LAS VEGAS, Nov. 6, 2019 /PRNewswire/ -- PRESS RELEASE -- GB Sciences, Inc. has announced a delay in the sale of GB Sciences Louisiana LLC.
On Sept. 16, 2019, GB Sciences, Inc. filed a Current Report on Form 8-K disclosing that the company had signed a term sheet with K2 Logic, LLC pursuant to which K2 will pursue the purchase of the company's 50-percent ownership interest in GB Science Louisiana, LLC for $8,000,000 in cash and earn out provisions for up to an additional $8,000,000. The parties were to negotiate and draft a Purchase and Sale Agreement with the intent to close the transaction by Oct. 31, 2019. The parties were not prepared to close on Oct. 31, 2019, and have now extended the closing date to on or before Nov. 30, 2019.
