January 9th, 2013
AquaLiv Technologies, Inc. Announces Acquisition of Verity Farms
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SEATTLE, Jan. 9, 2013 /PRNewswire/ -- AquaLiv Technologies, Inc. (OTCQB: AQLV), a life sciences research and development company, announced today the successful acquisition of Verity Farms ("Verity"), a Sioux Falls-based company committed to the sustainability of the "family farm" and a way of life for the American family farmer. Verity Farms, through sustainable "bio-diversity best practices" soil management programs, decrease chemical dependency and reduce the application of genetic engendered products and byproducts in food production. With the acquisition of Verity, AquaLiv is now a vertically integrated premium natural food producer and purveyor utilizing innovative and proven food production methodologies that enhance the overall health benefits in plants, animals and human beings while improving taste and fortifying essential nutrition value.
Under the terms of the Share Exchange Agreement, AquaLiv Technologies, Inc. has acquired 100% of the outstanding shares of Verity Farms, II, Inc. (which is the parent company of Verity Farms, LLC and various business units). The terms of the agreement have been filed in a Form 8-K with the Securities Exchange Commission and available for public review on January 8, 2013.
The Verity business greatly enhances the AquaLiv asset and customer base. The acquisition adds approximately $4,500,000 in total assets to the balance sheet, including inventory and $3,200,000 in real estate holdings consisting of three separate properties. Additionally, the Verity business is both seasoned and diverse with operations currently in seven (7) states with plans to continue an aggressive national expansion. Additional information on the Verity acquisition, its business, and the Company's future plans will be released over the coming weeks.
Following the acquisition, Verity will continue to operate independently as a wholly-owned subsidiary of AquaLiv Technologies, Inc. AquaLiv, Inc. will change its name to Aistiva Corporation and will also continue to operate as a subsidiary. Verity and Aistiva will then integrate their respective technologies and customer channels for increased synergies and effectiveness. Recognizing the presence of Verity in the marketplace, AquaLiv Technologies, Inc. will file to change its name to Verity, Inc. in the coming weeks.
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