BRIEF-Sumtra Diversified Inc enters into letter of intent with Hygea Holdings Corp relating to reverse takeover transaction

Tue Oct 11, 2016 12:59pm EDT
 
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Oct 11 (Reuters) - Sumtra Diversified Inc

* Sumtra Diversified Inc enters into letter of intent with hygea holdings corp relating to reverse takeover transaction

* Sumtra Diversified entered into non-binding letter of intent to acquire a 100% interest in hygea holdings corp in a reverse takeover transaction

* Sumtra Diversified says as part of deal, Hygea intends to complete corporate reorganization consisting of consolidation of common shares on 4 for 1 basis

* Sumtra Diversified Inc says hygea also intends to complete private placement of subscription receipts of hygea holdco for gross proceeds of up C$130 million Source text for Eikon: Further company coverage: