Following a major new announcement on Thursday, it is quite likely that the Golden Star Enterprises Ltd (OTCMKTS:GSPT) stock is going to come on to the radars of investors today. The company announced yesterday that it had signed a definitive agreement for the acquisition of Super Fresh Foods USA. Super Fresh Foods USA is a food technology company based out of the United States that had been established back in 2022 and is a specialist in meal subscriptions.
Trading Data
On Thursday, GSPT stock lost 2.27% to $0.0108 with 536.15K shares, compared to volume of 64.41K shares. The stock moved within a range of $0.0091 – 0.0170 after opening trade at $0.0140.
Golden Star Enterprises Announces Acquisition of Super Fresh Foods USA
Once the acquisition transaction is completed, Super Fresh Foods would operate as a fully owned subsidiary unit of Golden Star Enterprises. Golden Star Enterprises is going to issue as many as 84,000,000 new shares to Super Fresh Foods shareholders to complete the transaction.
However, that is not all. Two nominees from Super Fresh Foods are also going to be inducted into the Golden Star Enterprises board of directors once the transaction is completed. The Chief Executive Officer of Golden Star Enterprises spoke about the transaction as well.
He noted that the addition of Super Fresh Foods to its portfolio was a welcome addition. He went on to add that given the fact that Super Fresh Foods had proven its business model by providing meals at a fraction of the cost of restaurants, it would be a positive addition.
Key Quote
“Super Fresh Foods is a welcome addition to our Company’s portfolio. With a proven track record in fiscal 2022 providing busy people high quality meals at a fraction of the price of restaurants, management is confident that Super Fresh Foods will bring immediate positive benefits to Golden Star Enterprises,” commented Eliav Kling, CEO of Golden Star Enterprises Ltd.
