Delta corp holdings limited, a fast growing asset-light logistics company enters into a definitive merger and share exchange agreement with kaival brands innovations group, inc.

Grant-valkaria, fla., sept. 23, 2024 (globe newswire) -- kaival brands innovations group, inc., (nasdaq: kavl) (“kaival brands”, the “company”), the exclusive u.s. distributor of  the bidi® stick and certain other products manufactured by bidi vapor, llc ("bidi vapor"), and delta corp holdings limited (“delta”), a privately held holding company for global businesses engaged in bulk & energy logistics, fuel supply, commodities, and asset management, announced today that the companies have entered into a definitive merger and share exchange agreement (the “definitive agreement”), whereby kavial brands and delta will each become wholly owned subsidiaries of a specially created holding company incorporated under the laws of the cayman islands, delta corp holdings limited (“pubco”). the closing of the transactions contemplated by the definitive agreement (the “business combination”) is subject to certain conditions, including, without limitation, the approval of the shareholders of kaival brands and the approval of the listing of the shares of pubco on the nasdaq stock market (“nasdaq”). delta shareholders will become the majority shareholders of pubco as further detailed below.
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