Pivot Pharmaceuticals (CSE:PVOT; OTCQB:PVOTF) announced it terminated its intentions to acquire Agro-Biotech.
As quoted in the press release:
“Despite our extensive efforts, we have been unable to complete the acquisition of Agro-Biotech in accordance with the terms and conditions initially agreed upon by the parties. While we are extremely disappointed with this outcome, Pivot continues to pursue other value-enhancing opportunities for the Company and its shareholders,” said Patrick Frankham, CEO of Pivot.
Pivot is currently reviewing the legal alternatives available to it to obtain recovery from Agro-Biotech of the amounts expended by it in the pursuit of this transaction, as well as further damages resulting from the non-completion of the transaction.
Click here to read the full press release.
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