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Navion Announces Extension of Letter of Intent with Daizee Diapers
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES CAL...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"Navion Announces Extension of Letter of Intent with Daizee DiapersNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESCALGARY, AB / ACCESSWIRE / January 12, 2021 / Further to the press release dated April 23, 2020, Navion Capital Inc. (TSXV:NAVN.P) (the \"Corporation\") is pleased to announce that it has entered into an extension agreement (\"LOI Extension Agreement\") in respect of the previously announced non-binding letter of intent (\"LOI\") with Daizee Diapers Corp. (\"Daizee\") dated January 11, 2021 (the \"Proposed Transacton\"). The LOI Extension Agreement, extends the exclusivity period between the Corporation and Daziee in the LOI to March 31, 2021, or such earlier or later time as the Corporation and Daizee mutually agree, in order to provide more time for the parties to complete due diligence and enter into a definitive agreement.Trading in Navion shares has been halted, and the halt is expected to remain in place until completion of the proposed transaction or further notice is provided.Daizee is currently carrying out a private placement financing of approximately 8,000,000 units (the \"Units\") of Daizee at a price of $0.10 per Unit for proceeds of approximately $800,000, with each Unit consisting of one common share of Daizee and one-half purchase warrant, which each full warrant being exerciseable into a common share at a price of $0.20 for a period of twenty four (24) months from the date of issuance.About Daizee Diapers Corp.Daizee Diapers Corp. is the maker of the patented Hybrid Diaper product line that is produced in Canada with compostable plant-based components that provide an excellent softness and environmental profile that helps reduce garbage levels. Daizee intends to work with a network of retailer partners and their online and instore sales channels to grow unit sales in North America and the UK while helping to reduce carbon emissions. To learn more, please visit www.daizeediapers.ca.For further information, please contactNavion Capital Inc.Livio Susin, President, Chief Executive Officer and DirectorTel: (604) 789-2410Email: [email protected] information contained in this news release with respect to the Corporation and Daizee was supplied by the parties, respectively, for inclusion herein, and each party and its directors and officers have relied on the other...