NNRI Executes Acquisition Letter-Of-Intent

eTradeWire News/10724677
RENO, Nev. - eTradeWire -- NNRF Inc. announced that it executed a Letter of Intent to purchase land in Tennessee which includes a 96,640 square foot commercial greenhouse. This transaction helps NNRF continue their goal of growth in the Green Economy. The property and greenhouse will be an operating organic farm utilizing revolutionary growing techniques and processes developed and patented by partners in a to-be-formed Joint Venture for increased agricultural results.

The acquisition of the property and greenhouse will be an organic produce growing facility which will also be utilized for both research and development and a showcase for our Green Agriculture venture utilizing proprietary growing techniques and systems to be licensed and integrated through a joint venture agreement which is in the process of being finalized. The property includes a 17.5-acre tract of land and 21 interconnected greenhouses totaling approximately 96,640 square feet which are all climate-controlled. There is also an existing 17,928 square foot office/warehouse building.

More on eTradeWire News
The Proposed Transaction

Pursuant to theProposedTransaction, the Company will issue $750,000 in common shares (subject to SEC Rule 144 Restrictions), based on the two-week average price of the stock at the time of close of escrow, in addition to $750,000 cash. One stock warrant will be issued for every two shares of stock issued at the close of escrow at a $0.10 per share exercise price.

The transaction is subject to completion of due diligence reasonable or customary in a transaction of a similar nature.

NNRF, Inc. is as an eco-friendly holding company with specific focus on emerging green markets. NNRF looks to build value by targeting companies that are positioned to grow as the world moves to invest and develop green technologies, green energy and healthier living and lifestyles.

Cautionary Note Regarding Forward-Looking Information

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, many of which, are inherently uncertain and outside of the Company's control and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Those assumptions and factors are based on information currently available to the Company.  There is no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not  except as required by applicable securities laws.  All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

More on eTradeWire News
https://www.otcmarkets.com/stock/NNRI/news

Contact
NNRF, Inc./Tomi Holden
tholden@nnrfinc.com


Source: NNRF, Inc

Show All News | Report Violation

0 Comments

Latest on eTradeWire News