Code Green Apparel Corp. signed a letter of intent to acquire 10Star Apparel from Chase Daniel and other shareholders for $0.32 million.
Chase Daniel will join the Board of Directors of Code Green. Daniel has agreed to continue his involvement in an advisory capacity. Aaron Luna, current COO of 10Star Apparel, and J.B. Hill, current Director of Sales and Operations, will assume senior strategic roles at Code Green. The transaction is subject to execution of employment agreements in mutually agreeable form between the Code Green and Aaron Luna and J.B. Hill and regulatory approvals. Board of Directors of Code Green Apparel Corp. unanimously approved the transaction. David M. Loev, Esq. or John S. Gillies, Esq. at The Loev Law Firm, PC acted as legal advisor to Code Green Apparel Corp.