Elixinol Global’s plan to sell its Hemp Foods Australia (HFA) arm for $500,000 are in tatters after its Chinese buyer pulled out citing the failure to meet a condition in the Share Purchase Agreement (SPA).
Shanghai Shunho New Materials Technology terminated the deal – with Elixinol telling the ASX COVID-19 was to blame for the SPA breach. It will continue to operate HFA following the collapse of the sale while it considers its next move.
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