TORONTO, June 23, 2017 (GLOBE NEWSWIRE) — FTI Foodtech International Inc. (TSX Venture:FTI) (“FTI”) announces that it has signed a Memorandum of Understanding (MOU) with iDroid USA Inc. (iDroid) of Philadelphia, PA.
The proposed agreement will have FTI purchase all assets and business activity of iDroid in exchange for common shares of FTI and stock options.
iDroid is a mobile technology company, that designs, develops and distributes versatile and affordable mobile devices and services, including smartphones, tablets, wearables and mobile apps. iDroid currently sells in the USA, Canada, Europe, the Middle East and East Africa.
Further details of the proposed agreement will be released once finalized and executed.
The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
CONTACT: For further information, contact: William Hullah, President, FTI at (416) 444-1058