Bluewater Acquisition entered into a share exchange agreement with VM Agritech Limited to acquire all the issued and outstanding share capital of VMA in a stock swap.
VMA shareholders will be issued 90.16 million Bluewater common shares at $0.25 per consideration share, in exchange for VMA Shares on a 20,000 for 1 basis and, subject to exchange acceptance, the company will issue signing bonuses of 4.4 million shares at $0.25 per common share, pursuant to certain employment arrangements.
As a condition to completing the acquisition, VMA also intends to complete a non-brokered private placement to raise a minimum of $4.5 million up to $6,.5 million.
VM Agritech has developed and patented a solubilised copper zinc ammonium complex that appears to kill pathogenic fungi in plants. Read more.
