Zeo ScientifiX, Inc. (ZEOX): M&A transaction — Organicell sells Basalt, CO laboratory for $1.25M plus lease assumption

Zeo ScientifiX, Inc.

Sold Basalt, Colorado laboratory facility to non-affiliated third party for $1,250,000.
Purchaser assumed all remaining financial and other obligations under leases for premises and equipment.
Entered into non-exclusive distribution and commission agreements with purchaser.
Transaction effective August 7, 2023.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Zeo ScientifiX, Inc. completed a disposition involving a non-affiliated third party purchaser for $1,250,000 plus the assumption by Purchaser of all remaining financial and other obligations under the leases (closed 2023-08-07).

Action: disposition
Counterparty: a non-affiliated third party purchaser
Consideration: $1,250,000 plus the assumption by Purchaser of all remaining financial and other obligations under the leases
Closing: 2023-08-07

Exact text from the filing

the assignment of the leases for the Laboratory premises and certain laboratory equipment and the sale of leasehold improvements and inventory. The purchase price paid was $1,250,000 plus the assumption by Purchaser of all remaining financial and other obligations under the leases for the Laboratory premises and certain laboratory equipment. In addition,

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Zeo ScientifiX, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-005249

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