News: MRG Murray River Organics Seeks Expressions Of Interest From Parties Interested In...

Dec 22 (Reuters) - Murray River Organics Group Ltd (MRG) :

• SEEKING EXPRESSIONS OF INTEREST FROM PARTIES INTERESTED IN ACQUISITION OF CO
• EXPRESSIONS OF INTEREST FROM BOTH INSTITUTIONAL INVESTORS & PRIVATE EQUITY FUNDS TO TAKE A STRATEGIC STAKE IN CO
• RECEIVED AN INDICATIVE OFFER FROM A THIRD PARTY TO ACQUIRE ENTIRE REMAINING FARM PORTFOLIO
• EXPECT YEAR-ON-YEAR REVENUES TO DECLINE DUE TO OUR EXIT FROM FRESH PRODUCE AND REDUCED EXPOSURE TO PRIVATE LABEL
• ANTICIPATES TO COMPLETE TRANSACTION BY END OF APRIL 2022
• PROCEEDS OF TRANSACTION WILL BE USED TO RETIRE DEBT
• TRANSACTION IS ANTICIPATED TO RESULT IN A MULTI-YEAR OFF-TAKE AGREEMENT FOR DRIED VINE FRUIT SUPPLY TO CO
• EXPECTS ANY FUTURE EQUITY CAPITAL RAISE OR SALE OF CO TO OCCUR IN 3RD QUARTER OF FY22