Astron Connect Inc. Reports Agreement to Acquire Bottled Water Trading Company

(TheNewswire)



 

VANCOUVER, BC - TheNewswire – April 6, 2020 – Astron Connect Inc. (“Astron”) (TSXV:AST) today announced that it has entered into an agreement to purchase all of the issued and outstanding shares of Manna Resources Inc., a private company incorporated in BC. Manna Resources Inc. operates a bottled water trading business focused on the China and other Asian markets under the “Manna Water” brand. The purchase price of $100,000 will be comprised of $40,000 cash and $60,000 worth of Astron common shares issued at a deemed price of $0.05 per share (a total of 1,200,000 Astron shares).  The closing of the transaction is subject to certain customary conditions as well TSX Venture Exchange acceptance.

 

Randall Smallbone, Astron CEO, commented “This acquisition is another step forward in our penetration of the bottled water business in China and other Asian markets. The Manna Water brand will be a complementary addition to our current Sachiel Water Brand.”

  

ABOUT ASTRON CONNECT

Astron Connect (TSX-V:AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Sachiel Water (an Astron brand) supplies China and other emerging markets with pure Canadian bottled spring water. For more information, visit www.astronconnect.com.

 

For more information, please contact:

 

S. Randall Smallbone

President and CEO

Astron Connect Inc.

[email protected]

The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the expected consummation of the acquisition of Manna Resources Inc. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the receipt of TSX Venture Exchange approval.

 

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