Sept 18 (Reuters) - Leading Brands Inc:
* Leading Brands, Inc. (“LBIX”) enters into a definitive arrangement agreement with Liquid Media Group, Inc. (“Liquid”) www.liquidmediagroup.co whereby LBIX will acquire 100% of Liquid
* Financial terms were not disclosed.
* Existing LBIX shareholders anticipated to hold 22.637% and Liquid shareholders anticipated to hold 77.363% of post-transaction entity
* At deal close, existing LBIX board, with exception of Tom Gaglardi, will resign
* LBIX has concurrently disposed of its Legacy Beverage assets
* For deal purposes, existing LBIX shares were valued at $1.50 Source text for Eikon: Further company coverage: