6 days ago
Radical terminates asset purchase agreement with AgriForce, files lawsuit
Radical Clean Solutions has formally notified AgriForce Growing Systems (AGRI) of the termination of the previously executed asset purchase agreement dated August 16, termination was based on what Radical alleges to be multiple material breaches of the agreement by AgriForce. These alleged breaches include:Failure to fund Radical's monthly operations budget as contractually required; Failure to use commercially reasonable efforts to advance Radical's business; Failure to support key certification efforts essential to the business. In connection with the termination, Radical and its founder, Roger Slotkin, have filed a lawsuit in the United States District Court for the Southern District of New York against AgriForce Growing Systems Ltd. The suit alleges material breaches of various agreements, and Radical and Mr. Slotkin are seeking damages and other appropriate relief.
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