs.
Both terminations effective March 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AVAX ONE TECHNOLOGY LTD. terminated Purchase and Sale Agreement with Stronghold Power Systems, Inc. (effective 2023-03-31).

Action: termination
Agreement: asset purchase
Counterparty: Stronghold Power Systems, Inc.
Effective: 2023-03-31

Exact text from the filing

As previously disclosed, on August 30, 2022, the Company entered into a Purchase and Sale Agreement (“PSA”) with Stronghold Power Systems, Inc. (“Stronghold”) to purchase approximately 34 acres of land in Coachella California.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AVAX ONE TECHNOLOGY LTD. terminated Humboldt-Bliss agreement with Humboldt Bliss, Ltd. (effective 2023-03-31).

Action: termination
Agreement: supply
Counterparty: Humboldt Bliss, Ltd.
Effective: 2023-03-31

Exact text from the filing

As further previously disclosed, on November 30, 2021, the Company signed an offtake agreement with Humboldt Bliss, Ltd., a Barbadian limited company (“Humboldt”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

AVAX ONE TECHNOLOGY LTD. filing history →

Source: SEC EDGAR

accession 0001493152-23-011262

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