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Plandai Biotechnology, Inc. Announces Termination of Non-Binding Letter of Intent

SAN DIEGO, CA / ACCESSWIRE / July 27, 2022 / Plandai Biotechnology, Inc. ("Plandai" or the "Company") announces the termination of its non-binding letter of intent dated May 23, 2022, with Ms. Jessie Chiang, license holder of the worldwide rights, exclusive of Taiwan, of the Puriblood Leukocyte Reduction Blood Filtration System. As previously discussed in the Company's May 23, 2022, press release, the Company and Ms. Chiang intended to complete due diligence to reach a material definitive agreement whereby Ms. Chiang, through entities she controls, would license to the Company the exclusive rights to the Puriblood technology for North, Central, and South America for a period of 30 years. Upon closing of the proposed transaction, Ms. Chiang would have acquired a controlling interest in the Company and would have become the Company's Director, President, and Chief Executive Officer.

Plandai is continuing its evaluation of several potential strategic opportunities to bring value to its shareholders. On June 20, 2022, the Company engaged Hudgens, CPAs to conduct an independent audit of its financial statements for the years ended June 30, 2022 and 2021. The Company intends to file a registration statement upon completion.


SOURCE: Plandai Biotechnology

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